Oppenheimer Asset Management Inc. Has $13.42 Million Stock Position in Arch Capital Group Ltd. (NASDAQ:ACGL)

Oppenheimer Asset Management Inc. lifted its stake in Arch Capital Group Ltd. (NASDAQ:ACGL) by 1.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 119,945 shares of the insurance provider’s stock after acquiring an additional 2,073 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Arch Capital Group were worth $13,419,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Farther Finance Advisors LLC lifted its position in Arch Capital Group by 12.8% in the third quarter. Farther Finance Advisors LLC now owns 890 shares of the insurance provider’s stock worth $100,000 after purchasing an additional 101 shares during the period. Fiduciary Financial Group LLC lifted its position in Arch Capital Group by 2.8% in the third quarter. Fiduciary Financial Group LLC now owns 3,779 shares of the insurance provider’s stock worth $415,000 after purchasing an additional 103 shares during the period. Baldwin Brothers LLC MA lifted its position 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 purchasing an additional 104 shares during the period. Fidelis Capital Partners LLC lifted its position in Arch Capital Group by 3.1% in the second quarter. Fidelis Capital Partners LLC now owns 3,553 shares of the insurance provider’s stock worth $344,000 after purchasing an additional 106 shares during the period. Finally, KG&L Capital Management LLC lifted its position in Arch Capital Group by 1.1% in the third quarter. KG&L Capital Management LLC now owns 10,854 shares of the insurance provider’s stock worth $1,214,000 after purchasing an additional 115 shares during the period. Institutional investors and hedge funds own 89.07% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. Wells Fargo & Company reduced their target price on Arch Capital Group from $126.00 to $118.00 and set an “overweight” rating for the company in a research report on Monday, November 4th. Citigroup raised their target price on Arch Capital Group from $105.00 to $114.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 10th. Keefe, Bruyette & Woods lifted their price objective on Arch Capital Group from $120.00 to $121.00 and gave the company an “outperform” rating in a report on Wednesday, August 7th. TD Cowen lifted their price objective on Arch Capital Group from $116.00 to $138.00 and gave the company a “buy” rating in a report on Friday, September 20th. Finally, StockNews.com cut Arch Capital Group from a “buy” rating to a “hold” rating in a report on Thursday, October 24th. Six equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $118.88.

Insider Buying and Selling

In related news, CFO Francois Morin sold 11,460 shares of Arch Capital Group stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $102.46, for a total value of $1,174,191.60. Following the completion of the sale, the chief financial officer now directly owns 221,779 shares in the company, valued at $22,723,476.34. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 4.20% of the company’s stock.

Arch Capital Group Price Performance

Shares of ACGL stock opened at $101.18 on Thursday. The stock has a 50-day moving average price of $108.45 and a 200 day moving average price of $103.19. 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 firm has a market cap of $38.07 billion, a price-to-earnings ratio of 6.79, a PEG ratio of 1.46 and a beta of 0.61. Arch Capital Group Ltd. has a 12 month low of $72.85 and a 12 month high of $116.47.

Arch Capital Group (NASDAQ:ACGL) last announced its quarterly earnings data on Wednesday, October 30th. The insurance provider reported $1.99 EPS for the quarter, topping analysts’ consensus estimates of $1.94 by $0.05. The firm had revenue of $4.72 billion during 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 last year, the company earned $2.31 earnings per share. Research analysts expect that Arch Capital Group Ltd. will post 9 EPS for the current year.

Arch Capital Group Announces Dividend

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

About Arch Capital Group

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.