Arch Capital Group Ltd. (NASDAQ:ACGL) Shares Sold by Retirement Systems of Alabama

Retirement Systems of Alabama cut its holdings in shares of Arch Capital Group Ltd. (NASDAQ:ACGL - Free Report) by 6.9% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 355,321 shares of the insurance provider's stock after selling 26,287 shares during the quarter. Retirement Systems of Alabama owned 0.09% of Arch Capital Group worth $39,753,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. raised its stake in shares of Arch Capital Group by 10.0% in the third quarter. PNC Financial Services Group Inc. now owns 71,721 shares of the insurance provider's stock valued at $8,024,000 after acquiring an additional 6,521 shares in the last quarter. Banque Cantonale Vaudoise increased its holdings in Arch Capital Group by 172.2% during the 3rd quarter. Banque Cantonale Vaudoise now owns 55,423 shares of the insurance provider's stock worth $6,201,000 after purchasing an additional 35,060 shares during the period. Nomura Asset Management Co. Ltd. raised its position in Arch Capital Group by 5.3% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 111,229 shares of the insurance provider's stock valued at $12,444,000 after purchasing an additional 5,614 shares in the last quarter. Metis Global Partners LLC boosted its stake in shares of Arch Capital Group by 26.6% in the 3rd quarter. Metis Global Partners LLC now owns 25,465 shares of the insurance provider's stock valued at $2,849,000 after buying an additional 5,345 shares during the period. Finally, Signaturefd LLC boosted its stake in shares of Arch Capital Group by 6.8% in the 3rd quarter. Signaturefd LLC now owns 2,952 shares of the insurance provider's stock valued at $330,000 after buying an additional 187 shares during the period. Hedge funds and other institutional investors own 89.07% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on ACGL. TD Cowen raised 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. Wells Fargo & Company reduced their price objective on shares of Arch Capital Group from $118.00 to $109.00 and set an "overweight" rating on the stock in a report on Tuesday, November 19th. Jefferies Financial Group boosted their target price on shares of Arch Capital Group from $114.00 to $134.00 and gave the stock a "buy" rating in a research note on Wednesday, October 9th. Royal Bank of Canada cut their price target on Arch Capital Group from $128.00 to $125.00 and set an "outperform" rating on the stock in a research note on Friday, November 1st. 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 price objective for the company. Six equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, Arch Capital Group has a consensus rating of "Moderate Buy" and an average target price of $118.38.

Arch Capital Group Stock Performance

NASDAQ:ACGL traded down $0.50 during trading hours on Friday, reaching $93.42. 2,067,235 shares of the company's stock were exchanged, compared to its average volume of 1,684,846. Arch Capital Group Ltd. has a 1-year low of $72.85 and a 1-year high of $116.47. 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 capitalization of $35.15 billion, a price-to-earnings ratio of 6.27, a P/E/G ratio of 1.50 and a beta of 0.62. The company has a 50-day moving average of $102.03 and a 200 day moving average of $103.06.

Arch Capital Group (NASDAQ:ACGL - Get Free Report) last released its quarterly earnings results 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 during the quarter, compared to analysts' expectations of $4.05 billion. During the same quarter in the prior year, the business earned $2.31 earnings per share. Research analysts anticipate that Arch Capital Group Ltd. will post 8.99 EPS for the current year.

Arch Capital Group Announces Dividend

The company also recently announced 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 was Monday, November 18th.

Arch Capital Group Company 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.