BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Sells 9,187 Shares of Arch Capital Group Ltd. (NASDAQ:ACGL)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp reduced its position in Arch Capital Group Ltd. (NASDAQ:ACGL - Free Report) by 12.8% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 62,658 shares of the insurance provider's stock after selling 9,187 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp's holdings in Arch Capital Group were worth $7,010,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of ACGL. Quantbot Technologies LP acquired a new stake in Arch Capital Group during the 3rd quarter worth about $25,000. UMB Bank n.a. acquired a new stake in Arch Capital Group during the second quarter worth approximately $30,000. Baldwin Brothers LLC MA increased its holdings in Arch Capital Group by 50.7% in the second quarter. Baldwin Brothers LLC MA now owns 309 shares of the insurance provider's stock worth $31,000 after purchasing an additional 104 shares in the last quarter. Rothschild Investment LLC acquired a new position in Arch Capital Group in the second quarter valued at approximately $35,000. Finally, Compagnie Lombard Odier SCmA bought a new position in shares of Arch Capital Group during the 3rd quarter worth approximately $46,000. 89.07% of the stock is currently owned by institutional investors and hedge funds.

Arch Capital Group Stock Down 1.4 %

ACGL stock traded down $1.42 during trading on Monday, reaching $99.30. The stock had a trading volume of 1,472,375 shares, compared to its average volume of 1,685,529. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 0.17. The company has a market capitalization of $37.36 billion, a price-to-earnings ratio of 6.66, a P/E/G ratio of 1.60 and a beta of 0.61. Arch Capital Group Ltd. has a one year low of $72.85 and a one year high of $116.47. The company's 50 day moving average is $105.40 and its two-hundred day moving average is $103.45.

Arch Capital Group (NASDAQ:ACGL - Get Free Report) last released its earnings results 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. Arch Capital Group had a return on equity of 18.94% and a net margin of 33.86%. The company had revenue of $4.72 billion during the quarter, compared to analyst estimates of $4.05 billion. During the same period in the prior year, the company posted $2.31 earnings per share. Equities research analysts forecast that Arch Capital Group Ltd. will post 8.99 EPS for the current year.

Arch Capital Group Announces Dividend

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

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Citigroup lifted their price objective on shares of Arch Capital Group from $105.00 to $114.00 and gave the company a "neutral" rating in a research note on Tuesday, September 10th. Wells Fargo & Company decreased 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 note on Tuesday, November 19th. TD Cowen increased their price objective 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. BMO Capital Markets boosted their target price 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. Finally, Barclays assumed coverage on Arch Capital Group in a report on Wednesday, September 4th. They issued an "equal weight" rating and a $120.00 price target on the stock. Six research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, Arch Capital Group currently has a consensus rating of "Moderate Buy" and a consensus target price 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.