Dai ichi Life Insurance Company Ltd Has $8.99 Million Stake in Arch Capital Group Ltd. (NASDAQ:ACGL)

Dai ichi Life Insurance Company Ltd lessened its stake in shares of Arch Capital Group Ltd. (NASDAQ:ACGL - Free Report) by 13.5% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 80,374 shares of the insurance provider's stock after selling 12,594 shares during the quarter. Dai ichi Life Insurance Company Ltd's holdings in Arch Capital Group were worth $8,992,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Sequoia Financial Advisors LLC boosted its holdings in shares of Arch Capital Group by 2.6% during the second quarter. Sequoia Financial Advisors LLC now owns 20,871 shares of the insurance provider's stock worth $2,106,000 after acquiring an additional 519 shares during the period. Cetera Advisors LLC grew its holdings in Arch Capital Group by 70.9% in the 1st quarter. Cetera Advisors LLC now owns 13,700 shares of the insurance provider's stock valued at $1,266,000 after buying an additional 5,684 shares in the last quarter. Swedbank AB bought a new position in Arch Capital Group during the 1st quarter worth $25,060,000. Price T Rowe Associates Inc. MD lifted its holdings in shares of Arch Capital Group by 0.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,052,549 shares of the insurance provider's stock worth $97,299,000 after buying an additional 7,109 shares in the last quarter. Finally, Banque Cantonale Vaudoise boosted its position in shares of Arch Capital Group by 172.2% in the third quarter. Banque Cantonale Vaudoise now owns 55,423 shares of the insurance provider's stock valued at $6,201,000 after acquiring an additional 35,060 shares during the period. Institutional investors own 89.07% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. Wells Fargo & Company lowered their price target on shares of Arch Capital Group from $118.00 to $109.00 and set an "overweight" rating on the stock in a research report on Tuesday, November 19th. Jefferies Financial Group boosted their price target on Arch Capital Group from $114.00 to $134.00 and gave the company a "buy" rating in a research note on Wednesday, October 9th. Keefe, Bruyette & Woods raised their price objective on Arch Capital Group from $120.00 to $121.00 and gave the stock an "outperform" rating in a research note on Wednesday, August 7th. JPMorgan Chase & Co. upped their target price on Arch Capital Group from $108.00 to $110.00 and gave the company a "neutral" rating in a research report on Thursday, October 10th. Finally, TD Cowen raised their price target on Arch Capital Group from $116.00 to $138.00 and gave the stock a "buy" rating in a research report on Friday, September 20th. Six research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $118.38.

Arch Capital Group Price Performance

NASDAQ:ACGL traded up $0.37 on Tuesday, hitting $100.43. The company had a trading volume of 643,620 shares, compared to its average volume of 1,690,556. The firm has a 50 day moving average of $106.38 and a two-hundred day moving average of $103.39. The stock has a market capitalization of $37.79 billion, a price-to-earnings ratio of 6.72, a PEG ratio of 1.59 and a beta of 0.61. Arch Capital Group Ltd. has a 52 week low of $72.85 and a 52 week high of $116.47. 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 (NASDAQ:ACGL - Get Free Report) last announced its quarterly earnings results on Wednesday, October 30th. The insurance provider reported $1.99 EPS for the quarter, beating analysts' consensus estimates of $1.94 by $0.05. The company had revenue of $4.72 billion during the quarter, compared to analysts' expectations 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 period in the prior year, the company earned $2.31 EPS. On average, research analysts anticipate that Arch Capital Group Ltd. will post 8.99 earnings per share for the current year.

Arch Capital Group Announces Dividend

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 Company 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.