Arch Capital Group Ltd. (NASDAQ:ACGL) Position Reduced by Lord Abbett & CO. LLC

Lord Abbett & CO. LLC trimmed its position in Arch Capital Group Ltd. (NASDAQ:ACGL) by 2.9% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 729,654 shares of the insurance provider’s stock after selling 21,778 shares during the period. Lord Abbett & CO. LLC owned approximately 0.19% of Arch Capital Group worth $81,634,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. State Street Corp grew its holdings in shares of Arch Capital Group by 1.1% in the 3rd quarter. State Street Corp now owns 16,587,446 shares of the insurance provider’s stock worth $1,855,803,000 after acquiring an additional 172,628 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Arch Capital Group by 2.4% in the 3rd quarter. Geode Capital Management LLC now owns 10,830,263 shares of the insurance provider’s stock valued at $1,208,307,000 after purchasing an additional 253,648 shares during the period. Principal Financial Group Inc. increased its stake in 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 raised its holdings in Arch Capital Group by 1.0% during the 3rd 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 during the period. Finally, Dimensional Fund Advisors LP raised its holdings in Arch Capital Group by 6.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,925,288 shares of the insurance provider’s stock worth $396,026,000 after buying an additional 244,285 shares during the period. 89.07% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms have weighed in on ACGL. Wells Fargo & Company lowered their price objective on shares of Arch Capital Group from $118.00 to $109.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 19th. StockNews.com downgraded Arch Capital Group from a “buy” rating to a “hold” rating in a report on Thursday, October 24th. Roth Mkm increased their price objective on Arch Capital Group from $110.00 to $125.00 and gave the stock a “buy” rating in a research note on Friday, August 23rd. Evercore ISI raised their price objective on 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. Finally, Citigroup upped their target price on Arch Capital Group from $105.00 to $114.00 and gave the company a “neutral” rating in a report on Tuesday, September 10th. Six research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $118.38.

Arch Capital Group Stock Down 0.5 %

ACGL stock opened at $93.42 on Friday. The stock has a market capitalization of $35.15 billion, a price-to-earnings ratio of 6.27, a price-to-earnings-growth ratio of 1.50 and a beta of 0.62. The company has a 50-day moving average of $102.03 and a two-hundred day moving average of $103.06. Arch Capital Group Ltd. has a 52-week low of $72.85 and a 52-week high of $116.47. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.58 and a quick ratio of 0.58.

Arch Capital Group (NASDAQ:ACGL) last released its earnings results on Wednesday, October 30th. The insurance provider reported $1.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.94 by $0.05. The firm had revenue of $4.72 billion for 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 last year, the firm posted $2.31 EPS. As a group, equities research analysts anticipate that Arch Capital Group Ltd. will post 8.99 EPS for the current year.

Arch Capital Group Dividend Announcement

The business also recently announced a special dividend, which was paid on Wednesday, December 4th. Investors of record on Monday, November 18th were paid a $5.00 dividend. The ex-dividend date was Monday, November 18th.

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.