JPMorgan Chase & Co. Sells 243,467 Shares of Arch Capital Group Ltd. (NASDAQ:ACGL)

JPMorgan Chase & Co. lessened its holdings in shares of Arch Capital Group Ltd. (NASDAQ:ACGL) by 3.9% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 5,966,782 shares of the insurance provider’s stock after selling 243,467 shares during the quarter. JPMorgan Chase & Co. owned approximately 1.59% of Arch Capital Group worth $667,564,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Quantbot Technologies LP bought a new position in shares of Arch Capital Group during the 3rd quarter valued at $25,000. UMB Bank n.a. bought a new stake in shares of Arch Capital Group during the 2nd quarter worth about $30,000. Rothschild Investment LLC acquired a new position in shares of Arch Capital Group during the 2nd quarter valued at about $35,000. Compagnie Lombard Odier SCmA bought a new position in shares of Arch Capital Group in the 3rd quarter valued at approximately $46,000. Finally, Asset Dedication LLC lifted its holdings in Arch Capital Group by 188.1% in the 3rd quarter. Asset Dedication LLC now owns 435 shares of the insurance provider’s stock worth $49,000 after purchasing an additional 284 shares during the last quarter. 89.07% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have recently commented on ACGL shares. Jefferies Financial Group lifted their price target on shares of Arch Capital Group from $114.00 to $134.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Citigroup boosted their target price on shares of Arch Capital Group from $105.00 to $114.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 10th. JMP Securities raised their price target on Arch Capital Group from $115.00 to $125.00 and gave the company a “market outperform” rating in a research report on Tuesday, October 15th. Evercore ISI increased their target price on Arch Capital Group from $104.00 to $107.00 and gave the company an “in-line” rating in a research note on Wednesday, October 9th. Finally, Bank of America dropped their price target on Arch Capital Group from $143.00 to $136.00 and set a “buy” rating on the stock in a research report on Friday, November 15th. Six equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, Arch Capital Group presently has an average rating of “Moderate Buy” and a consensus target price of $118.38.

Arch Capital Group Stock Down 0.6 %

Shares of ACGL opened at $92.34 on Friday. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 0.17. The company has a 50-day moving average price of $98.25 and a two-hundred day moving average price of $102.38. The stock has a market cap of $34.74 billion, a price-to-earnings ratio of 6.20, a P/E/G ratio of 1.49 and a beta of 0.62. Arch Capital Group Ltd. has a 12 month low of $73.51 and a 12 month high of $116.47.

Arch Capital Group (NASDAQ:ACGL) last posted its earnings results on Wednesday, October 30th. The insurance provider reported $1.99 EPS for the quarter, topping the consensus estimate of $1.94 by $0.05. The business had revenue of $4.72 billion during the quarter, compared to the consensus estimate of $4.05 billion. Arch Capital Group had a return on equity of 18.94% and a net margin of 33.86%. During the same quarter last year, the company earned $2.31 EPS. Equities analysts predict that Arch Capital Group Ltd. will post 8.99 EPS for the current fiscal year.

Arch Capital Group Announces Dividend

The company also recently announced a special dividend, which was paid on Wednesday, December 4th. Stockholders of record on Monday, November 18th were paid a $5.00 dividend. The ex-dividend date of this dividend was Monday, November 18th.

About Arch Capital Group

Arch Capital Group Ltd., together with its subsidiaries, provides insurance, reinsurance, and mortgage insurance products worldwide. The company's Insurance segment offers primary and excess casualty coverages; loss sensitive primary casualty insurance programs; directors' and officers' liability, errors and omissions liability, employment practices and fiduciary liability, crime, professional indemnity, and other financial related coverages; medical professional and general liability insurance coverages; and workers' compensation and umbrella liability, as well as commercial automobile and inland marine products.