Victory Capital Management Inc. Cuts Stake in Arch Capital Group Ltd. (NASDAQ:ACGL)

Victory Capital Management Inc. lessened its holdings in shares of Arch Capital Group Ltd. (NASDAQ:ACGL) by 3.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 267,667 shares of the insurance provider’s stock after selling 8,327 shares during the period. Victory Capital Management Inc.’s holdings in Arch Capital Group were worth $29,947,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the business. UMB Bank n.a. purchased a new stake in Arch Capital Group in the second quarter valued at about $30,000. Baldwin Brothers LLC MA raised its position in shares of 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 last quarter. Rothschild Investment LLC acquired a new stake in Arch Capital Group in the 2nd quarter worth approximately $35,000. LRI Investments LLC purchased a new stake in Arch Capital Group during the 1st quarter worth approximately $40,000. Finally, Compagnie Lombard Odier SCmA purchased a new stake in shares of Arch Capital Group during the third quarter valued at $46,000. Institutional investors and hedge funds own 89.07% of the company’s stock.

Arch Capital Group Stock Performance

NASDAQ ACGL opened at $101.83 on Friday. The stock has a market capitalization of $38.31 billion, a price-to-earnings ratio of 6.83, a PEG ratio of 1.46 and a beta of 0.61. The stock 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 Ltd. has a twelve month low of $72.85 and a twelve month high of $116.47.

Arch Capital Group (NASDAQ:ACGL) last announced its earnings results on Wednesday, October 30th. The insurance provider reported $1.99 earnings per share for the quarter, topping the consensus estimate 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 business had revenue of $4.72 billion during the quarter, compared to the consensus estimate of $4.05 billion. During the same period in the prior year, the company posted $2.31 EPS. Sell-side analysts anticipate that Arch Capital Group Ltd. will post 9.02 EPS for the current fiscal year.

Arch Capital Group Announces Dividend

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 issued a dividend of $5.00 per share. The ex-dividend date is Monday, November 18th.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. Citigroup lifted their price target 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. BMO Capital Markets upped their target price on Arch Capital Group from $98.00 to $104.00 and gave the company a “market perform” rating in a research report on Wednesday, November 6th. Keefe, Bruyette & Woods raised their price target on shares of Arch Capital Group from $120.00 to $121.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 7th. Jefferies Financial Group lifted their price objective on shares of Arch Capital Group from $114.00 to $134.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Arch Capital Group from $108.00 to $110.00 and gave the stock a “neutral” rating in a research note on Thursday, October 10th. 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.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $118.94.

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.