Kentucky Retirement Systems Insurance Trust Fund Cuts Stake in Arch Capital Group Ltd. (NASDAQ:ACGL)

Kentucky Retirement Systems Insurance Trust Fund lessened its stake in Arch Capital Group Ltd. (NASDAQ:ACGL) by 8.1% in the third quarter, HoldingsChannel reports. The fund owned 11,089 shares of the insurance provider’s stock after selling 973 shares during the period. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Arch Capital Group were worth $1,241,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Archer Investment Corp purchased a new stake in Arch Capital Group in the third quarter worth $277,000. Empowered Funds LLC boosted its position in shares of Arch Capital Group by 4.6% during the third quarter. Empowered Funds LLC now owns 12,839 shares of the insurance provider’s stock valued at $1,436,000 after buying an additional 564 shares during the last quarter. CIBC Asset Management Inc boosted its holdings in shares of Arch Capital Group by 8.4% during the 3rd quarter. CIBC Asset Management Inc now owns 54,616 shares of the insurance provider’s stock valued at $6,110,000 after acquiring an additional 4,245 shares during the last quarter. Metis Global Partners LLC grew its position in Arch Capital Group by 26.6% in the 3rd quarter. Metis Global Partners LLC now owns 25,465 shares of the insurance provider’s stock worth $2,849,000 after purchasing an additional 5,345 shares during the period. Finally, Huntington National Bank grew its holdings in shares of Arch Capital Group by 21.2% in the third quarter. Huntington National Bank now owns 2,309 shares of the insurance provider’s stock worth $258,000 after acquiring an additional 404 shares during the period. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on ACGL. Evercore ISI lifted their target price on shares of Arch Capital Group from $104.00 to $107.00 and gave the company an “in-line” rating in a research note on Wednesday, October 9th. Royal Bank of Canada lowered their target price on shares of Arch Capital Group from $128.00 to $125.00 and set an “outperform” rating for the company in a research note on Friday, November 1st. Roth Mkm boosted their price target on shares of Arch Capital Group from $110.00 to $125.00 and gave the company a “buy” rating in a report on Friday, August 23rd. JPMorgan Chase & Co. raised their target price on shares of Arch Capital Group from $108.00 to $110.00 and gave the company a “neutral” rating in a research note on Thursday, October 10th. Finally, JMP Securities boosted their price objective on shares of Arch Capital Group from $115.00 to $125.00 and gave the company a “market outperform” rating in a report on Tuesday, October 15th. Six investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $118.94.

Arch Capital Group Price Performance

Shares of ACGL opened at $101.83 on Monday. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 0.17. The firm has a market cap of $38.31 billion, a price-to-earnings ratio of 6.83, a PEG ratio of 1.47 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 stock has a 50 day moving average of $108.03 and a 200-day moving average of $103.36.

Arch Capital Group (NASDAQ:ACGL) last issued its 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. Arch Capital Group had a net margin of 33.86% and a return on equity of 18.94%. The firm had revenue of $4.72 billion for the quarter, compared to analysts’ expectations of $4.05 billion. During the same quarter last year, the company posted $2.31 earnings per share. As a group, analysts forecast that Arch Capital Group Ltd. will post 9.01 EPS for the current year.

Arch Capital Group Dividend Announcement

The business 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 $5.00 dividend. The ex-dividend date of this dividend is Monday, November 18th.

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.