Contravisory Investment Management Inc. Boosts Stake in Arch Capital Group Ltd. (NASDAQ:ACGL)

Contravisory Investment Management Inc. increased its holdings in shares of Arch Capital Group Ltd. (NASDAQ:ACGL) by 12.0% during the fourth quarter, HoldingsChannel reports. The fund owned 7,282 shares of the insurance provider’s stock after buying an additional 778 shares during the period. Contravisory Investment Management Inc.’s holdings in Arch Capital Group were worth $672,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Quantbot Technologies LP acquired a new position in Arch Capital Group during the third quarter worth $25,000. Compagnie Lombard Odier SCmA purchased a new position in Arch Capital Group during the 3rd quarter valued at about $46,000. UMB Bank n.a. raised its position in Arch Capital Group by 41.9% during the third quarter. UMB Bank n.a. now owns 427 shares of the insurance provider’s stock worth $48,000 after acquiring an additional 126 shares during the last quarter. Asset Dedication LLC lifted its holdings in shares of Arch Capital Group by 188.1% in the third quarter. Asset Dedication LLC now owns 435 shares of the insurance provider’s stock valued at $49,000 after purchasing an additional 284 shares in the last quarter. Finally, Ashton Thomas Securities LLC acquired a new stake in shares of Arch Capital Group in the third quarter valued at approximately $50,000. 89.07% of the stock is currently owned by hedge funds and other institutional investors.

Arch Capital Group Stock Up 1.8 %

NASDAQ ACGL opened at $93.62 on Thursday. The business has a 50 day moving average price of $95.51 and a two-hundred day moving average price of $101.67. The stock has a market cap of $35.22 billion, a PE ratio of 6.28, a P/E/G ratio of 1.41 and a beta of 0.64. Arch Capital Group Ltd. has a fifty-two week low of $77.53 and a fifty-two week 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.

Arch Capital Group (NASDAQ:ACGL) last announced its earnings results on Wednesday, October 30th. The insurance provider reported $1.99 earnings per share (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 analyst estimates of $4.05 billion. Arch Capital Group had a return on equity of 18.94% and a net margin of 33.86%. During the same period in the previous year, the company earned $2.31 earnings per share. As a group, sell-side 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 announced a special dividend, which was paid on Wednesday, December 4th. Stockholders of record on Monday, November 18th were paid a dividend of $5.00 per share. The ex-dividend date was Monday, November 18th.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on ACGL shares. JMP Securities upped their target price on Arch Capital Group from $115.00 to $125.00 and gave the company a “market outperform” rating in a research note on Tuesday, October 15th. Royal Bank of Canada reduced their price objective on Arch Capital Group from $128.00 to $125.00 and set an “outperform” rating on the stock in a research report on Friday, November 1st. Barclays dropped their price objective on Arch Capital Group from $120.00 to $100.00 and set an “equal weight” rating for the company in a research report on Monday, January 6th. BMO Capital Markets upped their target price on shares of Arch Capital Group from $98.00 to $104.00 and gave the company a “market perform” rating in a report on Wednesday, November 6th. Finally, JPMorgan Chase & Co. cut their price objective on shares of Arch Capital Group from $110.00 to $106.00 and set a “neutral” rating for the company in a research report on Friday, January 3rd. Six investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $118.00.

Arch Capital Group Company 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.