Brooklyn Investment Group Takes Position in Arch Capital Group Ltd. (NASDAQ:ACGL)

Brooklyn Investment Group acquired a new position in Arch Capital Group Ltd. (NASDAQ:ACGL) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 1,260 shares of the insurance provider’s stock, valued at approximately $141,000.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Quantbot Technologies LP bought a new position in Arch Capital Group in the 3rd quarter worth approximately $25,000. D.A. Davidson & CO. boosted its holdings in Arch Capital Group by 13.0% in the 3rd quarter. D.A. Davidson & CO. now owns 41,430 shares of the insurance provider’s stock worth $4,635,000 after buying an additional 4,753 shares during the period. FMR LLC boosted its holdings in Arch Capital Group by 2.5% in the 3rd quarter. FMR LLC now owns 2,936,940 shares of the insurance provider’s stock worth $328,585,000 after buying an additional 70,899 shares during the period. The Manufacturers Life Insurance Company boosted its holdings in Arch Capital Group by 1.1% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 304,883 shares of the insurance provider’s stock worth $34,110,000 after buying an additional 3,285 shares during the period. Finally, Qsemble Capital Management LP bought a new position in Arch Capital Group in the 3rd quarter worth approximately $265,000. 89.07% of the stock is owned by institutional investors.

Arch Capital Group Price Performance

Shares of Arch Capital Group stock opened at $100.74 on Thursday. The company’s fifty day simple moving average is $106.11 and its two-hundred day simple moving average is $103.39. The firm has a market cap of $37.90 billion, a PE ratio of 6.76, a price-to-earnings-growth ratio of 1.59 and a beta of 0.61. 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 Ltd. has a 12-month low of $72.85 and a 12-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, beating analysts’ consensus estimates of $1.94 by $0.05. The firm had revenue of $4.72 billion for the quarter, compared to analyst estimates of $4.05 billion. Arch Capital Group had a net margin of 33.86% and a return on equity of 18.94%. During the same quarter in the previous year, the firm posted $2.31 EPS. As a group, equities analysts expect that Arch Capital Group Ltd. will post 8.99 EPS for the current year.

Arch Capital Group Dividend Announcement

The firm also recently declared a special dividend, which will be paid on Wednesday, December 4th. Investors of record on Monday, November 18th will be given a dividend of $5.00 per share. The ex-dividend date is Monday, November 18th.

Analyst Ratings Changes

Several analysts have issued reports on ACGL shares. BMO Capital Markets increased their target price on shares of Arch Capital Group from $98.00 to $104.00 and gave the stock a “market perform” rating in a research note on Wednesday, November 6th. JPMorgan Chase & Co. increased their target price 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. Citigroup increased their target price on shares of Arch Capital Group from $105.00 to $114.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 10th. Keefe, Bruyette & Woods raised their price objective on shares of Arch Capital Group from $120.00 to $121.00 and gave the company an “outperform” rating in a research report on Wednesday, August 7th. Finally, Barclays began coverage on shares of Arch Capital Group in a research report on Wednesday, September 4th. They set an “equal weight” rating and a $120.00 price objective on the stock. Six equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Arch Capital Group has an average rating of “Moderate Buy” and a consensus 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.