Meritage Portfolio Management Sells 37,822 Shares of Arch Capital Group Ltd. (NASDAQ:ACGL)

Meritage Portfolio Management reduced its stake in Arch Capital Group Ltd. (NASDAQ:ACGL) by 41.9% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 52,524 shares of the insurance provider’s stock after selling 37,822 shares during the quarter. Meritage Portfolio Management’s holdings in Arch Capital Group were worth $5,876,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in ACGL. Capital International Investors boosted its holdings in Arch Capital Group by 61.1% in the first quarter. Capital International Investors now owns 4,112,577 shares of the insurance provider’s stock worth $380,167,000 after acquiring an additional 1,560,173 shares in the last quarter. National Pension Service bought a new stake in Arch Capital Group during the 3rd quarter valued at about $64,271,000. International Assets Investment Management LLC lifted its stake in shares of Arch Capital Group by 18,634.1% in the third quarter. International Assets Investment Management LLC now owns 551,345 shares of the insurance provider’s stock worth $616,840,000 after buying an additional 548,402 shares in the last quarter. Brandes Investment Partners LP purchased a new stake in shares of Arch Capital Group during the second quarter valued at approximately $48,119,000. Finally, Natixis Advisors LLC increased its position in shares of Arch Capital Group by 59.1% during the second quarter. Natixis Advisors LLC now owns 1,139,480 shares of the insurance provider’s stock valued at $114,962,000 after acquiring an additional 423,406 shares in the last quarter. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Evercore ISI upped their price objective on Arch Capital Group from $104.00 to $107.00 and gave the company an “in-line” rating in a research report on Wednesday, October 9th. JMP Securities lifted their price objective on Arch Capital Group from $115.00 to $125.00 and gave the stock a “market outperform” rating in a report on Tuesday, October 15th. StockNews.com lowered shares of Arch Capital Group from a “buy” rating to a “hold” rating in a research note on Thursday, October 24th. Royal Bank of Canada lowered their price objective on shares of Arch Capital Group from $128.00 to $125.00 and set an “outperform” rating on the stock in a research report on Friday, November 1st. Finally, TD Cowen boosted 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 note on Friday, September 20th. Six investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $118.88.

Arch Capital Group Price Performance

Shares of NASDAQ:ACGL traded up $2.05 during trading on Friday, hitting $101.85. 1,887,176 shares of the company’s stock were exchanged, compared to its average volume of 1,664,083. The business’s 50-day simple moving average is $109.19 and its 200 day simple moving average is $103.01. The company has a market cap of $38.30 billion, a price-to-earnings ratio of 6.84, 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 company has a debt-to-equity ratio of 0.17, a current ratio of 0.58 and a quick ratio of 0.60.

Arch Capital Group (NASDAQ:ACGL) last announced its quarterly earnings data on Wednesday, October 30th. The insurance provider reported $1.99 earnings per share (EPS) for the quarter, beating 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 business had revenue of $4.72 billion during the quarter, compared to analyst estimates of $4.05 billion. During the same period last year, the firm posted $2.31 EPS. As a group, equities analysts predict that Arch Capital Group Ltd. will post 9 EPS for the current year.

Arch Capital Group Dividend Announcement

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.

Insider Buying and Selling at Arch Capital Group

In other news, CFO Francois Morin sold 11,460 shares of Arch Capital Group stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $102.46, for a total value of $1,174,191.60. Following the sale, the chief financial officer now directly owns 221,779 shares of the company’s stock, valued at approximately $22,723,476.34. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 4.20% of the company’s stock.

Arch Capital Group Company 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.