Arch Capital Group Ltd. (NASDAQ:ACGL) Shares Acquired by Brown Brothers Harriman & Co.

Brown Brothers Harriman & Co. grew its position in Arch Capital Group Ltd. (NASDAQ:ACGL) by 15.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,403 shares of the insurance provider’s stock after purchasing an additional 450 shares during the quarter. Brown Brothers Harriman & Co.’s holdings in Arch Capital Group were worth $381,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Principal Financial Group Inc. raised its holdings in shares of Arch Capital Group by 4.8% in 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 purchasing an additional 337,786 shares in the last quarter. Allspring Global Investments Holdings LLC raised 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 valued at $573,301,000 after purchasing an additional 49,426 shares in the last quarter. Dimensional Fund Advisors LP raised 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 valued at $396,026,000 after purchasing an additional 244,285 shares in the last quarter. Legal & General Group Plc raised its holdings in shares of Arch Capital Group by 10.1% in 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 in the last quarter. Finally, Thrivent Financial for Lutherans raised its stake in Arch Capital Group by 1.7% during the 2nd quarter. Thrivent Financial for Lutherans now owns 1,882,387 shares of the insurance provider’s stock worth $189,914,000 after acquiring an additional 32,115 shares in the last quarter. 89.07% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently commented on ACGL shares. Jefferies Financial Group lifted their price target 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. JMP Securities lifted their price target on shares of Arch Capital Group from $115.00 to $125.00 and gave the stock a “market outperform” rating in a research note on Tuesday, October 15th. 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 research note on Tuesday, November 19th. Bank of America cut their price target on shares of Arch Capital Group from $143.00 to $136.00 and set a “buy” rating on the stock in a research note on Friday, November 15th. Finally, Keefe, Bruyette & Woods lifted their price target on shares of Arch Capital Group from $120.00 to $121.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 7th. Six equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, Arch Capital Group currently has an average rating of “Moderate Buy” and an average target price of $118.38.

Arch Capital Group Stock Up 0.3 %

Shares of NASDAQ:ACGL opened at $100.74 on Thursday. The company has a market cap of $37.90 billion, a price-to-earnings ratio of 6.76, a PEG ratio of 1.59 and a beta of 0.61. The firm’s 50-day simple moving average is $106.11 and its 200-day simple moving average is $103.39. 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 fifty-two week low of $72.85 and a fifty-two week high of $116.47.

Arch Capital Group (NASDAQ:ACGL) last released its quarterly earnings data on Wednesday, October 30th. The insurance provider reported $1.99 EPS for the quarter, topping analysts’ consensus estimates of $1.94 by $0.05. The firm 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 in the previous year, the firm earned $2.31 earnings per share. As a group, equities research analysts predict that Arch Capital Group Ltd. will post 8.99 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. Investors of record on Monday, November 18th will be issued 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.