Arch Capital Group Ltd. (NASDAQ:ACGL) Shares Bought by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company raised its holdings in shares of Arch Capital Group Ltd. (NASDAQ:ACGL) by 1.1% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 304,883 shares of the insurance provider’s stock after acquiring an additional 3,285 shares during the quarter. The Manufacturers Life Insurance Company owned approximately 0.08% of Arch Capital Group worth $34,110,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in ACGL. UMB Bank n.a. acquired a new stake in Arch Capital Group during the 2nd quarter worth $30,000. Baldwin Brothers LLC MA lifted its holdings in shares of Arch Capital Group by 50.7% in the 2nd quarter. Baldwin Brothers LLC MA now owns 309 shares of the insurance provider’s stock valued at $31,000 after purchasing an additional 104 shares during the last quarter. Rothschild Investment LLC acquired a new stake in shares of Arch Capital Group in the 2nd quarter valued at about $35,000. LRI Investments LLC purchased a new position in Arch Capital Group during the 1st quarter worth approximately $38,000. Finally, Compagnie Lombard Odier SCmA acquired a new position in Arch Capital Group during the third quarter worth approximately $46,000. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Evercore ISI raised their target price on shares of Arch Capital Group from $104.00 to $107.00 and gave the stock an “in-line” rating in a research report on Wednesday, October 9th. Jefferies Financial Group lifted their price objective 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. Royal Bank of Canada decreased their target price on shares of Arch Capital Group from $128.00 to $125.00 and set an “outperform” rating for the company in a research note on Friday, November 1st. BMO Capital Markets boosted their price target on Arch Capital Group from $98.00 to $104.00 and gave the company a “market perform” rating in a research report on Wednesday, November 6th. Finally, JPMorgan Chase & Co. increased their price objective on Arch Capital Group from $108.00 to $110.00 and gave the stock a “neutral” rating in a research report on Thursday, October 10th. Six analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $118.38.

Arch Capital Group Trading Down 0.0 %

Shares of ACGL opened at $100.72 on Friday. Arch Capital Group Ltd. has a twelve month low of $72.85 and a twelve month high of $116.47. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 0.17. The firm has a market capitalization of $37.89 billion, a P/E ratio of 6.76, a PEG ratio of 1.60 and a beta of 0.61. The firm’s 50-day moving average is $105.65 and its two-hundred day moving average is $103.35.

Arch Capital Group (NASDAQ:ACGL) last released its quarterly earnings results on Wednesday, October 30th. The insurance provider reported $1.99 earnings per share for the quarter, topping 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 quarter in the prior year, the firm posted $2.31 EPS. On average, research analysts predict that Arch Capital Group Ltd. will post 8.99 earnings per share for the current fiscal year.

Arch Capital Group Dividend Announcement

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

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.