Everence Capital Management Inc. Purchases 13,820 Shares of Arch Capital Group Ltd. (NASDAQ:ACGL)

Everence Capital Management Inc. boosted its position in Arch Capital Group Ltd. (NASDAQ:ACGL) by 239.9% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 19,580 shares of the insurance provider’s stock after acquiring an additional 13,820 shares during the period. Everence Capital Management Inc.’s holdings in Arch Capital Group were worth $1,808,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the company. Quantbot Technologies LP purchased a new stake in Arch Capital Group in the 3rd quarter worth approximately $25,000. Rothschild Investment LLC bought a new stake in Arch Capital Group in the second quarter valued at $35,000. Compagnie Lombard Odier SCmA purchased a new position in Arch Capital Group during the 3rd quarter valued at $46,000. UMB Bank n.a. raised its holdings in Arch Capital Group by 41.9% in the 3rd quarter. UMB Bank n.a. now owns 427 shares of the insurance provider’s stock worth $48,000 after purchasing an additional 126 shares in the last quarter. Finally, Asset Dedication LLC lifted its position in shares of 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 period. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Arch Capital Group Stock Performance

Shares of ACGL opened at $91.40 on Friday. Arch Capital Group Ltd. has a 12 month low of $74.85 and a 12 month high of $116.47. The stock has a fifty day moving average price of $96.72 and a 200-day moving average price of $102.14. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 0.17. The firm has a market cap of $34.39 billion, a PE ratio of 6.13, a P/E/G ratio of 1.49 and a beta of 0.62.

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

Arch Capital Group Announces Dividend

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

Analyst Ratings Changes

A number of research firms have weighed in on ACGL. Bank of America reduced their target price on Arch Capital Group from $143.00 to $136.00 and set a “buy” rating on the stock in a report on Friday, November 15th. BMO Capital Markets raised their price objective on Arch Capital Group from $98.00 to $104.00 and gave the company a “market perform” rating in a research report on Wednesday, November 6th. TD Cowen upped their target price on shares of Arch Capital Group from $116.00 to $138.00 and gave the stock a “buy” rating in a research report on Friday, September 20th. Wells Fargo & Company lowered their price target on shares of Arch Capital Group from $118.00 to $109.00 and set an “overweight” rating for the company in a research report on Tuesday, November 19th. Finally, JMP Securities upped their price objective on shares of Arch Capital Group from $115.00 to $125.00 and gave the stock a “market outperform” rating in a report on Tuesday, October 15th. Six equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $118.13.

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.