Lord Abbett & CO. LLC Sells 21,778 Shares of Arch Capital Group Ltd. (NASDAQ:ACGL)

Lord Abbett & CO. LLC reduced its holdings in Arch Capital Group Ltd. (NASDAQ:ACGL) by 2.9% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 729,654 shares of the insurance provider’s stock after selling 21,778 shares during the period. Lord Abbett & CO. LLC’s holdings in Arch Capital Group were worth $81,634,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the stock. Quantbot Technologies LP bought a new position in shares of Arch Capital Group during the third quarter worth $25,000. UMB Bank n.a. acquired a new position in shares of Arch Capital Group during the second quarter worth about $30,000. Rothschild Investment LLC bought a new position in shares of Arch Capital Group during the second quarter worth about $35,000. Compagnie Lombard Odier SCmA acquired a new stake in Arch Capital Group in the 3rd quarter valued at approximately $46,000. Finally, Asset Dedication LLC lifted its stake in Arch Capital Group by 188.1% in the 3rd quarter. Asset Dedication LLC now owns 435 shares of the insurance provider’s stock valued at $49,000 after acquiring an additional 284 shares in the last quarter. Institutional investors and hedge funds own 89.07% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Royal Bank of Canada decreased their price target on shares of Arch Capital Group from $128.00 to $125.00 and set an “outperform” rating for the company in a research note on Friday, November 1st. Jefferies Financial Group raised their target price on shares of Arch Capital Group from $114.00 to $134.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Roth Mkm boosted their price target on shares of Arch Capital Group from $110.00 to $125.00 and gave the stock a “buy” rating in a research report on Friday, August 23rd. Wells Fargo & Company decreased their price objective on Arch Capital Group from $118.00 to $109.00 and set an “overweight” rating for the company in a report on Tuesday, November 19th. Finally, BMO Capital Markets upped their target price on Arch Capital Group from $98.00 to $104.00 and gave the stock a “market perform” rating in a report on Wednesday, November 6th. Six analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $118.38.

Arch Capital Group Price Performance

Shares of Arch Capital Group stock opened at $93.42 on Friday. 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 stock has a market capitalization of $35.15 billion, a price-to-earnings ratio of 6.27, a price-to-earnings-growth ratio of 1.50 and a beta of 0.62. Arch Capital Group Ltd. has a twelve month low of $72.85 and a twelve month high of $116.47. The company has a 50-day simple moving average of $102.03 and a two-hundred day simple moving average of $103.06.

Arch Capital Group (NASDAQ:ACGL) last released its quarterly earnings results on Wednesday, October 30th. The insurance provider reported $1.99 earnings per share for the quarter, beating analysts’ consensus estimates of $1.94 by $0.05. The company had revenue of $4.72 billion during 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 period in the previous year, the business earned $2.31 earnings per share. Analysts forecast that Arch Capital Group Ltd. will post 8.99 EPS for the current year.

Arch Capital Group Dividend Announcement

The business also recently announced a special dividend, which was paid on Wednesday, December 4th. Stockholders of record on Monday, November 18th were issued a dividend of $5.00 per share. The ex-dividend date was Monday, November 18th.

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.