Graypoint LLC Invests $212,000 in Arch Capital Group Ltd. (NASDAQ:ACGL)

Graypoint LLC bought a new stake in shares of Arch Capital Group Ltd. (NASDAQ:ACGL) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 1,896 shares of the insurance provider’s stock, valued at approximately $212,000.

Several other hedge funds also recently bought and sold shares of ACGL. UMB Bank n.a. purchased a new position in shares of Arch Capital Group in the second quarter valued at about $30,000. Baldwin Brothers LLC MA lifted its holdings in Arch Capital Group by 50.7% in the 2nd quarter. Baldwin Brothers LLC MA now owns 309 shares of the insurance provider’s stock worth $31,000 after purchasing an additional 104 shares in the last quarter. Rothschild Investment LLC bought a new position in Arch Capital Group in the 2nd quarter worth approximately $35,000. LRI Investments LLC purchased a new stake in Arch Capital Group during the 1st quarter valued at approximately $38,000. Finally, Versant Capital Management Inc raised its position in shares of Arch Capital Group by 40.3% during the second quarter. Versant Capital Management Inc now owns 456 shares of the insurance provider’s stock valued at $46,000 after buying an additional 131 shares during the last quarter. Institutional investors own 89.07% of the company’s stock.

Insider Activity at Arch Capital Group

In related news, CFO Francois Morin sold 11,460 shares of Arch Capital Group stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $102.46, for a total value of $1,174,191.60. Following the completion of the sale, the chief financial officer now directly owns 221,779 shares in the company, valued at $22,723,476.34. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 4.20% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

ACGL has been the subject of a number of research reports. Evercore ISI upped 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. Citigroup raised their price objective on Arch Capital Group from $105.00 to $114.00 and gave the company a “neutral” rating in a research report on Tuesday, September 10th. Barclays began coverage on Arch Capital Group in a research report on Wednesday, September 4th. They issued an “equal weight” rating and a $120.00 target price on the stock. JPMorgan Chase & Co. raised their price target on Arch Capital Group from $108.00 to $110.00 and gave the company a “neutral” rating in a report on Thursday, October 10th. Finally, StockNews.com downgraded Arch Capital Group from a “buy” rating to a “hold” rating in a research note on Thursday, October 24th. Six research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, Arch Capital Group has a consensus rating of “Moderate Buy” and an average target price of $118.88.

Arch Capital Group Stock Up 2.1 %

Shares of NASDAQ:ACGL opened at $101.85 on Friday. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.58 and a quick ratio of 0.60. The business has a 50 day simple moving average of $109.19 and a two-hundred day simple moving average of $103.01. Arch Capital Group Ltd. has a 1 year low of $72.85 and a 1 year high of $116.47. The firm has a market capitalization of $38.30 billion, a PE ratio of 6.84, a price-to-earnings-growth ratio of 1.47 and a beta of 0.61.

Arch Capital Group (NASDAQ:ACGL) last announced its quarterly earnings data on Wednesday, October 30th. The insurance provider reported $1.99 EPS for the quarter, beating the consensus estimate of $1.94 by $0.05. The company had revenue of $4.72 billion for the quarter, compared to the consensus estimate 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 company posted $2.31 EPS. On average, equities analysts predict that Arch Capital Group Ltd. will post 9 EPS for the current year.

Arch Capital Group Dividend Announcement

The business 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.

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.