Franklin Resources Inc. lifted its stake in Arch Capital Group Ltd. (NASDAQ:ACGL - Free Report) by 10.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 608,467 shares of the insurance provider's stock after buying an additional 55,939 shares during the period. Franklin Resources Inc. owned about 0.16% of Arch Capital Group worth $67,595,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also modified their holdings of the stock. Quantbot Technologies LP acquired a new position in Arch Capital Group in the third quarter valued at about $25,000. UMB Bank n.a. acquired a new position in shares of Arch Capital Group in the 2nd quarter worth approximately $30,000. Rothschild Investment LLC bought a new stake in Arch Capital Group during the 2nd quarter worth approximately $35,000. Compagnie Lombard Odier SCmA acquired a new stake in Arch Capital Group during the 3rd quarter valued at $46,000. Finally, Asset Dedication LLC boosted its stake in Arch Capital Group by 188.1% in the third quarter. Asset Dedication LLC now owns 435 shares of the insurance provider's stock worth $49,000 after purchasing an additional 284 shares in the last quarter. Institutional investors own 89.07% of the company's stock.
Arch Capital Group Trading Down 0.9 %
NASDAQ ACGL traded down $0.81 during trading on Tuesday, reaching $90.53. 2,437,403 shares of the stock traded hands, compared to its average volume of 1,692,417. The stock's 50-day moving average price is $101.70 and its 200 day moving average price is $103.01. 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 firm has a market cap of $34.06 billion, a price-to-earnings ratio of 6.13, a price-to-earnings-growth ratio of 1.49 and a beta of 0.62. Arch Capital Group Ltd. has a fifty-two week low of $73.04 and a fifty-two week high of $116.47.
Arch Capital Group (NASDAQ:ACGL - Get Free Report) last issued its quarterly earnings data on Wednesday, October 30th. The insurance provider reported $1.99 EPS for the quarter, topping 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 business had revenue of $4.72 billion for the quarter, compared to the consensus estimate of $4.05 billion. During the same quarter last year, the business posted $2.31 EPS. Analysts predict that Arch Capital Group Ltd. will post 8.99 EPS for the current year.
Arch Capital Group Announces Dividend
The firm also recently disclosed a special dividend, which was paid on Wednesday, December 4th. Investors of record on Monday, November 18th were given a $5.00 dividend. The ex-dividend date of this dividend was Monday, November 18th.
Analyst Ratings Changes
A number of research firms recently issued reports on ACGL. BMO Capital Markets lifted their price target on Arch Capital Group from $98.00 to $104.00 and gave the company a "market perform" rating in a report on Wednesday, November 6th. JMP Securities upped their target price on shares of Arch Capital Group from $115.00 to $125.00 and gave the stock a "market outperform" rating in a research report on Tuesday, October 15th. Wells Fargo & Company dropped their price objective on shares of Arch Capital Group from $118.00 to $109.00 and set an "overweight" rating for the company in a research report on Tuesday, November 19th. Citigroup increased their price objective on Arch Capital Group from $105.00 to $114.00 and gave the company a "neutral" rating in a research report on Tuesday, September 10th. Finally, Barclays began coverage on Arch Capital Group in a research report on Wednesday, September 4th. They set an "equal weight" rating and a $120.00 target price for the company. Six equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $118.38.
Get Our Latest Stock Report on Arch Capital Group
About Arch Capital Group
(
Free Report)
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.
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