Pitcairn Co. Sells 514 Shares of Arch Capital Group Ltd. (NASDAQ:ACGL)

Pitcairn Co. decreased its position in Arch Capital Group Ltd. (NASDAQ:ACGL) by 13.0% during the third quarter, Holdings Channel.com reports. The fund owned 3,433 shares of the insurance provider’s stock after selling 514 shares during the quarter. Pitcairn Co.’s holdings in Arch Capital Group were worth $384,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of ACGL. National Pension Service bought a new position in Arch Capital Group during the 3rd quarter valued at approximately $64,271,000. International Assets Investment Management LLC grew its stake in Arch Capital Group by 18,634.1% in the third quarter. International Assets Investment Management LLC now owns 551,345 shares of the insurance provider’s stock worth $616,840,000 after purchasing an additional 548,402 shares during the period. Brandes Investment Partners LP bought a new position in Arch Capital Group in the second quarter worth $48,119,000. Natixis Advisors LLC lifted its position in Arch Capital Group by 59.1% during the second quarter. Natixis Advisors LLC now owns 1,139,480 shares of the insurance provider’s stock valued at $114,962,000 after buying an additional 423,406 shares during the period. Finally, Principal Financial Group Inc. boosted its holdings in shares of Arch Capital Group by 4.8% during the 3rd quarter. Principal Financial Group Inc. now owns 7,438,738 shares of the insurance provider’s stock valued at $832,246,000 after buying an additional 337,786 shares in the last quarter. 89.07% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. JPMorgan Chase & Co. increased their price target on shares of Arch Capital Group from $108.00 to $110.00 and gave the stock a “neutral” rating in a research note on Thursday, October 10th. BMO Capital Markets raised their target price on shares of Arch Capital Group from $98.00 to $104.00 and gave the company a “market perform” rating in a research note on Wednesday, November 6th. Barclays assumed coverage on Arch Capital Group in a research report on Wednesday, September 4th. They issued an “equal weight” rating and a $120.00 price target on the stock. Bank of America reduced their price objective on 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. Finally, Royal Bank of Canada lowered their price objective on Arch Capital Group from $128.00 to $125.00 and set an “outperform” rating for the company in a research note on Friday, November 1st. Six investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $118.38.

Arch Capital Group Price Performance

Shares of NASDAQ:ACGL opened at $100.41 on Wednesday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.58 and a current ratio of 0.58. The firm has a market cap of $37.78 billion, a price-to-earnings ratio of 6.74, a price-to-earnings-growth ratio of 1.59 and a beta of 0.61. The business has a 50-day simple moving average of $106.38 and a two-hundred day simple moving average of $103.39. Arch Capital Group Ltd. has a fifty-two week low of $72.85 and a fifty-two week high of $116.47.

Arch Capital Group (NASDAQ:ACGL) last released its quarterly earnings data on Wednesday, October 30th. The insurance provider reported $1.99 earnings per share for the quarter, beating the consensus estimate of $1.94 by $0.05. The firm had revenue of $4.72 billion during the quarter, compared to analysts’ expectations 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 period in the previous year, the company earned $2.31 earnings per share. On average, analysts expect that Arch Capital Group Ltd. will post 8.99 earnings per share for the current year.

Arch Capital Group Dividend Announcement

The company also recently declared a special dividend, which will be paid on Wednesday, December 4th. Stockholders of record on Monday, November 18th will be issued a dividend of $5.00 per share. The ex-dividend date is 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.