BNP Paribas Financial Markets Cuts Stake in Arch Capital Group Ltd. (NASDAQ:ACGL)

BNP Paribas Financial Markets cut its holdings in shares of Arch Capital Group Ltd. (NASDAQ:ACGL) by 4.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 622,853 shares of the insurance provider’s stock after selling 26,897 shares during the period. BNP Paribas Financial Markets owned approximately 0.17% of Arch Capital Group worth $69,685,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of ACGL. National Pension Service purchased a new stake in shares of Arch Capital Group during the third quarter valued at $64,271,000. International Assets Investment Management LLC boosted its position in shares of Arch Capital Group by 18,634.1% during the third quarter. International Assets Investment Management LLC now owns 551,345 shares of the insurance provider’s stock valued at $616,840,000 after buying an additional 548,402 shares during the last quarter. Brandes Investment Partners LP purchased a new stake in shares of Arch Capital Group during the second quarter valued at $48,119,000. Natixis Advisors LLC boosted its position in shares of Arch Capital Group by 59.1% during the second quarter. Natixis Advisors LLC now owns 1,139,480 shares of the insurance provider’s stock valued at $114,962,000 after buying an additional 423,406 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its position in Arch Capital Group by 4.8% in the third quarter. Principal Financial Group Inc. now owns 7,438,738 shares of the insurance provider’s stock worth $832,246,000 after purchasing an additional 337,786 shares during the last quarter. 89.07% of the stock is owned by hedge funds and other institutional investors.

Arch Capital Group Stock Up 0.3 %

NASDAQ ACGL opened at $100.74 on Thursday. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 0.17. 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 is $106.11 and its 200 day moving average is $103.39. The stock has a market cap of $37.90 billion, a PE ratio of 6.76, a P/E/G ratio of 1.59 and a beta of 0.61.

Arch Capital Group (NASDAQ:ACGL) last released its earnings results on Wednesday, October 30th. The insurance provider reported $1.99 EPS for the quarter, topping the consensus estimate of $1.94 by $0.05. The firm had revenue of $4.72 billion for the quarter, compared to the consensus estimate 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 quarter in the previous year, the firm earned $2.31 earnings per share. Research analysts predict that Arch Capital Group Ltd. will post 8.99 EPS for the current fiscal year.

Arch Capital Group Announces Dividend

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

Wall Street Analyst Weigh In

Several brokerages have issued reports on ACGL. Royal Bank of Canada dropped their target price 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. Jefferies Financial Group raised their target price on Arch Capital Group from $114.00 to $134.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Roth Mkm raised their target price on Arch Capital Group from $110.00 to $125.00 and gave the stock a “buy” rating in a research report on Friday, August 23rd. Barclays began coverage on Arch Capital Group in a research report on Wednesday, September 4th. They issued an “equal weight” rating and a $120.00 target price on the stock. Finally, JPMorgan Chase & Co. raised their target price on Arch Capital Group from $108.00 to $110.00 and gave the stock a “neutral” rating in a research report on Thursday, October 10th. Six research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, Arch Capital Group currently has a consensus rating of “Moderate Buy” and an average price target of $118.38.

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.