Martingale Asset Management L P Has $13.55 Million Holdings in Arch Capital Group Ltd. (NASDAQ:ACGL)

Martingale Asset Management L P lessened its holdings in Arch Capital Group Ltd. (NASDAQ:ACGL) by 18.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 121,063 shares of the insurance provider’s stock after selling 27,456 shares during the period. Martingale Asset Management L P’s holdings in Arch Capital Group were worth $13,545,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Sequoia Financial Advisors LLC raised its holdings in shares of Arch Capital Group by 2.6% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 20,871 shares of the insurance provider’s stock worth $2,106,000 after acquiring an additional 519 shares during the last quarter. Cetera Advisors LLC grew its position in Arch Capital Group by 70.9% in the 1st quarter. Cetera Advisors LLC now owns 13,700 shares of the insurance provider’s stock worth $1,266,000 after purchasing an additional 5,684 shares in the last quarter. Swedbank AB bought a new stake in Arch Capital Group in the 1st quarter worth about $25,060,000. Banque Cantonale Vaudoise grew its position in Arch Capital Group by 172.2% in the 3rd quarter. Banque Cantonale Vaudoise now owns 55,423 shares of the insurance provider’s stock worth $6,201,000 after purchasing an additional 35,060 shares in the last quarter. Finally, PNC Financial Services Group Inc. grew its position in Arch Capital Group by 10.0% in the 3rd quarter. PNC Financial Services Group Inc. now owns 71,721 shares of the insurance provider’s stock worth $8,024,000 after purchasing an additional 6,521 shares in the last quarter. Institutional investors and hedge funds own 89.07% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on ACGL. TD Cowen upped their price objective on shares of Arch Capital Group from $116.00 to $138.00 and gave the stock a “buy” rating in a research report on Friday, September 20th. StockNews.com downgraded shares of Arch Capital Group from a “buy” rating to a “hold” rating in a research report on Thursday, October 24th. JPMorgan Chase & Co. upped their price objective on shares of Arch Capital Group from $108.00 to $110.00 and gave the stock a “neutral” rating in a research report on Thursday, October 10th. Barclays assumed coverage on shares of Arch Capital Group in a research report on Wednesday, September 4th. They set an “equal weight” rating and a $120.00 target price for the company. Finally, Citigroup increased their target price on shares of Arch Capital Group from $105.00 to $114.00 and gave the company a “neutral” rating in a research report on Tuesday, September 10th. 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 a consensus rating of “Moderate Buy” and a consensus target price of $118.38.

Arch Capital Group Price Performance

ACGL stock opened at $100.74 on Friday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.58 and a current ratio of 0.58. Arch Capital Group Ltd. has a 52 week low of $72.85 and a 52 week high of $116.47. The firm’s fifty day moving average is $105.87 and its 200 day moving average is $103.37. The firm has a market cap of $37.90 billion, a P/E ratio of 6.76, a P/E/G ratio of 1.60 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, beating the consensus estimate of $1.94 by $0.05. Arch Capital Group had a net margin of 33.86% and a return on equity of 18.94%. The company had revenue of $4.72 billion for the quarter, compared to analyst estimates of $4.05 billion. During the same quarter last year, the firm earned $2.31 EPS. Research analysts predict that Arch Capital Group Ltd. will post 8.99 earnings per share for the current year.

Arch Capital Group Dividend Announcement

The firm also recently announced a special dividend, which will be paid on Wednesday, December 4th. Investors of record on Monday, November 18th will be issued a dividend of $5.00 per share. The ex-dividend date 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.