Meritage Portfolio Management Sells 982 Shares of Arch Capital Group Ltd. (NASDAQ:ACGL)

Meritage Portfolio Management lessened its holdings in shares of Arch Capital Group Ltd. (NASDAQ:ACGL) by 1.9% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 51,542 shares of the insurance provider’s stock after selling 982 shares during the quarter. Meritage Portfolio Management’s holdings in Arch Capital Group were worth $4,760,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Cetera Investment Advisers grew its stake in Arch Capital Group by 18.4% in the 2nd quarter. Cetera Investment Advisers now owns 49,193 shares of the insurance provider’s stock valued at $4,963,000 after buying an additional 7,652 shares in the last quarter. Handelsbanken Fonder AB grew its position in shares of Arch Capital Group by 6.8% in the third quarter. Handelsbanken Fonder AB now owns 97,049 shares of the insurance provider’s stock valued at $10,858,000 after purchasing an additional 6,201 shares in the last quarter. Czech National Bank raised its stake in shares of Arch Capital Group by 7.1% during the 3rd quarter. Czech National Bank now owns 76,296 shares of the insurance provider’s stock valued at $8,536,000 after purchasing an additional 5,033 shares during the period. GAMMA Investing LLC lifted its holdings in Arch Capital Group by 28.1% during the 3rd quarter. GAMMA Investing LLC now owns 8,347 shares of the insurance provider’s stock worth $934,000 after purchasing an additional 1,829 shares in the last quarter. Finally, Fulton Bank N.A. purchased a new stake in shares of Arch Capital Group in the third quarter worth about $207,000. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Arch Capital Group Stock Performance

Arch Capital Group stock opened at $92.77 on Wednesday. The firm has a fifty day simple moving average of $93.88 and a two-hundred day simple moving average of $101.29. Arch Capital Group Ltd. has a twelve month low of $80.97 and a twelve month high of $116.47. The company has a market capitalization of $34.90 billion, a PE ratio of 6.23, a P/E/G ratio of 1.52 and a beta of 0.64. 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 Announces Dividend

The business also recently announced a special dividend, which was paid on Wednesday, December 4th. Investors of record on Monday, November 18th were issued a dividend of $5.00 per share. The ex-dividend date was Monday, November 18th.

Analyst Ratings Changes

ACGL has been the topic of a number of analyst reports. Wells Fargo & Company decreased their target price on shares of Arch Capital Group from $109.00 to $107.00 and set an “overweight” rating on the stock in a report on Tuesday, January 14th. Bank of America decreased their price target on shares of Arch Capital Group from $143.00 to $136.00 and set a “buy” rating on the stock in a report on Friday, November 15th. JMP Securities boosted their target price on Arch Capital Group from $115.00 to $125.00 and gave the stock a “market outperform” rating in a research report on Tuesday, October 15th. Keefe, Bruyette & Woods lowered their price target on Arch Capital Group from $121.00 to $120.00 and set an “outperform” rating on the stock in a report on Friday, January 10th. Finally, Royal Bank of Canada cut their price objective on Arch Capital Group from $128.00 to $125.00 and set an “outperform” rating for the company in a report on Friday, November 1st. Six analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, Arch Capital Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $118.00.

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.