Janney Montgomery Scott LLC lowered its position in Arch Capital Group Ltd. (NASDAQ:ACGL – Free Report) by 6.8% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 128,060 shares of the insurance provider’s stock after selling 9,367 shares during the period. Janney Montgomery Scott LLC’s holdings in Arch Capital Group were worth $11,826,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also modified their holdings of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Arch Capital Group by 245.1% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,053,739 shares of the insurance provider’s stock valued at $341,652,000 after purchasing an additional 2,168,897 shares during the last quarter. Erste Asset Management GmbH purchased a new stake in shares of Arch Capital Group in the third quarter valued at about $82,748,000. National Pension Service acquired a new stake in shares of Arch Capital Group during the third quarter worth about $64,271,000. International Assets Investment Management LLC grew its holdings in shares of Arch Capital Group by 18,634.1% during the third quarter. International Assets Investment Management LLC now owns 551,345 shares of the insurance provider’s stock worth $616,840,000 after buying an additional 548,402 shares during the last quarter. Finally, Brandes Investment Partners LP acquired a new position in Arch Capital Group in the 2nd quarter valued at about $48,119,000. 89.07% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
ACGL has been the subject of a number of recent research reports. Jefferies Financial Group increased their price objective on Arch Capital Group from $114.00 to $134.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Wells Fargo & Company lowered their price objective on shares of Arch Capital Group from $109.00 to $107.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 14th. Bank of America cut their price objective on shares of Arch Capital Group from $143.00 to $136.00 and set a “buy” rating for the company in a research report on Friday, November 15th. Barclays lowered their target price on shares of Arch Capital Group from $120.00 to $100.00 and set an “equal weight” rating on the stock in a report on Monday, January 6th. Finally, BMO Capital Markets increased their price target on shares of Arch Capital Group from $98.00 to $104.00 and gave the stock a “market perform” rating in a report on Wednesday, November 6th. Six research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, Arch Capital Group currently has an average rating of “Moderate Buy” and an average target price of $118.00.
Arch Capital Group Stock Down 0.3 %
Shares of NASDAQ:ACGL opened at $92.76 on Monday. The firm has a market cap of $34.90 billion, a PE ratio of 6.23, a price-to-earnings-growth ratio of 1.52 and a beta of 0.64. The company has a fifty day simple moving average of $94.44 and a 200 day simple moving average of $101.44. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 0.17. Arch Capital Group Ltd. has a 12-month low of $78.67 and a 12-month high of $116.47.
Arch Capital Group (NASDAQ:ACGL – Get Free Report) last issued its earnings results on Wednesday, October 30th. The insurance provider reported $1.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.94 by $0.05. The business had revenue of $4.72 billion for the quarter, compared to analyst estimates 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 business posted $2.31 EPS. On average, equities research analysts anticipate that Arch Capital Group Ltd. will post 8.86 EPS 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. Investors of record on Monday, November 18th were given a dividend of $5.00 per share. The ex-dividend date was Monday, November 18th.
Arch Capital Group Profile
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.
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