Wright Investors Service Inc. Sells 10,585 Shares of Arch Capital Group Ltd. (NASDAQ:ACGL)

Wright Investors Service Inc. reduced its holdings in shares of Arch Capital Group Ltd. (NASDAQ:ACGL) by 51.6% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 9,944 shares of the insurance provider’s stock after selling 10,585 shares during the quarter. Wright Investors Service Inc.’s holdings in Arch Capital Group were worth $918,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the business. State Street Corp raised its stake in Arch Capital Group by 1.1% during the third quarter. State Street Corp now owns 16,587,446 shares of the insurance provider’s stock worth $1,855,803,000 after acquiring an additional 172,628 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Arch Capital Group by 2.4% during the 3rd quarter. Geode Capital Management LLC now owns 10,830,263 shares of the insurance provider’s stock valued at $1,208,307,000 after purchasing an additional 253,648 shares during the last quarter. Principal Financial Group Inc. increased 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 purchasing an additional 337,786 shares in the last quarter. Allspring Global Investments Holdings LLC increased its position 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 worth $573,301,000 after purchasing an additional 49,426 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in 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 during the last quarter. 89.07% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on ACGL. Evercore ISI upped their price target on shares of Arch Capital Group from $104.00 to $107.00 and gave the stock an “in-line” rating in a report on Wednesday, October 9th. JMP Securities boosted their price objective 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. JPMorgan Chase & Co. dropped their target price on Arch Capital Group from $110.00 to $106.00 and set a “neutral” rating for the company in a research report on Friday, January 3rd. Jefferies Financial Group boosted 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. Finally, StockNews.com downgraded Arch Capital Group from a “buy” rating to a “hold” rating in a research note on Thursday, October 24th. Six research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $118.13.

Arch Capital Group Stock Up 0.7 %

Shares of NASDAQ ACGL opened at $90.83 on Tuesday. The company’s 50 day moving average price is $95.60 and its 200-day moving average price is $101.73. 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 Ltd. has a 52-week low of $77.53 and a 52-week high of $116.47. The company has a market capitalization of $34.17 billion, a P/E ratio of 6.10, a price-to-earnings-growth ratio of 1.49 and a beta of 0.64.

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, beating 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 analysts’ expectations of $4.05 billion. During the same quarter in the prior year, the firm posted $2.31 earnings per share. Equities analysts forecast that Arch Capital Group Ltd. will post 8.99 earnings per share for the current year.

Arch Capital Group Announces Dividend

The firm also recently announced a special dividend, which was paid on Wednesday, December 4th. Investors of record on Monday, November 18th were paid 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.