Erste Asset Management GmbH Purchases Shares of 736,030 Arch Capital Group Ltd. (NASDAQ:ACGL)

Erste Asset Management GmbH bought a new position in Arch Capital Group Ltd. (NASDAQ:ACGL - Free Report) in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 736,030 shares of the insurance provider's stock, valued at approximately $82,748,000. Arch Capital Group accounts for about 1.0% of Erste Asset Management GmbH's holdings, making the stock its 19th largest holding. Erste Asset Management GmbH owned about 0.20% of Arch Capital Group as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of ACGL. Principal Financial Group Inc. boosted its position in 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 worth $832,246,000 after acquiring an additional 337,786 shares during the period. Allspring Global Investments Holdings LLC boosted its holdings in shares of Arch Capital Group by 1.0% during the third quarter. Allspring Global Investments Holdings LLC now owns 5,124,251 shares of the insurance provider's stock worth $573,301,000 after purchasing an additional 49,426 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of Arch Capital Group by 6.6% during the second quarter. Dimensional Fund Advisors LP now owns 3,925,288 shares of the insurance provider's stock worth $396,026,000 after purchasing an additional 244,285 shares during the period. Legal & General Group Plc grew its position in Arch Capital Group by 10.1% during the second quarter. Legal & General Group Plc now owns 3,455,949 shares of the insurance provider's stock valued at $348,671,000 after purchasing an additional 316,070 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Arch Capital Group by 245.1% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,053,739 shares of the insurance provider's stock valued at $341,652,000 after buying an additional 2,168,897 shares during the period. Hedge funds and other institutional investors own 89.07% of the company's stock.

Arch Capital Group Stock Performance

Shares of NASDAQ ACGL traded down $0.02 during mid-day trading on Friday, hitting $100.72. The company had a trading volume of 797,236 shares, compared to its average volume of 2,154,699. Arch Capital Group Ltd. has a 12 month low of $72.85 and a 12 month high of $116.47. The firm has a market cap of $37.89 billion, a P/E ratio of 6.76, a PEG ratio of 1.60 and a beta of 0.61. The business's 50-day simple moving average is $105.40 and its 200-day simple moving average is $103.41. 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 - Get Free Report) last announced its quarterly earnings data on Wednesday, October 30th. The insurance provider reported $1.99 EPS for the quarter, topping analysts' consensus estimates 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 the consensus estimate of $4.05 billion. During the same quarter last year, the company earned $2.31 EPS. As a group, analysts predict that Arch Capital Group Ltd. will post 8.99 earnings per share for the current fiscal year.

Arch Capital Group Announces Dividend

The firm also recently announced a special dividend, which will be paid on Wednesday, December 4th. Stockholders 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 Analyst Weigh In

A number of equities analysts have recently weighed in on ACGL shares. BMO Capital Markets upped their price target on shares of Arch Capital Group from $98.00 to $104.00 and gave the stock a "market perform" rating in a research note on Wednesday, November 6th. Keefe, Bruyette & Woods increased 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. JMP Securities lifted their target price on shares of Arch Capital Group from $115.00 to $125.00 and gave the company a "market outperform" rating in a research note on Tuesday, October 15th. Citigroup increased their price target on shares of Arch Capital Group from $105.00 to $114.00 and gave the stock a "neutral" rating in a research note on Tuesday, September 10th. Finally, Jefferies Financial Group lifted their price objective on shares of Arch Capital Group from $114.00 to $134.00 and gave the company a "buy" rating in a research note on Wednesday, October 9th. Six research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $118.38.

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.