JPMorgan Chase & Co. Trims Position in Arch Capital Group Ltd. (NASDAQ:ACGL)

JPMorgan Chase & Co. decreased its stake in shares of Arch Capital Group Ltd. (NASDAQ:ACGL - Free Report) by 3.9% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,966,782 shares of the insurance provider's stock after selling 243,467 shares during the quarter. JPMorgan Chase & Co. owned approximately 1.59% of Arch Capital Group worth $667,564,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the stock. State Street Corp grew its position in shares of Arch Capital Group by 1.1% during the 3rd quarter. State Street Corp now owns 16,587,446 shares of the insurance provider's stock worth $1,855,803,000 after buying an additional 172,628 shares in the last quarter. Geode Capital Management LLC grew its holdings in Arch Capital Group by 2.4% during the 3rd quarter. Geode Capital Management LLC now owns 10,830,263 shares of the insurance provider's stock worth $1,208,307,000 after acquiring an additional 253,648 shares in the last quarter. Principal Financial Group Inc. increased 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 valued at $832,246,000 after purchasing an additional 337,786 shares during the period. Allspring Global Investments Holdings LLC raised its holdings in shares of Arch Capital Group by 1.0% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 5,124,251 shares of the insurance provider's stock valued at $573,301,000 after purchasing an additional 49,426 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Arch Capital Group by 6.6% in 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 purchasing an additional 244,285 shares in the last quarter. 89.07% of the stock is owned by hedge funds and other institutional investors.

Arch Capital Group Stock Performance

Shares of NASDAQ ACGL traded down $0.59 during mid-day trading on Friday, hitting $92.34. The stock had a trading volume of 1,030,510 shares, compared to its average volume of 1,699,688. The firm has a market cap of $34.74 billion, a PE ratio of 6.20, a PEG ratio of 1.49 and a beta of 0.62. 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 has a 50 day moving average of $98.25 and a two-hundred day moving average of $102.40. Arch Capital Group Ltd. has a twelve month low of $73.51 and a twelve month high of $116.47.

Arch Capital Group (NASDAQ:ACGL - Get Free Report) last announced its quarterly earnings data on Wednesday, October 30th. The insurance provider reported $1.99 earnings per share (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 firm had revenue of $4.72 billion during the quarter, compared to analysts' expectations of $4.05 billion. During the same period last year, the business posted $2.31 earnings per share. Research analysts predict that Arch Capital Group Ltd. will post 8.99 EPS for the current fiscal year.

Arch Capital Group Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. 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 report on Wednesday, October 9th. JPMorgan Chase & Co. lifted their price target on Arch Capital Group from $108.00 to $110.00 and gave the company a "neutral" rating in a report on Thursday, October 10th. BMO Capital Markets upped their price objective on 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. Citigroup raised 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, StockNews.com downgraded shares of Arch Capital Group from a "buy" rating to a "hold" rating in a report on Thursday, October 24th. Six analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, Arch Capital Group currently has an average 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.