Chevy Chase Trust Holdings LLC Sells 3,373 Shares of Arch Capital Group Ltd. (NASDAQ:ACGL)

Chevy Chase Trust Holdings LLC lessened its stake in Arch Capital Group Ltd. (NASDAQ:ACGL) by 1.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 203,051 shares of the insurance provider’s stock after selling 3,373 shares during the period. Chevy Chase Trust Holdings LLC owned approximately 0.05% of Arch Capital Group worth $22,717,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in ACGL. Quantbot Technologies LP bought a new stake in shares of Arch Capital Group in the third quarter worth $25,000. UMB Bank n.a. purchased a new stake in shares of Arch Capital Group during the 2nd quarter valued at about $30,000. Baldwin Brothers LLC MA lifted its stake in shares of Arch Capital Group by 50.7% in the 2nd quarter. Baldwin Brothers LLC MA now owns 309 shares of the insurance provider’s stock worth $31,000 after purchasing an additional 104 shares during the period. Rothschild Investment LLC purchased a new position in shares of Arch Capital Group in the second quarter worth approximately $35,000. Finally, Compagnie Lombard Odier SCmA bought a new stake in Arch Capital Group during the third quarter valued at approximately $46,000. 89.07% of the stock is currently owned by hedge funds and other institutional investors.

Arch Capital Group Trading Up 0.2 %

Shares of ACGL stock opened at $99.53 on Wednesday. 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 stock has a market capitalization of $37.45 billion, a price-to-earnings ratio of 6.68, a price-to-earnings-growth ratio of 1.58 and a beta of 0.62. Arch Capital Group Ltd. has a 12-month low of $72.85 and a 12-month high of $116.47. The stock’s 50-day moving average price is $105.11 and its 200-day moving average price is $103.45.

Arch Capital Group (NASDAQ:ACGL) last issued its quarterly earnings data 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 return on equity of 18.94% and a net margin of 33.86%. The business had revenue of $4.72 billion for the quarter, compared to analysts’ expectations of $4.05 billion. During the same period in the prior year, the firm earned $2.31 EPS. Equities research analysts predict that Arch Capital Group Ltd. will post 8.99 EPS for the current fiscal year.

Arch Capital Group Announces Dividend

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

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. 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 research note on Wednesday, October 9th. Wells Fargo & Company cut their price target on Arch Capital Group from $118.00 to $109.00 and set an “overweight” rating for the company in a report on Tuesday, November 19th. JPMorgan Chase & Co. lifted their price objective on Arch Capital Group from $108.00 to $110.00 and gave the company a “neutral” rating in a research report on Thursday, October 10th. TD Cowen boosted their price objective on Arch Capital Group from $116.00 to $138.00 and gave the company a “buy” rating in a research note on Friday, September 20th. Finally, Roth Mkm raised their target price on shares of Arch Capital Group from $110.00 to $125.00 and gave the stock a “buy” rating in a research note on Friday, August 23rd. Six investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $118.38.

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.