Arch Capital Group Ltd. (NASDAQ:ACGL) Position Reduced by Connable Office Inc.

Connable Office Inc. reduced its position in Arch Capital Group Ltd. (NASDAQ:ACGL) by 0.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 27,284 shares of the insurance provider’s stock after selling 152 shares during the period. Connable Office Inc.’s holdings in Arch Capital Group were worth $3,053,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. Vanguard Group Inc. grew its position in Arch Capital Group by 0.3% during the 1st quarter. Vanguard Group Inc. now owns 40,858,890 shares of the insurance provider’s stock worth $3,776,996,000 after purchasing an additional 104,008 shares in the last quarter. Principal Financial Group Inc. boosted 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 worth $832,246,000 after acquiring an additional 337,786 shares during the period. Allspring Global Investments Holdings LLC grew its stake in Arch Capital Group by 1.0% during 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 acquiring an additional 49,426 shares in the last quarter. Capital International Investors grew its stake in Arch Capital Group by 61.1% during the 1st quarter. Capital International Investors now owns 4,112,577 shares of the insurance provider’s stock valued at $380,167,000 after acquiring an additional 1,560,173 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in shares of Arch Capital Group by 6.6% in the second quarter. Dimensional Fund Advisors LP now owns 3,925,288 shares of the insurance provider’s stock worth $396,026,000 after purchasing an additional 244,285 shares in the last quarter. Institutional investors and hedge funds own 89.07% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on ACGL. BMO Capital Markets upped their price objective on shares of Arch Capital Group from $98.00 to $104.00 and gave the company a “market perform” rating in a research note on Wednesday, November 6th. JPMorgan Chase & Co. upped their price target on shares of Arch Capital Group from $108.00 to $110.00 and gave the stock a “neutral” rating in a research note on Thursday, October 10th. Barclays started 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. JMP Securities upped their target price on Arch Capital Group from $115.00 to $125.00 and gave the stock a “market outperform” rating in a research report on Tuesday, October 15th. Finally, Evercore ISI lifted their price target on Arch Capital Group from $104.00 to $107.00 and gave the company an “in-line” rating in a report on Wednesday, October 9th. 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, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $118.88.

Arch Capital Group Price Performance

Shares of NASDAQ:ACGL opened at $100.05 on Friday. 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 business has a 50 day moving average price of $108.21 and a 200 day moving average price of $103.17. The company has a market cap of $37.64 billion, a price-to-earnings ratio of 6.71, a PEG ratio of 1.46 and a beta of 0.61. Arch Capital Group Ltd. has a twelve month low of $72.85 and a twelve month high of $116.47.

Arch Capital Group (NASDAQ:ACGL) 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. The business had revenue of $4.72 billion for the quarter, compared to the consensus estimate of $4.05 billion. Arch Capital Group had a net margin of 33.86% and a return on equity of 18.94%. During the same quarter last year, the company posted $2.31 earnings per share. Research analysts predict that Arch Capital Group Ltd. will post 9.02 earnings per share for the current year.

Arch Capital Group Announces Dividend

The business also recently disclosed 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 of this dividend is Monday, November 18th.

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.