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

Meritage Portfolio Management trimmed its position in Arch Capital Group Ltd. (NASDAQ:ACGL) by 41.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and 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 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in Arch Capital Group by 0.3% in the 1st quarter. Vanguard Group Inc. now owns 40,858,890 shares of the insurance provider’s stock valued at $3,776,996,000 after purchasing an additional 104,008 shares during the period. Principal Financial Group Inc. increased its stake in Arch Capital Group by 4.8% in the 3rd quarter. Principal Financial Group Inc. now owns 7,438,738 shares of the insurance provider’s stock worth $832,246,000 after acquiring an additional 337,786 shares during the last quarter. Allspring Global Investments Holdings LLC raised its holdings in shares of Arch Capital Group by 1.0% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 5,124,251 shares of the insurance provider’s stock valued at $573,301,000 after acquiring an additional 49,426 shares in the last quarter. Capital International Investors boosted its position in shares of Arch Capital Group by 61.1% during the 1st quarter. Capital International Investors now owns 4,112,577 shares of the insurance provider’s stock valued at $380,167,000 after acquiring an additional 1,560,173 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in shares of Arch Capital Group by 6.6% during the second quarter. Dimensional Fund Advisors LP now owns 3,925,288 shares of the insurance provider’s stock worth $396,026,000 after purchasing an additional 244,285 shares in the last quarter. 89.07% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, CFO Francois Morin sold 11,460 shares of the firm’s stock in a transaction that occurred on 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 completion of the transaction, the chief financial officer now owns 221,779 shares in the company, valued at $22,723,476.34. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 4.20% of the company’s stock.

Analyst Ratings Changes

ACGL has been the subject of several research analyst reports. Roth Mkm lifted their target price on shares of Arch Capital Group from $110.00 to $125.00 and gave the company a “buy” rating in a research report on Friday, August 23rd. Royal Bank of Canada dropped their price objective on shares of Arch Capital Group from $128.00 to $125.00 and set an “outperform” rating for the company in a report on Friday, November 1st. JPMorgan Chase & Co. increased their target price on Arch Capital Group from $108.00 to $110.00 and gave the company a “neutral” rating in a research note on Thursday, October 10th. StockNews.com lowered Arch Capital Group from a “buy” rating to a “hold” rating in a research note on Thursday, October 24th. Finally, Wells Fargo & Company cut their price objective on Arch Capital Group from $126.00 to $118.00 and set an “overweight” rating for the company in a report on Monday, November 4th. Six analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $118.88.

Arch Capital Group Trading Up 2.1 %

ACGL traded up $2.05 during midday trading on Friday, reaching $101.85. 1,887,176 shares of the company’s stock traded hands, compared to its average volume of 1,664,083. 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. The firm has a fifty day moving average of $109.19 and a two-hundred day moving average of $103.01. The stock has a market capitalization of $38.30 billion, a price-to-earnings ratio of 6.84, a P/E/G ratio of 1.47 and a beta of 0.61.

Arch Capital Group (NASDAQ:ACGL) last issued its quarterly earnings data on Wednesday, October 30th. The insurance provider reported $1.99 EPS for the quarter, topping the consensus estimate of $1.94 by $0.05. The business had revenue of $4.72 billion during 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 period in the prior year, the business earned $2.31 EPS. On average, equities analysts anticipate that Arch Capital Group Ltd. will post 9 earnings per share for the current fiscal year.

Arch Capital Group Announces Dividend

The company also recently disclosed a special dividend, which will be paid on Wednesday, December 4th. Shareholders of record on Monday, November 18th will be given a dividend of $5.00 per share.

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.