Bank of Montreal Can Decreases Stock Position in Arch Capital Group Ltd. (NASDAQ:ACGL)

Bank of Montreal Can cut its holdings in Arch Capital Group Ltd. (NASDAQ:ACGL) by 26.1% in the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 359,129 shares of the insurance provider’s stock after selling 126,522 shares during the quarter. Bank of Montreal Can owned about 0.10% of Arch Capital Group worth $40,729,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Principal Financial Group Inc. raised its stake 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 valued at $832,246,000 after buying an additional 337,786 shares during the last quarter. Allspring Global Investments Holdings LLC raised its stake in shares of Arch Capital Group by 1.0% in 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 purchasing an additional 49,426 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Arch Capital Group by 6.6% in the second quarter. Dimensional Fund Advisors LP now owns 3,925,288 shares of the insurance provider’s stock worth $396,026,000 after purchasing an additional 244,285 shares during the last quarter. Legal & General Group Plc raised its stake 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 purchasing an additional 316,070 shares during the last quarter. Finally, Thrivent Financial for Lutherans raised its stake in shares of Arch Capital Group by 1.7% in the second quarter. Thrivent Financial for Lutherans now owns 1,882,387 shares of the insurance provider’s stock worth $189,914,000 after purchasing an additional 32,115 shares during the last quarter. 89.07% of the stock is currently owned by hedge funds and other institutional investors.

Arch Capital Group Stock Up 0.3 %

Shares of ACGL opened at $100.74 on Friday. 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 $105.87 and its two-hundred day moving average is $103.37. The firm has a market cap of $37.90 billion, a P/E ratio of 6.76, a PEG ratio of 1.59 and a beta of 0.61.

Arch Capital Group (NASDAQ:ACGL) last issued its quarterly 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 firm 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 posted $2.31 earnings per share. Analysts predict that Arch Capital Group Ltd. will post 8.99 earnings per share for the current fiscal year.

Arch Capital Group Dividend Announcement

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

Analyst Upgrades and Downgrades

ACGL has been the subject of several research analyst reports. StockNews.com cut Arch Capital Group from a “buy” rating to a “hold” rating in a research note on Thursday, October 24th. Barclays initiated coverage on Arch Capital Group in a research note on Wednesday, September 4th. They issued an “equal weight” rating and a $120.00 price objective for the company. BMO Capital Markets raised their price objective on Arch Capital Group from $98.00 to $104.00 and gave the stock a “market perform” rating in a research note on Wednesday, November 6th. 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 report on Wednesday, October 9th. Finally, TD Cowen raised their target price on Arch Capital Group from $116.00 to $138.00 and gave the stock a “buy” rating in a report on Friday, September 20th. Six research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, Arch Capital Group has a consensus rating of “Moderate Buy” and a consensus target price 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.