Assetmark Inc. Raises Holdings in Arch Capital Group Ltd. (NASDAQ:ACGL)

Assetmark Inc. lifted its holdings in Arch Capital Group Ltd. (NASDAQ:ACGL - Free Report) by 0.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 961,422 shares of the insurance provider's stock after purchasing an additional 5,120 shares during the quarter. Assetmark Inc. owned 0.26% of Arch Capital Group worth $107,564,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of ACGL. UMB Bank n.a. purchased a new stake in Arch Capital Group during the second quarter valued at $30,000. Baldwin Brothers LLC MA increased its position in Arch Capital Group by 50.7% during the second quarter. Baldwin Brothers LLC MA now owns 309 shares of the insurance provider's stock valued at $31,000 after acquiring an additional 104 shares during the last quarter. Rothschild Investment LLC purchased a new stake in Arch Capital Group during the second quarter valued at $35,000. LRI Investments LLC purchased a new stake in Arch Capital Group during the first quarter valued at $38,000. Finally, Versant Capital Management Inc increased its position in Arch Capital Group by 40.3% during the second quarter. Versant Capital Management Inc now owns 456 shares of the insurance provider's stock valued at $46,000 after acquiring an additional 131 shares during the last quarter. Hedge funds and other institutional investors own 89.07% of the company's stock.

Insider Buying and Selling at Arch Capital Group

In other Arch Capital Group news, CFO Francois Morin sold 11,460 shares of the company's stock in a transaction on Friday, August 16th. The stock was sold at an average price of $102.46, for a total value of $1,174,191.60. Following the transaction, the chief financial officer now owns 221,779 shares of the company's stock, valued at $22,723,476.34. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 4.20% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research firms have issued reports on ACGL. Royal Bank of Canada cut their price target on Arch Capital Group from $128.00 to $125.00 and set an "outperform" rating for the company in a report on Friday, November 1st. Citigroup upped their price objective on Arch Capital Group from $105.00 to $114.00 and gave the stock a "neutral" rating in a report on Tuesday, September 10th. Wells Fargo & Company decreased their price objective on Arch Capital Group from $126.00 to $118.00 and set an "overweight" rating on the stock in a report on Monday, November 4th. Keefe, Bruyette & Woods upped their price objective on Arch Capital Group from $120.00 to $121.00 and gave the stock an "outperform" rating in a report on Wednesday, August 7th. Finally, Barclays started coverage on Arch Capital Group in a report on Wednesday, September 4th. They set an "equal weight" rating and a $120.00 price objective on the stock. Six research 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 presently has an average rating of "Moderate Buy" and an average target price of $118.88.

Arch Capital Group Trading Up 2.1 %

Shares of NASDAQ ACGL traded up $2.05 during trading hours on Friday, hitting $101.85. 1,887,176 shares of the company traded hands, compared to its average volume of 1,664,083. The company's 50 day moving average price is $109.19 and its 200 day moving average price is $102.95. The stock has a market capitalization of $38.30 billion, a price-to-earnings ratio of 6.84, a price-to-earnings-growth ratio of 1.47 and a beta of 0.61. The company has a current ratio of 0.58, a quick ratio of 0.60 and a debt-to-equity ratio of 0.17. Arch Capital Group Ltd. has a 12 month low of $72.85 and a 12 month high of $116.47.

Arch Capital Group (NASDAQ:ACGL - Get Free Report) last announced its quarterly earnings data on Wednesday, October 30th. The insurance provider reported $1.99 EPS for the quarter, beating the consensus estimate of $1.94 by $0.05. The company had revenue of $4.72 billion for 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 in the prior year, the company posted $2.31 EPS. On average, equities research analysts anticipate that Arch Capital Group Ltd. will post 9 earnings per share for the current fiscal year.

Arch Capital Group Announces Dividend

The firm also recently disclosed a special dividend, which will be paid on Wednesday, December 4th. Shareholders of record on Monday, November 18th will be given a $5.00 dividend.

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.