AdvisorNet Financial Inc Decreases Stock Position in Arch Capital Group Ltd. (NASDAQ:ACGL)

AdvisorNet Financial Inc lessened its position in shares of Arch Capital Group Ltd. (NASDAQ:ACGL) by 12.8% during the fourth quarter, Holdings Channel reports. The institutional investor owned 10,415 shares of the insurance provider’s stock after selling 1,526 shares during the quarter. AdvisorNet Financial Inc’s holdings in Arch Capital Group were worth $962,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in ACGL. LPL Financial LLC grew its stake in Arch Capital Group by 7.9% in the 2nd quarter. LPL Financial LLC now owns 307,334 shares of the insurance provider’s stock valued at $31,007,000 after buying an additional 22,574 shares in the last quarter. American Century Companies Inc. grew its position in shares of Arch Capital Group by 6.0% in the second quarter. American Century Companies Inc. now owns 344,852 shares of the insurance provider’s stock valued at $34,792,000 after purchasing an additional 19,411 shares in the last quarter. BOKF NA raised its stake in shares of Arch Capital Group by 487.4% during the 2nd quarter. BOKF NA now owns 3,260 shares of the insurance provider’s stock valued at $329,000 after purchasing an additional 2,705 shares during the period. Oppenheimer & Co. Inc. lifted its holdings in Arch Capital Group by 19.3% during the 2nd quarter. Oppenheimer & Co. Inc. now owns 18,414 shares of the insurance provider’s stock worth $1,858,000 after purchasing an additional 2,980 shares in the last quarter. Finally, Meeder Advisory Services Inc. bought a new position in Arch Capital Group in the 2nd quarter worth about $227,000. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Arch Capital Group Trading Up 1.3 %

Shares of ACGL stock opened at $91.99 on Wednesday. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 0.17. The firm has a market cap of $34.61 billion, a P/E ratio of 6.17, a price-to-earnings-growth ratio of 1.49 and a beta of 0.64. The business has a 50-day moving average price of $95.60 and a two-hundred day moving average price of $101.73. Arch Capital Group Ltd. has a 12-month low of $77.53 and a 12-month high of $116.47.

Arch Capital Group (NASDAQ:ACGL) last issued its earnings results on Wednesday, October 30th. The insurance provider reported $1.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.94 by $0.05. The business had revenue of $4.72 billion during 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 quarter in the prior year, the firm earned $2.31 earnings per share. Equities analysts anticipate that Arch Capital Group Ltd. will post 8.99 EPS for the current fiscal 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 issued a dividend of $5.00 per share. The ex-dividend date was Monday, November 18th.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. StockNews.com cut Arch Capital Group from a “buy” rating to a “hold” rating in a research report on Thursday, October 24th. TD Cowen upped their target price on shares of Arch Capital Group from $116.00 to $138.00 and gave the stock a “buy” rating in a report on Friday, September 20th. Evercore ISI raised their price target on shares of Arch Capital Group from $104.00 to $107.00 and gave the company an “in-line” rating in a report on Wednesday, October 9th. Wells Fargo & Company reduced their price target on shares of Arch Capital Group from $109.00 to $107.00 and set an “overweight” rating for the company in a research report on Tuesday. Finally, Bank of America dropped their price objective on Arch Capital Group from $143.00 to $136.00 and set a “buy” rating for the company in a research note on Friday, November 15th. Six investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $118.00.

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.