Bank of Montreal Can Trims Holdings in Arch Capital Group Ltd. (NASDAQ:ACGL)

Bank of Montreal Can decreased its stake in shares of Arch Capital Group Ltd. (NASDAQ:ACGL) by 26.1% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 359,129 shares of the insurance provider’s stock after selling 126,522 shares during the quarter. Bank of Montreal Can’s holdings in Arch Capital Group were worth $40,729,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Sequoia Financial Advisors LLC lifted its position in Arch Capital Group by 2.6% during the second quarter. Sequoia Financial Advisors LLC now owns 20,871 shares of the insurance provider’s stock worth $2,106,000 after buying an additional 519 shares in the last quarter. Cetera Advisors LLC lifted its position in Arch Capital Group by 70.9% during the first quarter. Cetera Advisors LLC now owns 13,700 shares of the insurance provider’s stock worth $1,266,000 after buying an additional 5,684 shares in the last quarter. Swedbank AB purchased a new position in Arch Capital Group during the first quarter worth approximately $25,060,000. Banque Cantonale Vaudoise lifted its position in Arch Capital Group by 172.2% during the third quarter. Banque Cantonale Vaudoise now owns 55,423 shares of the insurance provider’s stock worth $6,201,000 after buying an additional 35,060 shares in the last quarter. Finally, PNC Financial Services Group Inc. lifted its position in Arch Capital Group by 10.0% during the third quarter. PNC Financial Services Group Inc. now owns 71,721 shares of the insurance provider’s stock worth $8,024,000 after buying an additional 6,521 shares in the last quarter. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on ACGL shares. Jefferies Financial Group lifted their price objective on Arch Capital Group from $114.00 to $134.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Keefe, Bruyette & Woods lifted their target price on Arch Capital Group from $120.00 to $121.00 and gave the company an “outperform” rating in a research report on Wednesday, August 7th. TD Cowen lifted their target price on Arch Capital Group from $116.00 to $138.00 and gave the company a “buy” rating in a research report on Friday, September 20th. Evercore ISI lifted their target price 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. Finally, StockNews.com downgraded Arch Capital Group from a “buy” rating to a “hold” rating in a research report on Thursday, October 24th. Six analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $118.38.

Arch Capital Group Trading Up 0.3 %

ACGL opened at $100.74 on Friday. Arch Capital Group Ltd. has a 12 month low of $72.85 and a 12 month high of $116.47. The stock has a market capitalization of $37.90 billion, a price-to-earnings ratio of 6.76, a PEG ratio of 1.59 and a beta of 0.61. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.58 and a quick ratio of 0.58. The business has a fifty day moving average price of $105.87 and a 200 day moving average price of $103.37.

Arch Capital Group (NASDAQ:ACGL) last released its earnings results on Wednesday, October 30th. The insurance provider reported $1.99 EPS for the quarter, topping the consensus estimate of $1.94 by $0.05. Arch Capital Group had a return on equity of 18.94% and a net margin of 33.86%. The firm had revenue of $4.72 billion during the quarter, compared to analysts’ expectations of $4.05 billion. During the same period in the previous year, the firm posted $2.31 EPS. Sell-side analysts expect that Arch Capital Group Ltd. will post 8.99 earnings per share for the current fiscal year.

Arch Capital Group Announces Dividend

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 paid a dividend of $5.00 per share. The ex-dividend date of this dividend is Monday, November 18th.

Arch Capital Group 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.