State Street Corp Acquires 172,628 Shares of Arch Capital Group Ltd. (NASDAQ:ACGL)

State Street Corp raised its holdings in shares of Arch Capital Group Ltd. (NASDAQ:ACGL - Free Report) by 1.1% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,587,446 shares of the insurance provider's stock after purchasing an additional 172,628 shares during the quarter. State Street Corp owned 4.41% of Arch Capital Group worth $1,855,803,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Cetera Investment Advisers lifted its holdings in shares of Arch Capital Group by 155.9% in the first quarter. Cetera Investment Advisers now owns 41,541 shares of the insurance provider's stock valued at $3,840,000 after purchasing an additional 25,306 shares in the last quarter. Cetera Advisors LLC lifted its stake in Arch Capital Group by 70.9% during the 1st quarter. Cetera Advisors LLC now owns 13,700 shares of the insurance provider's stock valued at $1,266,000 after acquiring an additional 5,684 shares in the last quarter. Simplicity Wealth LLC boosted its holdings in Arch Capital Group by 4.0% during the 2nd quarter. Simplicity Wealth LLC now owns 12,079 shares of the insurance provider's stock worth $1,219,000 after acquiring an additional 461 shares during the last quarter. CX Institutional bought a new stake in shares of Arch Capital Group in the 2nd quarter worth $213,000. Finally, QRG Capital Management Inc. raised its holdings in shares of Arch Capital Group by 7.5% in the second quarter. QRG Capital Management Inc. now owns 34,839 shares of the insurance provider's stock valued at $3,515,000 after purchasing an additional 2,425 shares during the last quarter. Institutional investors and hedge funds own 89.07% of the company's stock.

Arch Capital Group Stock Performance

ACGL stock traded down $0.66 during midday trading on Friday, reaching $97.83. 1,398,260 shares of the company's stock traded hands, compared to its average volume of 1,869,686. The firm has a market capitalization of $36.81 billion, a PE ratio of 6.57, a price-to-earnings-growth ratio of 1.57 and a beta of 0.62. The company has a 50-day moving average price of $103.95 and a two-hundred day moving average price of $103.36. Arch Capital Group Ltd. has a 52 week low of $72.85 and a 52 week 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.

Arch Capital Group (NASDAQ:ACGL - Get Free Report) last released its quarterly earnings data on Wednesday, October 30th. The insurance provider reported $1.99 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.94 by $0.05. The company had revenue of $4.72 billion for the quarter, compared to analyst estimates 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 in the previous year, the company posted $2.31 EPS. As a group, equities 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 disclosed a special dividend, which was paid on Wednesday, December 4th. Stockholders of record on Monday, November 18th were given a $5.00 dividend. The ex-dividend date of this dividend was Monday, November 18th.

Analyst Ratings Changes

Several research analysts recently weighed in on ACGL shares. Wells Fargo & Company cut their price target 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. Roth Mkm increased their price target 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. Barclays began coverage on Arch Capital Group in a report on Wednesday, September 4th. They set an "equal weight" rating and a $120.00 price target on the stock. Bank of America reduced their price objective on Arch Capital Group from $143.00 to $136.00 and set a "buy" rating for the company in a research note on Friday, November 15th. Finally, TD Cowen lifted their target price on Arch Capital Group from $116.00 to $138.00 and gave the stock a "buy" rating in a research note on Friday, September 20th. Six equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $118.38.

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.