Alerus Financial NA Raises Stock Position in Arch Capital Group Ltd. (NASDAQ:ACGL)

Alerus Financial NA grew its holdings in Arch Capital Group Ltd. (NASDAQ:ACGL) by 0.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 30,436 shares of the insurance provider’s stock after acquiring an additional 161 shares during the period. Alerus Financial NA’s holdings in Arch Capital Group were worth $3,405,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the business. Erste Asset Management GmbH bought a new position in Arch Capital Group in the 3rd quarter worth approximately $82,748,000. Edgestream Partners L.P. lifted its holdings in shares of Arch Capital Group by 215.8% in the third quarter. Edgestream Partners L.P. now owns 33,712 shares of the insurance provider’s stock worth $3,772,000 after buying an additional 23,037 shares in the last quarter. Kolinsky Wealth Management LLC bought a new position in shares of Arch Capital Group during the third quarter worth $226,000. Verition Fund Management LLC purchased a new position in Arch Capital Group during the third quarter valued at $9,153,000. Finally, Rockefeller Capital Management L.P. increased its holdings in Arch Capital Group by 14.4% in the 3rd quarter. Rockefeller Capital Management L.P. now owns 304,076 shares of the insurance provider’s stock valued at $34,020,000 after acquiring an additional 38,353 shares during the last quarter. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Arch Capital Group Stock Performance

Shares of NASDAQ:ACGL opened at $100.72 on Friday. The firm’s 50-day moving average is $105.40 and its 200 day moving average is $103.37. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 0.17. The company has a market capitalization of $37.89 billion, a price-to-earnings ratio of 6.76, a PEG ratio of 1.60 and a beta of 0.61. 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 issued its quarterly earnings data on Wednesday, October 30th. The insurance provider reported $1.99 EPS for the quarter, topping 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 for the quarter, compared to analysts’ expectations of $4.05 billion. During the same quarter last year, the company earned $2.31 EPS. Research analysts predict that Arch Capital Group Ltd. will post 8.99 EPS for the current 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 $5.00 dividend. The ex-dividend date of this dividend is Monday, November 18th.

Analyst Ratings Changes

Several research analysts have commented on ACGL shares. Evercore ISI increased their price objective on shares of Arch Capital Group from $104.00 to $107.00 and gave the company an “in-line” rating in a report on Wednesday, October 9th. JMP Securities increased their price target on Arch Capital Group from $115.00 to $125.00 and gave the company a “market outperform” rating in a research note on Tuesday, October 15th. Barclays started coverage on Arch Capital Group in a research note on Wednesday, September 4th. They issued an “equal weight” rating and a $120.00 price objective on the stock. TD Cowen upped their price objective on Arch Capital Group from $116.00 to $138.00 and gave the stock a “buy” rating in a report on Friday, September 20th. Finally, Jefferies Financial Group raised their target price on shares of Arch Capital Group from $114.00 to $134.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Six research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, Arch Capital Group currently has a consensus rating of “Moderate Buy” and a consensus price target of $118.38.

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.