Martingale Asset Management L P Sells 27,456 Shares of Arch Capital Group Ltd. (NASDAQ:ACGL)

Martingale Asset Management L P lessened its position in Arch Capital Group Ltd. (NASDAQ:ACGL) by 18.5% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 121,063 shares of the insurance provider’s stock after selling 27,456 shares during the period. Martingale Asset Management L P’s holdings in Arch Capital Group were worth $13,545,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. B. Riley Wealth Advisors Inc. boosted its stake in shares of Arch Capital Group by 14.8% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 8,020 shares of the insurance provider’s stock valued at $741,000 after purchasing an additional 1,034 shares in the last quarter. LRI Investments LLC bought a new stake in shares of Arch Capital Group during the 1st quarter valued at about $38,000. Swedbank AB bought a new stake in shares of Arch Capital Group during the 1st quarter valued at about $25,060,000. Atria Investments Inc boosted its stake in shares of Arch Capital Group by 19.7% during the 1st quarter. Atria Investments Inc now owns 24,463 shares of the insurance provider’s stock valued at $2,261,000 after purchasing an additional 4,018 shares in the last quarter. Finally, Cetera Investment Advisers boosted its stake in shares of Arch Capital Group by 155.9% during the 1st quarter. Cetera Investment Advisers now owns 41,541 shares of the insurance provider’s stock valued at $3,840,000 after purchasing an additional 25,306 shares in the last quarter. Institutional investors own 89.07% of the company’s stock.

Arch Capital Group Stock Up 0.3 %

ACGL opened at $100.74 on Friday. 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 50 day moving average price of $105.87 and a 200-day moving average price of $103.37. Arch Capital Group Ltd. has a twelve month low of $72.85 and a twelve month high of $116.47. The stock has a market capitalization of $37.90 billion, a price-to-earnings ratio of 6.76, a PEG ratio of 1.60 and a beta of 0.61.

Arch Capital Group (NASDAQ:ACGL) last released its quarterly earnings data on Wednesday, October 30th. The insurance provider reported $1.99 earnings per share for the quarter, beating the consensus estimate 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 firm had revenue of $4.72 billion during the quarter, compared to analysts’ expectations of $4.05 billion. During the same period in the previous year, the company earned $2.31 earnings per share. Equities research analysts forecast that Arch Capital Group Ltd. will post 8.99 earnings per share for the current year.

Arch Capital Group Dividend Announcement

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

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. Jefferies Financial Group lifted their target price on shares of Arch Capital Group from $114.00 to $134.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Citigroup lifted their price target on shares of Arch Capital Group from $105.00 to $114.00 and gave the company a “neutral” rating in a research report on Tuesday, September 10th. Wells Fargo & Company lowered their price target on shares of Arch Capital Group from $118.00 to $109.00 and set an “overweight” rating for the company in a research report on Tuesday, November 19th. TD Cowen lifted their price target on shares of Arch Capital Group from $116.00 to $138.00 and gave the company a “buy” rating in a research report on Friday, September 20th. Finally, JMP Securities lifted their price target on shares of Arch Capital Group from $115.00 to $125.00 and gave the company a “market outperform” rating in a research report on Tuesday, October 15th. Six analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $118.38.

About Arch Capital Group

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.