Moors & Cabot Inc. Makes New Investment in Arch Capital Group Ltd. (NASDAQ:ACGL)

Moors & Cabot Inc. bought a new position in shares of Arch Capital Group Ltd. (NASDAQ:ACGL) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 2,219 shares of the insurance provider’s stock, valued at approximately $250,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Advisors Asset Management Inc. grew its stake in Arch Capital Group by 9.8% during the 3rd quarter. Advisors Asset Management Inc. now owns 9,980 shares of the insurance provider’s stock worth $1,117,000 after buying an additional 890 shares during the last quarter. West Family Investments Inc. boosted its holdings in shares of Arch Capital Group by 21.9% in the third quarter. West Family Investments Inc. now owns 3,022 shares of the insurance provider’s stock valued at $338,000 after acquiring an additional 542 shares during the period. PNC Financial Services Group Inc. grew its position in shares of Arch Capital Group by 10.0% during the third quarter. PNC Financial Services Group Inc. now owns 71,721 shares of the insurance provider’s stock worth $8,024,000 after acquiring an additional 6,521 shares during the last quarter. Banque Cantonale Vaudoise increased its holdings in shares of Arch Capital Group by 172.2% in the 3rd quarter. Banque Cantonale Vaudoise now owns 55,423 shares of the insurance provider’s stock valued at $6,201,000 after acquiring an additional 35,060 shares during the period. Finally, Fifth Third Wealth Advisors LLC raised its position in Arch Capital Group by 8.7% in the 3rd quarter. Fifth Third Wealth Advisors LLC now owns 2,955 shares of the insurance provider’s stock valued at $331,000 after purchasing an additional 237 shares during the last quarter. 89.07% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. StockNews.com downgraded shares of Arch Capital Group from a “buy” rating to a “hold” rating in a research report on Thursday, October 24th. Citigroup raised their price target on Arch Capital Group from $105.00 to $114.00 and gave the stock a “neutral” rating in a report on Tuesday, September 10th. Barclays started coverage on Arch Capital Group in a research note on Wednesday, September 4th. They set an “equal weight” rating and a $120.00 price objective for the company. JMP Securities lifted their target price on Arch Capital Group from $115.00 to $125.00 and gave the company a “market outperform” rating in a research note on Tuesday, October 15th. Finally, Bank of America cut their price target on Arch Capital Group from $143.00 to $136.00 and set a “buy” rating for the company in a research note on Friday, November 15th. Six research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $118.38.

Arch Capital Group Stock Up 1.1 %

Shares of NASDAQ ACGL opened at $99.69 on Monday. The stock has a market capitalization of $37.51 billion, a price-to-earnings ratio of 6.69, a price-to-earnings-growth ratio of 1.56 and a beta of 0.61. Arch Capital Group Ltd. has a 52 week low of $72.85 and a 52 week high of $116.47. The firm has a 50-day moving average price of $106.67 and a 200 day moving average price of $103.38. 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 (NASDAQ:ACGL) last announced its quarterly earnings results on Wednesday, October 30th. The insurance provider reported $1.99 EPS for the quarter, topping the consensus estimate of $1.94 by $0.05. The business had revenue of $4.72 billion for the quarter, compared to analyst estimates 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 previous year, the company earned $2.31 EPS. Equities research analysts anticipate that Arch Capital Group Ltd. will post 9.01 EPS for the current fiscal year.

Arch Capital Group Dividend Announcement

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