Archer Investment Corp Purchases Shares of 2,477 Arch Capital Group Ltd. (NASDAQ:ACGL)

Archer Investment Corp bought a new position in shares of Arch Capital Group Ltd. (NASDAQ:ACGL) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 2,477 shares of the insurance provider’s stock, valued at approximately $277,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Sequoia Financial Advisors LLC lifted its stake in shares of Arch Capital Group by 2.6% in the second quarter. Sequoia Financial Advisors LLC now owns 20,871 shares of the insurance provider’s stock worth $2,106,000 after buying an additional 519 shares in the last quarter. Cetera Advisors LLC raised its holdings in Arch Capital Group by 70.9% in the 1st quarter. Cetera Advisors LLC now owns 13,700 shares of the insurance provider’s stock valued at $1,266,000 after buying an additional 5,684 shares during the period. Swedbank AB purchased a new stake in Arch Capital Group in the 1st quarter valued at about $25,060,000. Price T Rowe Associates Inc. MD lifted its position in Arch Capital Group by 0.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,052,549 shares of the insurance provider’s stock valued at $97,299,000 after buying an additional 7,109 shares during the last quarter. Finally, Vanguard Group Inc. boosted its stake in Arch Capital Group by 0.3% during the first quarter. Vanguard Group Inc. now owns 40,858,890 shares of the insurance provider’s stock worth $3,776,996,000 after buying an additional 104,008 shares during the period. 89.07% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ACGL has been the topic of a number of research analyst reports. Wells Fargo & Company cut their target price on Arch Capital Group from $126.00 to $118.00 and set an “overweight” rating on the stock in a research report on Monday, November 4th. StockNews.com downgraded shares of Arch Capital Group from a “buy” rating to a “hold” rating in a research note on Thursday, October 24th. BMO Capital Markets increased their price objective on Arch Capital Group from $98.00 to $104.00 and gave the company a “market perform” rating in a report on Wednesday, November 6th. Keefe, Bruyette & Woods boosted their target price on Arch Capital Group from $120.00 to $121.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 7th. Finally, Barclays assumed coverage on shares of Arch Capital Group in a research note on Wednesday, September 4th. They issued an “equal weight” rating and a $120.00 price target on the stock. Six investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $118.94.

Arch Capital Group Stock Performance

NASDAQ:ACGL traded up $1.76 during mid-day trading on Friday, reaching $101.81. The stock had a trading volume of 351,740 shares, compared to its average volume of 1,665,650. The business has a 50 day simple moving average of $108.21 and a 200 day simple moving average of $103.17. The firm has a market capitalization of $38.31 billion, a price-to-earnings ratio of 6.71, a PEG ratio of 1.46 and a beta of 0.61. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.58 and a current ratio of 0.58. Arch Capital Group Ltd. has a twelve month low of $72.85 and a twelve month high of $116.47.

Arch Capital Group (NASDAQ:ACGL) last released 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. Arch Capital Group had a return on equity of 18.94% and a net margin of 33.86%. The company had revenue of $4.72 billion for the quarter, compared to analyst estimates of $4.05 billion. During the same period last year, the company posted $2.31 earnings per share. On average, analysts expect that Arch Capital Group Ltd. will post 9.02 earnings per share for the current fiscal year.

Arch Capital Group Dividend Announcement

The firm also recently announced a special dividend, which will be paid on Wednesday, December 4th. Shareholders of record on Monday, November 18th will be given a $5.00 dividend. The ex-dividend date of this dividend is Monday, November 18th.

Arch Capital Group 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.