ING Groep NV lowered its stake in shares of Arch Capital Group Ltd. (NASDAQ:ACGL - Free Report) by 59.2% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 18,877 shares of the insurance provider's stock after selling 27,378 shares during the period. ING Groep NV's holdings in Arch Capital Group were worth $2,112,000 as of its most recent SEC filing.
A number of other institutional investors have also recently bought and sold shares of ACGL. UMB Bank n.a. acquired a new position in Arch Capital Group during the 2nd quarter valued at $30,000. Baldwin Brothers LLC MA raised its stake in shares of Arch Capital Group by 50.7% in the 2nd quarter. Baldwin Brothers LLC MA now owns 309 shares of the insurance provider's stock valued at $31,000 after buying an additional 104 shares in the last quarter. Rothschild Investment LLC bought a new position in Arch Capital Group during the second quarter worth about $35,000. LRI Investments LLC acquired a new stake in Arch Capital Group in the 1st quarter valued at $38,000. Finally, Versant Capital Management Inc grew its holdings in shares of Arch Capital Group by 40.3% in the 2nd quarter. Versant Capital Management Inc now owns 456 shares of the insurance provider's stock worth $46,000 after purchasing an additional 131 shares during the last quarter. Institutional investors and hedge funds own 89.07% of the company's stock.
Arch Capital Group Stock Up 1.8 %
ACGL traded up $1.78 during midday trading on Friday, reaching $101.83. 2,727,138 shares of the company were exchanged, compared to its average volume of 2,144,112. Arch Capital Group Ltd. has a one year low of $72.85 and a one year high of $116.47. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.58 and a current ratio of 0.58. The company's fifty day moving average price is $108.03 and its 200 day moving average price is $103.36. The company has a market cap of $38.31 billion, a price-to-earnings ratio of 6.83, a price-to-earnings-growth ratio of 1.47 and a beta of 0.61.
Arch Capital Group (NASDAQ:ACGL - Get Free Report) last issued its quarterly earnings data on Wednesday, October 30th. The insurance provider reported $1.99 earnings per share for the quarter, beating the consensus estimate of $1.94 by $0.05. The business had revenue of $4.72 billion for 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 last year, the business earned $2.31 EPS. As a group, analysts expect that Arch Capital Group Ltd. will post 9.01 EPS for the current year.
Arch Capital Group Dividend Announcement
The firm also recently declared a special dividend, which will be paid on Wednesday, December 4th. Shareholders of record on Monday, November 18th will be issued a $5.00 dividend. The ex-dividend date of this dividend is Monday, November 18th.
Wall Street Analysts Forecast Growth
ACGL has been the topic of a number of recent research reports. Roth Mkm increased their price objective on Arch Capital Group from $110.00 to $125.00 and gave the company a "buy" rating in a research report on Friday, August 23rd. Royal Bank of Canada reduced their target price on shares of Arch Capital Group from $128.00 to $125.00 and set an "outperform" rating for the company in a report on Friday, November 1st. Barclays began coverage on Arch Capital Group in a report on Wednesday, September 4th. They set an "equal weight" rating and a $120.00 target price on the stock. TD Cowen upped their price target on shares of Arch Capital Group from $116.00 to $138.00 and gave the stock a "buy" rating in a report on Friday, September 20th. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of Arch Capital Group from $120.00 to $121.00 and gave the stock an "outperform" rating in a research note on Wednesday, August 7th. Six equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $118.94.
Read Our Latest Research 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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