Harvest Fund Management Co. Ltd Sells 5,247 Shares of Arch Capital Group Ltd. (NASDAQ:ACGL)

Harvest Fund Management Co. Ltd lowered its position in shares of Arch Capital Group Ltd. (NASDAQ:ACGL) by 61.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,254 shares of the insurance provider’s stock after selling 5,247 shares during the period. Harvest Fund Management Co. Ltd’s holdings in Arch Capital Group were worth $364,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Principal Financial Group Inc. raised its holdings in shares of 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 valued at $832,246,000 after buying an additional 337,786 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in shares of Arch Capital Group by 1.0% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 5,124,251 shares of the insurance provider’s stock worth $573,301,000 after acquiring an additional 49,426 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Arch Capital Group by 6.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,925,288 shares of the insurance provider’s stock worth $396,026,000 after acquiring an additional 244,285 shares during the last quarter. Legal & General Group Plc grew its holdings in shares of Arch Capital Group by 10.1% during the 2nd quarter. Legal & General Group Plc now owns 3,455,949 shares of the insurance provider’s stock valued at $348,671,000 after purchasing an additional 316,070 shares during the last quarter. Finally, Thrivent Financial for Lutherans raised its position in Arch Capital Group by 1.7% in the 2nd quarter. Thrivent Financial for Lutherans now owns 1,882,387 shares of the insurance provider’s stock worth $189,914,000 after purchasing an additional 32,115 shares during the period. 89.07% of the stock is currently owned by hedge funds and other institutional investors.

Arch Capital Group Trading Up 0.3 %

ACGL opened at $100.41 on Wednesday. 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 Ltd. has a 52 week low of $72.85 and a 52 week high of $116.47. The stock has a market cap of $37.78 billion, a PE ratio of 6.74, a PEG ratio of 1.59 and a beta of 0.61. The business has a 50 day moving average of $106.38 and a 200-day moving average of $103.39.

Arch Capital Group (NASDAQ:ACGL) last issued its quarterly earnings results 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. Arch Capital Group had a net margin of 33.86% and a return on equity of 18.94%. The company had revenue of $4.72 billion during the quarter, compared to analyst estimates of $4.05 billion. During the same period last year, the business earned $2.31 EPS. Equities research analysts predict that Arch Capital Group Ltd. will post 8.99 earnings per share for the current fiscal year.

Arch Capital Group Announces Dividend

The firm also recently announced a special dividend, which will be paid on Wednesday, December 4th. Stockholders of record on Monday, November 18th will be issued a dividend of $5.00 per share. The ex-dividend date is Monday, November 18th.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Keefe, Bruyette & Woods lifted their price objective on Arch Capital Group from $120.00 to $121.00 and gave the stock an “outperform” rating in a report on Wednesday, August 7th. JPMorgan Chase & Co. lifted their price target on Arch Capital Group from $108.00 to $110.00 and gave the stock a “neutral” rating in a research note on Thursday, October 10th. Royal Bank of Canada dropped 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. Evercore ISI lifted their target price on shares of Arch Capital Group from $104.00 to $107.00 and gave the stock an “in-line” rating in a research note on Wednesday, October 9th. Finally, Bank of America lowered their price target on shares of Arch Capital Group from $143.00 to $136.00 and set a “buy” rating for the company in a report on Friday, November 15th. Six investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, Arch Capital Group presently has a consensus rating of “Moderate Buy” and a consensus target price of $118.38.

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.