Moran Wealth Management LLC Reduces Holdings in Arch Capital Group Ltd. (NASDAQ:ACGL)

Moran Wealth Management LLC cut its position in shares of Arch Capital Group Ltd. (NASDAQ:ACGL) by 4.0% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 34,384 shares of the insurance provider’s stock after selling 1,422 shares during the quarter. Moran Wealth Management LLC’s holdings in Arch Capital Group were worth $3,847,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Principal Financial Group Inc. grew its holdings in shares of 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 buying an additional 337,786 shares in the last quarter. Allspring Global Investments Holdings LLC grew its holdings in shares of Arch Capital Group by 1.0% during the third quarter. Allspring Global Investments Holdings LLC now owns 5,124,251 shares of the insurance provider’s stock worth $573,301,000 after buying an additional 49,426 shares in the last quarter. Capital International Investors grew its holdings in shares of Arch Capital Group by 61.1% during the first 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 in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Arch Capital Group by 6.6% during the second quarter. Dimensional Fund Advisors LP now owns 3,925,288 shares of the insurance provider’s stock worth $396,026,000 after buying an additional 244,285 shares in the last quarter. Finally, Legal & General Group Plc boosted its position in shares of Arch Capital Group by 10.1% in the second quarter. Legal & General Group Plc now owns 3,455,949 shares of the insurance provider’s stock worth $348,671,000 after acquiring an additional 316,070 shares during the last quarter. 89.07% of the stock is currently owned by hedge funds and other institutional investors.

Arch Capital Group Trading Up 0.0 %

NASDAQ ACGL opened at $95.71 on Thursday. The company’s fifty day simple moving average is $107.15 and its 200-day simple moving average is $103.33. Arch Capital Group Ltd. has a 52 week low of $72.85 and a 52 week high of $116.47. 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 cap of $36.01 billion, a P/E ratio of 6.42, a PEG ratio of 1.52 and a beta of 0.61.

Arch Capital Group (NASDAQ:ACGL) last posted its earnings results on Wednesday, October 30th. The insurance provider reported $1.99 EPS for the quarter, topping analysts’ consensus estimates of $1.94 by $0.05. The business had revenue of $4.72 billion for the quarter, compared to analysts’ expectations of $4.05 billion. Arch Capital Group had a net margin of 33.86% and a return on equity of 18.94%. During the same period in the previous year, the company posted $2.31 earnings per share. Equities research analysts predict that Arch Capital Group Ltd. will post 9.01 EPS for the current fiscal year.

Arch Capital Group Dividend Announcement

The business also recently declared a special dividend, which will be paid on Wednesday, December 4th. Investors of record on Monday, November 18th will be paid a $5.00 dividend. The ex-dividend date is Monday, November 18th.

Wall Street Analyst Weigh In

Several research firms recently issued reports on ACGL. 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 report on Friday, August 23rd. Evercore ISI raised their target price on shares of Arch Capital Group from $104.00 to $107.00 and gave the stock an “in-line” rating in a research report on Wednesday, October 9th. BMO Capital Markets raised their target price on shares of Arch Capital Group from $98.00 to $104.00 and gave the stock a “market perform” rating in a research report on Wednesday, November 6th. Keefe, Bruyette & Woods raised their target price on shares of Arch Capital Group from $120.00 to $121.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 7th. Finally, JMP Securities raised their target price 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. Six research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, Arch Capital Group presently has an average 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.