Meritage Portfolio Management Has $5.88 Million Position in Arch Capital Group Ltd. (NASDAQ:ACGL)

Meritage Portfolio Management trimmed its stake in shares of Arch Capital Group Ltd. (NASDAQ:ACGL - Free Report) by 41.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 52,524 shares of the insurance provider's stock after selling 37,822 shares during the quarter. Meritage Portfolio Management's holdings in Arch Capital Group were worth $5,876,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in ACGL. Capital International Investors increased its holdings in Arch Capital Group by 61.1% in the first quarter. Capital International Investors now owns 4,112,577 shares of the insurance provider's stock valued at $380,167,000 after buying an additional 1,560,173 shares during the last quarter. National Pension Service acquired a new stake in shares of Arch Capital Group during the 3rd quarter valued at approximately $64,271,000. International Assets Investment Management LLC lifted its stake in Arch Capital Group by 18,634.1% during the third quarter. International Assets Investment Management LLC now owns 551,345 shares of the insurance provider's stock worth $616,840,000 after purchasing an additional 548,402 shares during the last quarter. Brandes Investment Partners LP acquired a new position in Arch Capital Group in the second quarter worth $48,119,000. Finally, Natixis Advisors LLC increased its stake in Arch Capital Group by 59.1% during the second quarter. Natixis Advisors LLC now owns 1,139,480 shares of the insurance provider's stock valued at $114,962,000 after purchasing an additional 423,406 shares during the last quarter. 89.07% of the stock is owned by institutional investors and hedge funds.

Arch Capital Group Trading Up 2.1 %

Shares of Arch Capital Group stock traded up $2.05 on Friday, reaching $101.85. 1,887,176 shares of the company were exchanged, compared to its average volume of 2,145,058. The company has a current ratio of 0.58, a quick ratio of 0.60 and a debt-to-equity ratio of 0.17. Arch Capital Group Ltd. has a fifty-two week low of $72.85 and a fifty-two week high of $116.47. The firm has a market capitalization of $38.30 billion, a price-to-earnings ratio of 6.84, a price-to-earnings-growth ratio of 1.47 and a beta of 0.61. The stock has a fifty day moving average price of $109.19 and a 200-day moving average price of $103.08.

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 for the quarter, topping the consensus estimate of $1.94 by $0.05. Arch Capital Group had a net margin of 33.86% and a return on equity of 18.94%. The firm had revenue of $4.72 billion for the quarter, compared to analysts' expectations of $4.05 billion. During the same period in the previous year, the company posted $2.31 EPS. On average, analysts expect that Arch Capital Group Ltd. will post 9 EPS for the current year.

Arch Capital Group Dividend Announcement

The company also recently declared a special dividend, which will be paid on Wednesday, December 4th. Investors of record on Monday, November 18th will be paid a $5.00 dividend.

Analysts Set New Price Targets

Several research analysts have recently commented on ACGL shares. TD Cowen lifted their price target 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. Citigroup raised their price target on Arch Capital Group from $105.00 to $114.00 and gave the stock a "neutral" rating in a report on Tuesday, September 10th. Royal Bank of Canada lowered their price objective on Arch Capital Group from $128.00 to $125.00 and set an "outperform" rating for the company in a research note on Friday, November 1st. Wells Fargo & Company cut their target price on Arch Capital Group from $126.00 to $118.00 and set an "overweight" rating on the stock in a research note on Monday, November 4th. Finally, JMP Securities increased their price objective on shares of Arch Capital Group from $115.00 to $125.00 and gave the stock a "market outperform" rating in a report on Tuesday, October 15th. 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.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $118.88.

Insider Transactions at Arch Capital Group

In other Arch Capital Group news, CFO Francois Morin sold 11,460 shares of the company's stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $102.46, for a total transaction of $1,174,191.60. Following the completion of the sale, the chief financial officer now owns 221,779 shares of the company's stock, valued at $22,723,476.34. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 4.20% of the stock is currently owned by company insiders.

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.