Verition Fund Management LLC bought a new position in Arch Capital Group Ltd. (NASDAQ:ACGL - Free Report) in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 81,811 shares of the insurance provider's stock, valued at approximately $9,153,000.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Quantbot Technologies LP purchased a new stake in shares of Arch Capital Group during the third quarter worth about $25,000. UMB Bank n.a. bought a new stake in shares of Arch Capital Group during the second quarter valued at approximately $30,000. Baldwin Brothers LLC MA lifted its holdings in shares of Arch Capital Group by 50.7% in the second quarter. Baldwin Brothers LLC MA now owns 309 shares of the insurance provider's stock worth $31,000 after buying an additional 104 shares in the last quarter. Rothschild Investment LLC bought a new position in shares of Arch Capital Group during the second quarter worth $35,000. Finally, LRI Investments LLC purchased a new position in Arch Capital Group during the first quarter valued at $38,000. Institutional investors own 89.07% of the company's stock.
Arch Capital Group Trading Down 0.0 %
ACGL stock traded down $0.02 during trading on Friday, hitting $100.72. The company had a trading volume of 797,236 shares, compared to its average volume of 2,154,699. Arch Capital Group Ltd. has a 52-week low of $72.85 and a 52-week high of $116.47. The company has a 50 day simple moving average of $105.40 and a 200-day simple moving average of $103.41. The firm has a market capitalization of $37.89 billion, a P/E ratio of 6.76, a PEG ratio of 1.60 and a beta of 0.61. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 0.17.
Arch Capital Group (NASDAQ:ACGL - Get Free Report) last issued its earnings results on Wednesday, October 30th. The insurance provider reported $1.99 EPS for the quarter, topping analysts' consensus estimates 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 business had revenue of $4.72 billion for the quarter, compared to analyst estimates of $4.05 billion. During the same period last year, the company posted $2.31 earnings per share. As a group, research analysts forecast that Arch Capital Group Ltd. will post 8.99 earnings per share for the current fiscal year.
Arch Capital Group Dividend Announcement
The company also recently declared a special dividend, which will be paid on Wednesday, December 4th. Stockholders of record on Monday, November 18th will be given a dividend of $5.00 per share. The ex-dividend date is Monday, November 18th.
Analysts Set New Price Targets
Several analysts have commented on ACGL shares. Citigroup boosted their price target on shares of Arch Capital Group from $105.00 to $114.00 and gave the stock a "neutral" rating in a research note on Tuesday, September 10th. Jefferies Financial Group boosted their target price on Arch Capital Group from $114.00 to $134.00 and gave the stock a "buy" rating in a research report on Wednesday, October 9th. TD Cowen lifted their price objective 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. Bank of America decreased their price objective on Arch Capital Group from $143.00 to $136.00 and set a "buy" rating on the stock in a report on Friday, November 15th. Finally, JPMorgan Chase & Co. raised their target price on shares of Arch Capital Group from $108.00 to $110.00 and gave the company a "neutral" rating in a report on Thursday, October 10th. Six equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, Arch Capital Group has a consensus rating of "Moderate Buy" and a consensus target price of $118.38.
Get Our Latest Stock Report on Arch Capital Group
Arch Capital Group Company Profile
(
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.
See Also
Before you consider Arch Capital Group, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Arch Capital Group wasn't on the list.
While Arch Capital Group currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Thinking about investing in Meta, Roblox, or Unity? Click the link to learn what streetwise investors need to know about the metaverse and public markets before making an investment.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
