Procyon Advisors LLC Acquires 1,403 Shares of Arch Capital Group Ltd. (NASDAQ:ACGL)

Procyon Advisors LLC raised its stake in Arch Capital Group Ltd. (NASDAQ:ACGL) by 15.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 10,667 shares of the insurance provider’s stock after buying an additional 1,403 shares during the quarter. Procyon Advisors LLC’s holdings in Arch Capital Group were worth $985,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in ACGL. Farther Finance Advisors LLC raised its stake in Arch Capital Group by 12.8% in the third quarter. Farther Finance Advisors LLC now owns 890 shares of the insurance provider’s stock valued at $100,000 after buying an additional 101 shares during the period. Fiduciary Financial Group LLC increased its holdings in shares of Arch Capital Group by 2.8% during the 3rd quarter. Fiduciary Financial Group LLC now owns 3,779 shares of the insurance provider’s stock worth $415,000 after acquiring an additional 103 shares during the last quarter. Fidelis Capital Partners LLC raised its stake in Arch Capital Group by 3.1% in the 2nd quarter. Fidelis Capital Partners LLC now owns 3,553 shares of the insurance provider’s stock valued at $344,000 after acquiring an additional 106 shares during the period. KG&L Capital Management LLC lifted its holdings in Arch Capital Group by 1.1% during the 3rd quarter. KG&L Capital Management LLC now owns 10,854 shares of the insurance provider’s stock valued at $1,214,000 after purchasing an additional 115 shares during the last quarter. Finally, Marks Group Wealth Management Inc boosted its position in Arch Capital Group by 4.2% during the third quarter. Marks Group Wealth Management Inc now owns 2,884 shares of the insurance provider’s stock worth $323,000 after purchasing an additional 115 shares during the period. Institutional investors and hedge funds own 89.07% of the company’s stock.

Arch Capital Group Price Performance

Shares of NASDAQ:ACGL opened at $95.51 on Friday. The firm has a 50 day moving average of $95.15 and a 200-day moving average of $101.54. Arch Capital Group Ltd. has a 12 month low of $77.53 and a 12 month 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 capitalization of $35.93 billion, a PE ratio of 6.41, a PEG ratio of 1.41 and a beta of 0.64.

Arch Capital Group (NASDAQ:ACGL) last released its earnings results on Wednesday, October 30th. The insurance provider reported $1.99 earnings per share 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 firm had revenue of $4.72 billion during the quarter, compared to analysts’ expectations of $4.05 billion. During the same period in the prior year, the company earned $2.31 earnings per share. On average, equities research analysts predict that Arch Capital Group Ltd. will post 8.85 EPS for the current fiscal year.

Arch Capital Group Announces Dividend

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

Analyst Ratings Changes

Several equities analysts have recently weighed in on ACGL shares. BMO Capital Markets increased their price objective on shares of Arch Capital Group from $98.00 to $104.00 and gave the company a “market perform” rating in a research report on Wednesday, November 6th. Bank of America cut their price objective on shares of Arch Capital Group from $143.00 to $136.00 and set a “buy” rating for the company in a research report on Friday, November 15th. Evercore ISI upped their target price on Arch Capital Group from $104.00 to $107.00 and gave the company an “in-line” rating in a research report on Wednesday, October 9th. JPMorgan Chase & Co. dropped their price target on Arch Capital Group from $110.00 to $106.00 and set a “neutral” rating for the company in a report on Friday, January 3rd. Finally, 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. Six analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, Arch Capital Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $118.00.

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.