MetLife Investment Management LLC Sells 2,365 Shares of Arch Capital Group Ltd. (NASDAQ:ACGL)

MetLife Investment Management LLC trimmed its holdings in Arch Capital Group Ltd. (NASDAQ:ACGL) by 2.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 97,143 shares of the insurance provider’s stock after selling 2,365 shares during the period. MetLife Investment Management LLC’s holdings in Arch Capital Group were worth $10,868,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. National Pension Service bought a new stake in Arch Capital Group in the 3rd quarter valued at $64,271,000. International Assets Investment Management LLC boosted its position in shares of Arch Capital Group by 18,634.1% in the third quarter. International Assets Investment Management LLC now owns 551,345 shares of the insurance provider’s stock valued at $616,840,000 after acquiring an additional 548,402 shares during the period. Brandes Investment Partners LP bought a new stake in shares of Arch Capital Group in the second quarter valued at about $48,119,000. Natixis Advisors LLC grew its stake in shares of Arch Capital Group by 59.1% in the second quarter. Natixis Advisors LLC now owns 1,139,480 shares of the insurance provider’s stock valued at $114,962,000 after acquiring an additional 423,406 shares in the last quarter. Finally, Principal Financial Group Inc. increased its position in Arch Capital Group by 4.8% during the third quarter. Principal Financial Group Inc. now owns 7,438,738 shares of the insurance provider’s stock worth $832,246,000 after acquiring an additional 337,786 shares during the period. 89.07% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages recently issued reports on ACGL. Jefferies Financial Group boosted their price target on Arch Capital Group from $114.00 to $134.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. JMP Securities upped their price objective on shares of 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. Citigroup increased their target price on Arch Capital Group from $105.00 to $114.00 and gave the company a “neutral” rating in a research report on Tuesday, September 10th. Evercore ISI lifted their price target on shares of Arch Capital Group from $104.00 to $107.00 and gave the stock an “in-line” rating in a report on Wednesday, October 9th. Finally, Keefe, Bruyette & Woods upped their price target 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. Six research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $118.38.

Arch Capital Group Stock Up 0.3 %

ACGL stock opened at $100.74 on Friday. The stock’s 50 day moving average is $105.87 and its 200-day moving average is $103.37. Arch Capital Group Ltd. has a twelve month low of $72.85 and a twelve month high of $116.47. The firm has a market capitalization of $37.90 billion, a PE ratio of 6.76, a P/E/G ratio of 1.60 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 (NASDAQ:ACGL) last posted its 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. Arch Capital Group had a net margin of 33.86% and a return on equity of 18.94%. The firm had revenue of $4.72 billion during the quarter, compared to analyst estimates of $4.05 billion. During the same quarter in the prior year, the business posted $2.31 EPS. Sell-side analysts expect that Arch Capital Group Ltd. will post 8.99 EPS for the current fiscal year.

Arch Capital Group Dividend Announcement

The company also recently announced a special dividend, which will be paid on Wednesday, December 4th. Shareholders of record on Monday, November 18th will be given a dividend of $5.00 per share. The ex-dividend date of this dividend is Monday, November 18th.

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.