Archer Investment Corp Acquires Shares of 2,477 Arch Capital Group Ltd. (NASDAQ:ACGL)

Archer Investment Corp bought a new position in shares of Arch Capital Group Ltd. (NASDAQ:ACGL) during the third quarter, according to its most recent filing with the SEC. The fund bought 2,477 shares of the insurance provider’s stock, valued at approximately $277,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. raised its position in shares of Arch Capital Group by 0.3% during the 1st quarter. Vanguard Group Inc. now owns 40,858,890 shares of the insurance provider’s stock valued at $3,776,996,000 after buying an additional 104,008 shares in the last quarter. Principal Financial Group Inc. boosted 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 worth $832,246,000 after purchasing an additional 337,786 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its stake in Arch Capital Group by 1.0% in the third quarter. Allspring Global Investments Holdings LLC now owns 5,124,251 shares of the insurance provider’s stock worth $573,301,000 after buying an additional 49,426 shares in the last quarter. Capital International Investors lifted its holdings in shares of Arch Capital Group by 61.1% in the 1st quarter. Capital International Investors now owns 4,112,577 shares of the insurance provider’s stock worth $380,167,000 after acquiring an additional 1,560,173 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake 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. 89.07% of the stock is owned by hedge funds and other institutional investors.

Arch Capital Group Trading Up 1.8 %

ACGL traded up $1.76 on Friday, hitting $101.81. The company had a trading volume of 351,740 shares, compared to its average volume of 1,665,650. The company has a market cap of $38.31 billion, a PE ratio of 6.71, a PEG ratio of 1.46 and a beta of 0.61. Arch Capital Group Ltd. has a 12-month low of $72.85 and a 12-month high of $116.47. The business’s fifty day simple moving average is $108.21 and its 200 day simple moving average is $103.17. 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 (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 analysts’ consensus estimates of $1.94 by $0.05. Arch Capital Group had a return on equity of 18.94% and a net margin of 33.86%. The firm had revenue of $4.72 billion during the quarter, compared to analyst estimates of $4.05 billion. During the same period last year, the company earned $2.31 EPS. Equities research analysts expect that Arch Capital Group Ltd. will post 9.02 EPS for the current year.

Arch Capital Group Dividend Announcement

The business also recently declared a special dividend, which will be paid on Wednesday, December 4th. Stockholders of record on Monday, November 18th will be given a $5.00 dividend. The ex-dividend date of this dividend is Monday, November 18th.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on ACGL shares. JMP Securities increased their target price on Arch Capital Group from $115.00 to $125.00 and gave the company a “market outperform” rating in a report on Tuesday, October 15th. StockNews.com downgraded Arch Capital Group from a “buy” rating to a “hold” rating in a report on Thursday, October 24th. Jefferies Financial Group increased their price objective on Arch Capital Group from $114.00 to $134.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Keefe, Bruyette & Woods upped their target price on Arch Capital Group from $120.00 to $121.00 and gave the company an “outperform” rating in a report on Wednesday, August 7th. Finally, JPMorgan Chase & Co. upped 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. 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 company presently has a consensus rating of “Moderate Buy” and a consensus price target of $118.94.

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.