Pitcairn Co. Reduces Stake in Arch Capital Group Ltd. (NASDAQ:ACGL)

Pitcairn Co. lowered its stake in shares of Arch Capital Group Ltd. (NASDAQ:ACGL) by 13.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,433 shares of the insurance provider’s stock after selling 514 shares during the period. Pitcairn Co.’s holdings in Arch Capital Group were worth $384,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the stock. UMB Bank n.a. purchased a new stake in Arch Capital Group in the second quarter worth $30,000. Baldwin Brothers LLC MA raised its stake 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 acquiring an additional 104 shares during the period. Rothschild Investment LLC purchased a new stake in Arch Capital Group during the second quarter valued at about $35,000. LRI Investments LLC bought a new position in Arch Capital Group during the first quarter worth about $38,000. Finally, Versant Capital Management Inc increased its stake in shares of Arch Capital Group by 40.3% in the second quarter. Versant Capital Management Inc now owns 456 shares of the insurance provider’s stock worth $46,000 after purchasing an additional 131 shares in the last quarter. Institutional investors own 89.07% of the company’s stock.

Arch Capital Group Trading Up 0.3 %

Shares of ACGL stock opened at $100.41 on Wednesday. The business has a 50-day moving average price of $106.38 and a two-hundred day moving average price of $103.39. Arch Capital Group Ltd. has a 12-month low of $72.85 and a 12-month high of $116.47. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 0.17. The firm has a market cap of $37.78 billion, a P/E ratio of 6.74, a price-to-earnings-growth ratio of 1.59 and a beta of 0.61.

Arch Capital Group (NASDAQ:ACGL) last released its earnings results on Wednesday, October 30th. The insurance provider reported $1.99 earnings per share 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 during the quarter, compared to the consensus estimate of $4.05 billion. During the same quarter in the previous year, the company posted $2.31 EPS. Equities analysts anticipate that Arch Capital Group Ltd. will post 8.99 EPS for the current fiscal year.

Arch Capital Group Announces Dividend

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 research firms recently commented on ACGL. JMP Securities raised their price objective on shares of Arch Capital Group from $115.00 to $125.00 and gave the stock a “market outperform” rating in a report on Tuesday, October 15th. Barclays began 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 on the stock. TD Cowen raised their target price on Arch Capital Group from $116.00 to $138.00 and gave the stock a “buy” rating in a research note on Friday, September 20th. Royal Bank of Canada reduced their target price 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. Finally, Keefe, Bruyette & Woods increased their price target on shares of Arch Capital Group from $120.00 to $121.00 and gave the stock an “outperform” rating in a report on Wednesday, August 7th. Six investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price 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.