BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Sells 9,187 Shares of Arch Capital Group Ltd. (NASDAQ:ACGL)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp reduced its position in shares of Arch Capital Group Ltd. (NASDAQ:ACGL) by 12.8% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 62,658 shares of the insurance provider’s stock after selling 9,187 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Arch Capital Group were worth $7,010,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of ACGL. Quantbot Technologies LP bought a new position in Arch Capital Group during the 3rd quarter valued at approximately $25,000. UMB Bank n.a. bought a new position in shares of Arch Capital Group during the second quarter valued at approximately $30,000. Baldwin Brothers LLC MA lifted its stake in Arch Capital Group by 50.7% in the second quarter. Baldwin Brothers LLC MA now owns 309 shares of the insurance provider’s stock worth $31,000 after acquiring an additional 104 shares during the period. Rothschild Investment LLC purchased a new stake in Arch Capital Group in the second quarter worth $35,000. Finally, Versant Capital Management Inc boosted its holdings in Arch Capital Group by 40.3% in the second quarter. Versant Capital Management Inc now owns 456 shares of the insurance provider’s stock valued at $46,000 after acquiring an additional 131 shares in the last quarter. 89.07% of the stock is owned by institutional investors.

Arch Capital Group Price Performance

Shares of NASDAQ ACGL opened at $100.72 on Monday. The firm has a market cap of $37.90 billion, a P/E ratio of 6.76, a PEG ratio of 1.60 and a beta of 0.61. Arch Capital Group Ltd. has a twelve month low of $72.85 and a twelve month high of $116.47. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 0.17. The company has a 50 day moving average of $105.40 and a 200 day moving average of $103.41.

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, beating analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $4.05 billion. During the same period in the prior year, the company posted $2.31 earnings per share. As a group, research analysts expect that Arch Capital Group Ltd. will post 8.99 EPS for the current fiscal year.

Arch Capital Group Announces Dividend

The business also recently disclosed a special dividend, which will be paid on Wednesday, December 4th. Stockholders of record on Monday, November 18th will be issued a dividend of $5.00 per share. The ex-dividend date of this dividend is Monday, November 18th.

Wall Street Analysts Forecast Growth

ACGL has been the subject of several research analyst reports. Jefferies Financial Group raised their target price on shares of Arch Capital Group from $114.00 to $134.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. JMP Securities upped their target price on Arch Capital Group from $115.00 to $125.00 and gave the stock a “market outperform” rating in a report on Tuesday, October 15th. Barclays started coverage on Arch Capital Group in a research note on Wednesday, September 4th. They issued an “equal weight” rating and a $120.00 target price for the company. Bank of America reduced their price target on Arch Capital Group from $143.00 to $136.00 and set a “buy” rating on the stock in a research note on Friday, November 15th. Finally, Citigroup boosted their target price on shares of Arch Capital Group from $105.00 to $114.00 and gave the company a “neutral” rating in a report on Tuesday, September 10th. Six investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price 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.