Wright Investors Service Inc. Sells 10,585 Shares of Arch Capital Group Ltd. (NASDAQ:ACGL)

Wright Investors Service Inc. lowered its stake in shares of Arch Capital Group Ltd. (NASDAQ:ACGL) by 51.6% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 9,944 shares of the insurance provider’s stock after selling 10,585 shares during the period. Wright Investors Service Inc.’s holdings in Arch Capital Group were worth $918,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. State Street Corp raised its position in Arch Capital Group by 1.1% during the third quarter. State Street Corp now owns 16,587,446 shares of the insurance provider’s stock worth $1,855,803,000 after acquiring an additional 172,628 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Arch Capital Group by 2.4% during the 3rd quarter. Geode Capital Management LLC now owns 10,830,263 shares of the insurance provider’s stock worth $1,208,307,000 after purchasing an additional 253,648 shares during the last quarter. Principal Financial Group Inc. increased its stake in shares of Arch Capital Group by 4.8% during the 3rd quarter. Principal Financial Group Inc. now owns 7,438,738 shares of the insurance provider’s stock worth $832,246,000 after purchasing an additional 337,786 shares during the last quarter. Allspring Global Investments Holdings LLC raised its holdings in shares of Arch Capital Group by 1.0% in 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 purchasing an additional 49,426 shares during the period. Finally, Dimensional Fund Advisors LP lifted its stake in Arch Capital Group by 6.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,925,288 shares of the insurance provider’s stock valued at $396,026,000 after purchasing an additional 244,285 shares during the last quarter. Institutional investors and hedge funds own 89.07% of the company’s stock.

Arch Capital Group Stock Performance

Shares of NASDAQ:ACGL opened at $90.83 on Tuesday. 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 Ltd. has a 12-month low of $77.53 and a 12-month high of $116.47. The company’s 50 day moving average price is $95.60 and its two-hundred day moving average price is $101.73. The firm has a market cap of $34.17 billion, a PE ratio of 6.10, a PEG ratio of 1.49 and a beta of 0.64.

Arch Capital Group (NASDAQ:ACGL) last issued its quarterly earnings results on Wednesday, October 30th. The insurance provider reported $1.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.94 by $0.05. The business 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 business posted $2.31 earnings per share. Equities research analysts predict that Arch Capital Group Ltd. will post 8.99 earnings per share for the current year.

Arch Capital Group Announces Dividend

The business also recently declared a special dividend, which was paid on Wednesday, December 4th. Investors of record on Monday, November 18th were paid a $5.00 dividend. The ex-dividend date of this dividend was Monday, November 18th.

Analysts Set New Price Targets

A number of equities analysts have weighed in on ACGL shares. Wells Fargo & Company lowered their price target on Arch Capital Group from $118.00 to $109.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 19th. Barclays dropped their price target on Arch Capital Group from $120.00 to $100.00 and set an “equal weight” rating on the stock in a research note on Monday, January 6th. Royal Bank of Canada cut their price target on Arch Capital Group from $128.00 to $125.00 and set an “outperform” rating for the company in a report on Friday, November 1st. Jefferies Financial Group upped their price objective on shares of Arch Capital Group from $114.00 to $134.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Finally, Keefe, Bruyette & Woods cut their target price on shares of Arch Capital Group from $121.00 to $120.00 and set an “outperform” rating for the company in a research note on Friday. Six analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $118.13.

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.