Verition Fund Management LLC Takes $9.15 Million Position in Arch Capital Group Ltd. (NASDAQ:ACGL)

Verition Fund Management LLC bought a new position in shares of Arch Capital Group Ltd. (NASDAQ:ACGL) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 81,811 shares of the insurance provider’s stock, valued at approximately $9,153,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Quantbot Technologies LP acquired a new stake in Arch Capital Group during the 3rd quarter worth approximately $25,000. UMB Bank n.a. acquired a new stake in shares of Arch Capital Group during the second quarter worth $30,000. Baldwin Brothers LLC MA grew its position in Arch Capital Group by 50.7% in the 2nd quarter. Baldwin Brothers LLC MA now owns 309 shares of the insurance provider’s stock valued at $31,000 after buying an additional 104 shares during the last quarter. Rothschild Investment LLC acquired a new position in Arch Capital Group in the 2nd quarter valued at $35,000. Finally, LRI Investments LLC purchased a new position in Arch Capital Group during the 1st quarter worth $38,000. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on ACGL. StockNews.com lowered shares of Arch Capital Group from a “buy” rating to a “hold” rating in a research note on Thursday, October 24th. TD Cowen boosted their target price on Arch Capital Group from $116.00 to $138.00 and gave the stock a “buy” rating in a research report on Friday, September 20th. Keefe, Bruyette & Woods raised their price target on Arch Capital Group from $120.00 to $121.00 and gave the company an “outperform” rating in a report on Wednesday, August 7th. Roth Mkm upped their price objective on Arch Capital Group from $110.00 to $125.00 and gave the stock a “buy” rating in a report on Friday, August 23rd. Finally, JMP Securities raised their target price on Arch Capital Group from $115.00 to $125.00 and gave the company a “market outperform” rating in a report on Tuesday, October 15th. Six investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $118.38.

Arch Capital Group Stock Down 0.0 %

ACGL stock opened at $100.72 on Friday. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.58 and a quick ratio of 0.58. The company’s 50 day simple moving average is $105.40 and its 200-day simple moving average is $103.37. Arch Capital Group Ltd. has a 12 month low of $72.85 and a 12 month high of $116.47. The firm has a market capitalization of $37.89 billion, a PE ratio of 6.76, a P/E/G ratio of 1.60 and a beta of 0.61.

Arch Capital Group (NASDAQ:ACGL) last announced its earnings results on Wednesday, October 30th. The insurance provider reported $1.99 EPS for the quarter, beating analysts’ consensus estimates of $1.94 by $0.05. The firm had revenue of $4.72 billion for the quarter, compared to analysts’ expectations 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 quarter in the prior year, the firm earned $2.31 EPS. Equities analysts expect that Arch Capital Group Ltd. will post 8.99 earnings per share for the current fiscal year.

Arch Capital Group Dividend Announcement

The business 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 dividend of $5.00 per share. The ex-dividend date is Monday, November 18th.

Arch Capital Group 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.