Fifth Third Bancorp Sells 1,176 Shares of Arch Capital Group Ltd. (NASDAQ:ACGL)

Fifth Third Bancorp cut its stake in Arch Capital Group Ltd. (NASDAQ:ACGL) by 21.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,266 shares of the insurance provider’s stock after selling 1,176 shares during the quarter. Fifth Third Bancorp’s holdings in Arch Capital Group were worth $394,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of ACGL. Creative Planning lifted its holdings in Arch Capital Group by 14.4% in the second quarter. Creative Planning now owns 36,230 shares of the insurance provider’s stock worth $3,655,000 after buying an additional 4,571 shares during the period. NewEdge Advisors LLC boosted its position in shares of Arch Capital Group by 18.8% during the second quarter. NewEdge Advisors LLC now owns 14,914 shares of the insurance provider’s stock valued at $1,505,000 after purchasing an additional 2,361 shares in the last quarter. Cetera Investment Advisers boosted its position in shares of Arch Capital Group by 18.4% during the second quarter. Cetera Investment Advisers now owns 49,193 shares of the insurance provider’s stock valued at $4,963,000 after purchasing an additional 7,652 shares in the last quarter. Sanctuary Advisors LLC purchased a new stake in Arch Capital Group in the second quarter worth $5,412,000. Finally, M&R Capital Management Inc. raised its holdings in Arch Capital Group by 1.5% in the third quarter. M&R Capital Management Inc. now owns 36,608 shares of the insurance provider’s stock worth $4,096,000 after purchasing an additional 548 shares in the last quarter. 89.07% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Keefe, Bruyette & Woods reduced their target price on shares of Arch Capital Group from $121.00 to $120.00 and set an “outperform” rating on the stock in a research report on Friday, January 10th. JPMorgan Chase & Co. lowered their target price on shares of Arch Capital Group from $110.00 to $106.00 and set a “neutral” rating for the company in a report on Friday, January 3rd. Evercore ISI upped their price target on Arch Capital Group from $104.00 to $107.00 and gave the stock an “in-line” rating in a research note on Wednesday, October 9th. Bank of America lowered 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. Finally, JMP Securities increased their target price on Arch Capital Group from $115.00 to $125.00 and gave the stock a “market outperform” rating in a research note on Tuesday, October 15th. Six analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $118.00.

Arch Capital Group Stock Up 0.8 %

ACGL opened at $94.58 on Friday. The stock has a market capitalization of $35.58 billion, a price-to-earnings ratio of 6.35, a PEG ratio of 1.52 and a beta of 0.64. The firm has a 50 day moving average price of $94.31 and a 200-day moving average price of $101.32. Arch Capital Group Ltd. has a twelve month low of $80.97 and a twelve 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.

Arch Capital Group (NASDAQ:ACGL) last announced its earnings results on Wednesday, October 30th. The insurance provider reported $1.99 earnings per share for the quarter, beating analysts’ consensus estimates 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 net margin of 33.86% and a return on equity of 18.94%. During the same period in the previous year, the business earned $2.31 EPS. Equities research analysts forecast that Arch Capital Group Ltd. will post 8.86 earnings per share for the current year.

Arch Capital Group Dividend Announcement

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