Franklin Resources Inc. Purchases 55,939 Shares of Arch Capital Group Ltd. (NASDAQ:ACGL)

Franklin Resources Inc. grew its holdings in shares of Arch Capital Group Ltd. (NASDAQ:ACGL) by 10.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 608,467 shares of the insurance provider’s stock after acquiring an additional 55,939 shares during the period. Franklin Resources Inc. owned 0.16% of Arch Capital Group worth $67,595,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Arch Capital Group by 245.1% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,053,739 shares of the insurance provider’s stock worth $341,652,000 after purchasing an additional 2,168,897 shares during the period. Erste Asset Management GmbH acquired a new stake in shares of Arch Capital Group during the 3rd quarter worth approximately $82,748,000. National Pension Service acquired a new stake in shares of Arch Capital Group during the 3rd quarter worth approximately $64,271,000. International Assets Investment Management LLC increased its stake in shares of Arch Capital Group by 18,634.1% in the 3rd quarter. International Assets Investment Management LLC now owns 551,345 shares of the insurance provider’s stock valued at $616,840,000 after acquiring an additional 548,402 shares in the last quarter. Finally, Brandes Investment Partners LP acquired a new position in shares of Arch Capital Group during the 2nd quarter valued at $48,119,000. 89.07% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have commented on the stock. StockNews.com cut shares of Arch Capital Group from a “buy” rating to a “hold” rating in a report on Thursday, October 24th. Roth Mkm boosted their target price 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. Jefferies Financial Group increased their price target on Arch Capital Group from $114.00 to $134.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Citigroup boosted their price objective on Arch Capital Group from $105.00 to $114.00 and gave the company a “neutral” rating in a report on Tuesday, September 10th. Finally, BMO Capital Markets increased their target price on Arch Capital Group from $98.00 to $104.00 and gave the stock a “market perform” rating in a report on Wednesday, November 6th. Six analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, Arch Capital Group has a consensus rating of “Moderate Buy” and a consensus price target of $118.38.

Arch Capital Group Trading Down 2.2 %

NASDAQ:ACGL opened at $91.34 on Tuesday. Arch Capital Group Ltd. has a 52 week low of $73.04 and a 52 week high of $116.47. The firm has a 50-day moving average price of $101.70 and a two-hundred day moving average price of $103.01. The firm has a market cap of $34.37 billion, a price-to-earnings ratio of 6.13, a price-to-earnings-growth ratio of 1.49 and a beta of 0.62. 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) last issued its quarterly 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. The business 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 last year, the company posted $2.31 earnings per share. On average, equities analysts expect that Arch Capital Group Ltd. will post 8.99 earnings per share for the current fiscal year.

Arch Capital Group Announces Dividend

The business also recently declared a special dividend, which was paid on Wednesday, December 4th. Investors of record on Monday, November 18th were given a dividend of $5.00 per share. The ex-dividend date of this dividend was 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.