Mount Lucas Management LP Sells 28,195 Shares of Arch Capital Group Ltd. (NASDAQ:ACGL)

Mount Lucas Management LP decreased its holdings in shares of Arch Capital Group Ltd. (NASDAQ:ACGL) by 48.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 30,208 shares of the insurance provider’s stock after selling 28,195 shares during the quarter. Arch Capital Group comprises approximately 1.1% of Mount Lucas Management LP’s holdings, making the stock its 12th largest position. Mount Lucas Management LP’s holdings in Arch Capital Group were worth $3,380,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. UMB Bank n.a. acquired a new stake in shares of Arch Capital Group in the second quarter worth $30,000. Baldwin Brothers LLC MA boosted 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 valued at $31,000 after purchasing an additional 104 shares during the period. Rothschild Investment LLC acquired a new stake in Arch Capital Group in the 2nd quarter worth $35,000. LRI Investments LLC bought a new position in shares of Arch Capital Group during the 1st quarter worth about $40,000. Finally, Compagnie Lombard Odier SCmA acquired a new position in shares of Arch Capital Group during the third quarter valued at about $46,000. Institutional investors and hedge funds own 89.07% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on ACGL. Citigroup lifted their target price on Arch Capital Group from $105.00 to $114.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 10th. Jefferies Financial Group boosted their price objective on Arch Capital Group from $114.00 to $134.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Evercore ISI upped their target price on Arch Capital Group from $104.00 to $107.00 and gave the company an “in-line” rating in a research note on Wednesday, October 9th. StockNews.com downgraded shares of Arch Capital Group from a “buy” rating to a “hold” rating in a research note on Thursday, October 24th. Finally, Bank of America dropped their price objective on shares of Arch Capital Group from $143.00 to $136.00 and set a “buy” rating for the company in a research note on Friday. Six analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, Arch Capital Group has an average rating of “Moderate Buy” and an average price target of $118.94.

Arch Capital Group Stock Performance

NASDAQ:ACGL opened at $101.83 on Friday. The stock has a market capitalization of $38.31 billion, a P/E ratio of 6.83, a price-to-earnings-growth ratio of 1.47 and a beta of 0.61. Arch Capital Group Ltd. has a 1 year low of $72.85 and a 1 year high of $116.47. The firm has a 50 day moving average of $108.03 and a 200-day moving average of $103.31. 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 posted its quarterly earnings data on Wednesday, October 30th. The insurance provider reported $1.99 EPS for the quarter, topping analysts’ consensus estimates 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 quarter in the previous year, the firm earned $2.31 earnings per share. As a group, sell-side analysts anticipate that Arch Capital Group Ltd. will post 9.01 EPS for the current fiscal year.

Arch Capital Group Dividend Announcement

The business also recently disclosed 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 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.