Oppenheimer & Co. Inc. Buys 1,321 Shares of Arch Capital Group Ltd. (NASDAQ:ACGL)

Oppenheimer & Co. Inc. boosted its position in shares of Arch Capital Group Ltd. (NASDAQ:ACGL) by 7.2% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 19,735 shares of the insurance provider’s stock after purchasing an additional 1,321 shares during the period. Oppenheimer & Co. Inc.’s holdings in Arch Capital Group were worth $2,208,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Sequoia Financial Advisors LLC grew its position in Arch Capital Group by 2.6% during the 2nd 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 during the last quarter. Cetera Advisors LLC increased its stake in shares of Arch Capital Group by 70.9% in the first quarter. Cetera Advisors LLC now owns 13,700 shares of the insurance provider’s stock valued at $1,266,000 after buying an additional 5,684 shares in the last quarter. Swedbank AB bought a new position in shares of Arch Capital Group in the first quarter valued at about $25,060,000. Price T Rowe Associates Inc. MD lifted its position 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 worth $97,299,000 after buying an additional 7,109 shares in the last quarter. Finally, Vanguard Group Inc. grew its holdings in 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 worth $3,776,996,000 after acquiring an additional 104,008 shares during the last quarter. 89.07% of the stock is currently owned by institutional investors and hedge funds.

Arch Capital Group Price Performance

Shares of ACGL stock opened at $101.83 on Friday. The firm has a market capitalization of $38.31 billion, a price-to-earnings ratio of 6.83, a price-to-earnings-growth 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 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 fifty day moving average of $108.03 and a 200-day moving average of $103.31.

Arch Capital Group (NASDAQ:ACGL) last announced its quarterly 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. Arch Capital Group had a return on equity of 18.94% and a net margin of 33.86%. The company had revenue of $4.72 billion during the quarter, compared to the consensus estimate of $4.05 billion. During the same period in the prior year, the company earned $2.31 earnings per share. On average, equities research analysts forecast that Arch Capital Group Ltd. will post 9.02 earnings per share for the current year.

Arch Capital Group Announces Dividend

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

Wall Street Analysts Forecast Growth

ACGL has been the topic of a number of research reports. StockNews.com lowered shares of Arch Capital Group from a “buy” rating to a “hold” rating in a research report on Thursday, October 24th. Roth Mkm increased their price objective 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. Evercore ISI lifted their target price on Arch Capital Group from $104.00 to $107.00 and gave the company an “in-line” rating in a research note on Wednesday, October 9th. Bank of America cut their price target on Arch Capital Group from $143.00 to $136.00 and set a “buy” rating on the stock in a research note on Friday. Finally, Royal Bank of Canada lowered their price objective on Arch Capital Group from $128.00 to $125.00 and set an “outperform” rating for the company in a research report on Friday, November 1st. Six analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $118.94.

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.