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

Kentucky Retirement Systems Insurance Trust Fund lessened its holdings in Arch Capital Group Ltd. (NASDAQ:ACGL) by 8.1% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm 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 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Principal Financial Group Inc. boosted its stake in shares of Arch Capital Group by 4.8% in the third quarter. Principal Financial Group Inc. now owns 7,438,738 shares of the insurance provider’s stock valued at $832,246,000 after buying an additional 337,786 shares in the last quarter. Allspring Global Investments Holdings LLC increased its position in Arch Capital Group by 1.0% during the third quarter. Allspring Global Investments Holdings LLC now owns 5,124,251 shares of the insurance provider’s stock worth $573,301,000 after buying an additional 49,426 shares in the last quarter. Capital International Investors lifted its holdings in Arch Capital Group by 61.1% in the 1st quarter. Capital International Investors now owns 4,112,577 shares of the insurance provider’s stock valued at $380,167,000 after purchasing an additional 1,560,173 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in 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 acquiring an additional 244,285 shares during the last quarter. Finally, Legal & General Group Plc grew its position in shares of Arch Capital Group by 10.1% in the second quarter. Legal & General Group Plc now owns 3,455,949 shares of the insurance provider’s stock valued at $348,671,000 after purchasing an additional 316,070 shares during the period. 89.07% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the stock. Keefe, Bruyette & Woods increased their target price 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. JPMorgan Chase & Co. upped their target price on Arch Capital Group from $108.00 to $110.00 and gave the company a “neutral” rating in a research report on Thursday, October 10th. Wells Fargo & Company lowered 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. Bank of America lowered their price objective on shares of Arch Capital Group from $143.00 to $136.00 and set a “buy” rating for the company in a research report on Friday. Finally, StockNews.com cut Arch Capital Group from a “buy” rating to a “hold” rating in a research note on Thursday, October 24th. Six investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, Arch Capital Group currently has a consensus rating of “Moderate Buy” and an average target price of $118.94.

Arch Capital Group Stock Performance

Arch Capital Group stock opened at $101.83 on Monday. The business’s 50-day moving average price is $108.03 and its two-hundred day moving average price is $103.36. The stock has a market cap of $38.31 billion, a PE ratio of 6.83, a P/E/G ratio of 1.47 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 posted its quarterly earnings data 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 net margin of 33.86% and a return on equity of 18.94%. The company had revenue of $4.72 billion during the quarter, compared to analysts’ expectations of $4.05 billion. During the same period in the prior year, the company posted $2.31 earnings per share. As a group, analysts expect that Arch Capital Group Ltd. will post 9.01 earnings per share for the current fiscal year.

Arch Capital Group Dividend Announcement

The company 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.

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.