Summit Global Investments Has $8.70 Million Stock Holdings in Arch Capital Group Ltd. (NASDAQ:ACGL)

Summit Global Investments grew its stake in Arch Capital Group Ltd. (NASDAQ:ACGL) by 646.8% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 77,739 shares of the insurance provider’s stock after buying an additional 67,329 shares during the quarter. Summit Global Investments’ holdings in Arch Capital Group were worth $8,697,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Capital International Investors boosted its stake 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 worth $380,167,000 after buying an additional 1,560,173 shares during the last quarter. National Pension Service acquired a new stake in Arch Capital Group in the 3rd quarter valued at about $64,271,000. International Assets Investment Management LLC increased its holdings in shares of Arch Capital Group by 18,634.1% during the 3rd quarter. International Assets Investment Management LLC now owns 551,345 shares of the insurance provider’s stock worth $616,840,000 after acquiring an additional 548,402 shares during the last quarter. Brandes Investment Partners LP bought a new stake in Arch Capital Group in the 2nd quarter valued at $48,119,000. Finally, Natixis Advisors LLC lifted its holdings in Arch Capital Group by 59.1% during the 2nd quarter. Natixis Advisors LLC now owns 1,139,480 shares of the insurance provider’s stock valued at $114,962,000 after purchasing an additional 423,406 shares during the last quarter. Institutional investors own 89.07% of the company’s stock.

Insider Transactions at Arch Capital Group

In other news, CFO Francois Morin sold 11,460 shares of Arch Capital Group stock in a transaction on Friday, August 16th. The stock was sold at an average price of $102.46, for a total transaction of $1,174,191.60. Following the sale, the chief financial officer now directly owns 221,779 shares in the company, valued at $22,723,476.34. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 4.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on ACGL shares. StockNews.com cut Arch Capital Group from a “buy” rating to a “hold” rating in a report on Thursday, October 24th. Jefferies Financial Group increased their price target 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. Citigroup increased their target price on Arch Capital Group from $105.00 to $114.00 and gave the stock a “neutral” rating in a report on Tuesday, September 10th. Royal Bank of Canada dropped their price target on Arch Capital Group from $128.00 to $125.00 and set an “outperform” rating for the company in a research note on Friday, November 1st. Finally, Wells Fargo & Company dropped their target price on shares of Arch Capital Group from $126.00 to $118.00 and set an “overweight” rating for the company in a research report on Monday. Six equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $118.88.

Arch Capital Group Stock Performance

Shares of ACGL stock opened at $99.80 on Friday. Arch Capital Group Ltd. has a 12 month low of $72.85 and a 12 month high of $116.47. The firm has a market capitalization of $37.53 billion, a PE ratio of 6.70, a price-to-earnings-growth ratio of 1.36 and a beta of 0.61. The firm has a fifty day simple moving average of $109.41 and a two-hundred day simple moving average of $102.89. The company has a current ratio of 0.58, a quick ratio of 0.60 and a debt-to-equity ratio of 0.17.

Arch Capital Group (NASDAQ:ACGL) last announced its quarterly earnings results on Wednesday, October 30th. The insurance provider reported $1.99 earnings per share (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 the consensus estimate of $4.05 billion. Arch Capital Group had a return on equity of 18.94% and a net margin of 33.86%. During the same quarter in the prior year, the company posted $2.31 earnings per share. Analysts forecast that Arch Capital Group Ltd. will post 9.09 EPS 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 paid a $5.00 dividend.

About Arch Capital Group

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.