Park Avenue Securities LLC Grows Stock Holdings in Arch Capital Group Ltd. (NASDAQ:ACGL)

Park Avenue Securities LLC grew its holdings in Arch Capital Group Ltd. (NASDAQ:ACGL) by 5.7% during the fourth quarter, HoldingsChannel.com reports. The fund owned 25,990 shares of the insurance provider’s stock after purchasing an additional 1,408 shares during the quarter. Park Avenue Securities LLC’s holdings in Arch Capital Group were worth $2,400,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in ACGL. State Street Corp increased its holdings in 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 valued at $1,855,803,000 after purchasing an additional 172,628 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Arch Capital Group by 2.4% in the third quarter. Geode Capital Management LLC now owns 10,830,263 shares of the insurance provider’s stock valued at $1,208,307,000 after buying an additional 253,648 shares in the last quarter. Principal Financial Group Inc. grew its stake in shares of Arch Capital Group by 4.8% in the third quarter. Principal Financial Group Inc. now owns 7,438,738 shares of the insurance provider’s stock valued at $832,246,000 after buying an additional 337,786 shares in the last quarter. Allspring Global Investments Holdings LLC raised its holdings in shares of 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 valued at $573,301,000 after buying an additional 49,426 shares during the period. Finally, Legal & General Group Plc lifted its position in Arch Capital Group by 10.1% during the 2nd quarter. Legal & General Group Plc now owns 3,455,949 shares of the insurance provider’s stock worth $348,671,000 after acquiring an additional 316,070 shares in the last quarter. Institutional investors and hedge funds own 89.07% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on ACGL. Wells Fargo & Company dropped their price objective on shares of Arch Capital Group from $109.00 to $107.00 and set an “overweight” rating on the stock in a research note on Tuesday. TD Cowen upped their price objective 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. JPMorgan Chase & Co. dropped their target price on Arch Capital Group from $110.00 to $106.00 and set a “neutral” rating on the stock in a research report on Friday, January 3rd. JMP Securities increased their price target on Arch Capital Group from $115.00 to $125.00 and gave the company a “market outperform” rating in a report on Tuesday, October 15th. Finally, BMO Capital Markets lifted their price objective on Arch Capital Group from $98.00 to $104.00 and gave the stock a “market perform” rating in a report on Wednesday, November 6th. Six equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Arch Capital Group has an average rating of “Moderate Buy” and an average price target of $118.00.

Arch Capital Group Stock Performance

ACGL stock opened at $95.51 on Friday. The stock’s 50 day simple moving average is $95.15 and its 200 day simple moving average is $101.54. Arch Capital Group Ltd. has a 12-month low of $77.53 and a 12-month high of $116.47. The firm has a market cap of $35.93 billion, a P/E ratio of 6.41, a P/E/G ratio of 1.41 and a beta of 0.64. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 0.17.

Arch Capital Group (NASDAQ:ACGL) last issued its 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. Arch Capital Group had a net margin of 33.86% and a return on equity of 18.94%. The company had revenue of $4.72 billion for the quarter, compared to analysts’ expectations of $4.05 billion. During the same period in the prior year, the company earned $2.31 earnings per share. As a group, equities research analysts predict that Arch Capital Group Ltd. will post 8.85 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. Stockholders of record on Monday, November 18th were issued a dividend of $5.00 per share. The ex-dividend date of this dividend 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.