Arch Capital Group Ltd. (NASDAQ:ACGL) Stake Raised by CIBC Asset Management Inc

CIBC Asset Management Inc boosted its holdings in Arch Capital Group Ltd. (NASDAQ:ACGL) by 8.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 54,616 shares of the insurance provider’s stock after acquiring an additional 4,245 shares during the quarter. CIBC Asset Management Inc’s holdings in Arch Capital Group were worth $6,110,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Sequoia Financial Advisors LLC raised its position in Arch Capital Group by 2.6% in the second quarter. Sequoia Financial Advisors LLC now owns 20,871 shares of the insurance provider’s stock worth $2,106,000 after acquiring an additional 519 shares in the last quarter. Cetera Advisors LLC grew its stake in Arch Capital Group by 70.9% during the 1st quarter. Cetera Advisors LLC now owns 13,700 shares of the insurance provider’s stock valued at $1,266,000 after acquiring an additional 5,684 shares in the last quarter. Swedbank AB purchased a new position in Arch Capital Group during the 1st quarter valued at about $25,060,000. Price T Rowe Associates Inc. MD grew its stake in Arch Capital Group by 0.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,052,549 shares of the insurance provider’s stock valued at $97,299,000 after acquiring an additional 7,109 shares in the last quarter. Finally, Signaturefd LLC grew its stake in Arch Capital Group by 6.8% during the 3rd quarter. Signaturefd LLC now owns 2,952 shares of the insurance provider’s stock valued at $330,000 after acquiring an additional 187 shares in the last quarter. 89.07% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Wells Fargo & Company lowered their target price on Arch Capital Group from $126.00 to $118.00 and set an “overweight” rating on the stock in a research note on Monday, November 4th. Barclays began coverage on Arch Capital Group in a research note on Wednesday, September 4th. They issued an “equal weight” rating and a $120.00 price target for the company. Bank of America lowered their price target on Arch Capital Group from $143.00 to $136.00 and set a “buy” rating for the company in a research note on Friday. StockNews.com cut Arch Capital Group from a “buy” rating to a “hold” rating in a research note on Thursday, October 24th. Finally, Jefferies Financial Group boosted their target price on Arch Capital Group from $114.00 to $134.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Six research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $118.94.

Arch Capital Group Stock Performance

ACGL opened at $101.83 on Monday. The stock has a market cap of $38.31 billion, a PE ratio of 6.83, a P/E/G ratio of 1.47 and a beta of 0.61. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 0.17. Arch Capital Group Ltd. has a 1 year low of $72.85 and a 1 year high of $116.47. The stock’s 50 day simple moving average is $108.03 and its 200-day simple moving average is $103.36.

Arch Capital Group (NASDAQ:ACGL) last released its quarterly earnings data on Wednesday, October 30th. The insurance provider reported $1.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.94 by $0.05. The business had revenue of $4.72 billion for the quarter, compared to analysts’ expectations 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 in the previous year, the business posted $2.31 earnings per share. Sell-side analysts forecast that Arch Capital Group Ltd. will post 9.01 EPS for the current year.

Arch Capital Group Dividend Announcement

The company 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 is Monday, November 18th.

Arch Capital Group Company 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.