Geode Capital Management LLC Buys 253,648 Shares of Arch Capital Group Ltd. (NASDAQ:ACGL)

Geode Capital Management LLC increased its stake in shares of Arch Capital Group Ltd. (NASDAQ:ACGL - Free Report) by 2.4% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 10,830,263 shares of the insurance provider's stock after buying an additional 253,648 shares during the period. Geode Capital Management LLC owned about 2.88% of Arch Capital Group worth $1,208,307,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. State Street Corp raised its holdings in shares of Arch Capital Group by 1.1% in the 3rd quarter. State Street Corp now owns 16,587,446 shares of the insurance provider's stock worth $1,855,803,000 after purchasing an additional 172,628 shares during the period. Principal Financial Group Inc. increased its position in Arch Capital Group by 4.8% in the third quarter. Principal Financial Group Inc. now owns 7,438,738 shares of the insurance provider's stock worth $832,246,000 after buying an additional 337,786 shares during the last quarter. Allspring Global Investments Holdings LLC raised its stake in shares of Arch Capital Group by 1.0% in the third quarter. Allspring Global Investments Holdings LLC now owns 5,124,251 shares of the insurance provider's stock valued at $573,301,000 after buying an additional 49,426 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of Arch Capital Group by 6.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,925,288 shares of the insurance provider's stock valued at $396,026,000 after buying an additional 244,285 shares during the last quarter. Finally, Legal & General Group Plc grew its stake in shares of Arch Capital Group by 10.1% during the 2nd quarter. Legal & General Group Plc now owns 3,455,949 shares of the insurance provider's stock worth $348,671,000 after acquiring an additional 316,070 shares during the period. Institutional investors own 89.07% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. Roth Mkm boosted their price objective on Arch Capital Group from $110.00 to $125.00 and gave the company a "buy" rating in a research note on Friday, August 23rd. Evercore ISI boosted their price target on shares of Arch Capital Group from $104.00 to $107.00 and gave the company an "in-line" rating in a research report on Wednesday, October 9th. Barclays began coverage on shares of Arch Capital Group in a report on Wednesday, September 4th. They issued an "equal weight" rating and a $120.00 price objective for the company. TD Cowen boosted their target price on shares of Arch Capital Group from $116.00 to $138.00 and gave the company a "buy" rating in a report on Friday, September 20th. Finally, BMO Capital Markets raised their price target on Arch Capital Group from $98.00 to $104.00 and gave the stock a "market perform" rating in a report on Wednesday, November 6th. Six investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $118.38.

Arch Capital Group Price Performance

ACGL stock traded up $0.72 during midday trading on Wednesday, reaching $94.07. The company had a trading volume of 1,516,060 shares, compared to its average volume of 1,684,232. The firm has a 50-day moving average price of $102.84 and a 200-day moving average price of $103.20. The company has a market capitalization of $35.39 billion, a P/E ratio of 6.31, a P/E/G ratio of 1.56 and a beta of 0.62. Arch Capital Group Ltd. has a 1 year low of $72.85 and a 1 year high of $116.47. 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 posted its quarterly earnings data on Wednesday, October 30th. The insurance provider reported $1.99 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.94 by $0.05. The company had revenue of $4.72 billion during the quarter, compared to the consensus estimate of $4.05 billion. Arch Capital Group had a net margin of 33.86% and a return on equity of 18.94%. During the same period in the previous year, the firm posted $2.31 EPS. On average, research analysts anticipate that Arch Capital Group Ltd. will post 8.99 earnings per share for the current fiscal year.

Arch Capital Group Announces Dividend

The company also recently announced a special dividend, which was paid on Wednesday, December 4th. Shareholders of record on Monday, November 18th were paid a $5.00 dividend. The ex-dividend date of this dividend was Monday, November 18th.

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.