Penserra Capital Management LLC Buys 2,281 Shares of Arch Capital Group Ltd. (NASDAQ:ACGL)

Penserra Capital Management LLC grew its stake in shares of Arch Capital Group Ltd. (NASDAQ:ACGL) by 136.5% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,952 shares of the insurance provider’s stock after buying an additional 2,281 shares during the quarter. Penserra Capital Management LLC’s holdings in Arch Capital Group were worth $441,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of ACGL. B. Riley Wealth Advisors Inc. boosted its holdings in shares of Arch Capital Group by 14.8% during the first quarter. B. Riley Wealth Advisors Inc. now owns 8,020 shares of the insurance provider’s stock worth $741,000 after purchasing an additional 1,034 shares during the period. LRI Investments LLC bought a new position in shares of Arch Capital Group during the first quarter valued at approximately $38,000. Swedbank AB bought a new stake in shares of Arch Capital Group during the first quarter valued at approximately $25,060,000. Atria Investments Inc increased its position in shares of Arch Capital Group by 19.7% during the first quarter. Atria Investments Inc now owns 24,463 shares of the insurance provider’s stock valued at $2,261,000 after acquiring an additional 4,018 shares in the last quarter. Finally, Cetera Investment Advisers increased its position in shares of Arch Capital Group by 155.9% during the first quarter. Cetera Investment Advisers now owns 41,541 shares of the insurance provider’s stock valued at $3,840,000 after acquiring an additional 25,306 shares in the last quarter. 89.07% of the stock is currently owned by hedge funds and other institutional investors.

Arch Capital Group Stock Performance

Arch Capital Group stock opened at $100.74 on Friday. The firm has a market capitalization of $37.90 billion, a P/E ratio of 6.76, a price-to-earnings-growth ratio of 1.59 and a beta of 0.61. The company’s 50-day moving average is $105.87 and its 200 day moving average is $103.37. Arch Capital Group Ltd. has a 1-year low of $72.85 and a 1-year high of $116.47. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.58 and a quick ratio of 0.58.

Arch Capital Group (NASDAQ:ACGL) last issued its earnings results on Wednesday, October 30th. The insurance provider reported $1.99 EPS for the quarter, topping 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 period last year, the company posted $2.31 earnings per share. Research analysts forecast that Arch Capital Group Ltd. will post 8.99 EPS for the current year.

Arch Capital Group Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. JPMorgan Chase & Co. boosted their target price on shares of Arch Capital Group from $108.00 to $110.00 and gave the company a “neutral” rating in a research note on Thursday, October 10th. Evercore ISI upped their price objective on Arch Capital Group from $104.00 to $107.00 and gave the stock an “in-line” rating in a research note on Wednesday, October 9th. Bank of America dropped their target price on shares of Arch Capital Group from $143.00 to $136.00 and set a “buy” rating for the company in a report on Friday, November 15th. Barclays started coverage on shares of Arch Capital Group in a report on Wednesday, September 4th. They issued an “equal weight” rating and a $120.00 target price for the company. Finally, Roth Mkm increased their price objective on shares of Arch Capital Group from $110.00 to $125.00 and gave the company a “buy” rating in a report on Friday, August 23rd. Six analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $118.38.

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.