Raymond James Trust N.A. Has $714,000 Holdings in Arch Capital Group Ltd. (NASDAQ:ACGL)

Raymond James Trust N.A. lifted its stake in shares of Arch Capital Group Ltd. (NASDAQ:ACGL) by 12.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,379 shares of the insurance provider’s stock after purchasing an additional 685 shares during the period. Raymond James Trust N.A.’s holdings in Arch Capital Group were worth $714,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of ACGL. Principal Financial Group Inc. lifted its holdings in 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 buying an additional 337,786 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its stake in shares of Arch Capital Group by 1.0% during the third quarter. Allspring Global Investments Holdings LLC now owns 5,124,251 shares of the insurance provider’s stock valued at $573,301,000 after acquiring an additional 49,426 shares during the period. Dimensional Fund Advisors LP boosted its holdings in Arch Capital Group by 6.6% in the second quarter. Dimensional Fund Advisors LP now owns 3,925,288 shares of the insurance provider’s stock valued at $396,026,000 after acquiring an additional 244,285 shares during the last quarter. Legal & General Group Plc increased its position in Arch Capital Group by 10.1% in the second quarter. Legal & General Group Plc now owns 3,455,949 shares of the insurance provider’s stock worth $348,671,000 after purchasing an additional 316,070 shares during the period. Finally, Thrivent Financial for Lutherans raised its holdings in Arch Capital Group by 1.7% during the 2nd quarter. Thrivent Financial for Lutherans now owns 1,882,387 shares of the insurance provider’s stock worth $189,914,000 after purchasing an additional 32,115 shares during the last quarter. 89.07% of the stock is owned by institutional investors.

Arch Capital Group Trading Up 0.4 %

ACGL opened at $100.06 on Tuesday. The firm’s fifty day simple moving average is $106.38 and its 200 day simple moving average is $103.39. The stock has a market capitalization of $37.65 billion, a P/E ratio of 6.72, a P/E/G ratio of 1.59 and a beta of 0.61. 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 Ltd. has a 12 month low of $72.85 and a 12 month high of $116.47.

Arch Capital Group (NASDAQ:ACGL) last posted its quarterly earnings data 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 during 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 period last year, the company earned $2.31 earnings per share. As a group, research analysts anticipate that Arch Capital Group Ltd. will post 8.99 EPS 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. Investors of record on Monday, November 18th will be issued a dividend of $5.00 per share. The ex-dividend date of this dividend is Monday, November 18th.

Analyst Ratings Changes

Several brokerages have recently commented on ACGL. Citigroup lifted their price target on shares of Arch Capital Group from $105.00 to $114.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 10th. TD Cowen upped their target price 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. Bank of America reduced their price target on Arch Capital Group from $143.00 to $136.00 and set a “buy” rating on the stock in a research report on Friday, November 15th. JMP Securities upped their price objective 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, Royal Bank of Canada cut their target price on Arch Capital Group from $128.00 to $125.00 and set an “outperform” rating on the stock in a research note on Friday, November 1st. Six research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $118.38.

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.