JPMorgan Chase & Co. Sells 243,467 Shares of Arch Capital Group Ltd. (NASDAQ:ACGL)

JPMorgan Chase & Co. lessened its stake in Arch Capital Group Ltd. (NASDAQ:ACGL) by 3.9% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 5,966,782 shares of the insurance provider’s stock after selling 243,467 shares during the period. JPMorgan Chase & Co.’s holdings in Arch Capital Group were worth $667,564,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the company. Farther Finance Advisors LLC raised its position in shares of Arch Capital Group by 12.8% during the third quarter. Farther Finance Advisors LLC now owns 890 shares of the insurance provider’s stock worth $100,000 after acquiring an additional 101 shares during the last quarter. Fiduciary Financial Group LLC raised its holdings in Arch Capital Group by 2.8% during the 3rd 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 last quarter. Fidelis Capital Partners LLC boosted its stake in shares of Arch Capital Group by 3.1% in the 2nd quarter. Fidelis Capital Partners LLC now owns 3,553 shares of the insurance provider’s stock valued at $344,000 after purchasing an additional 106 shares during the last quarter. KG&L Capital Management LLC grew its position in shares of Arch Capital Group by 1.1% during the 3rd quarter. KG&L Capital Management LLC now owns 10,854 shares of the insurance provider’s stock worth $1,214,000 after buying an additional 115 shares during the period. Finally, Marks Group Wealth Management Inc raised its stake in shares of Arch Capital Group by 4.2% during the third quarter. Marks Group Wealth Management Inc now owns 2,884 shares of the insurance provider’s stock worth $323,000 after buying an additional 115 shares during the last quarter. Institutional investors and hedge funds own 89.07% of the company’s stock.

Arch Capital Group Price Performance

Shares of NASDAQ ACGL opened at $92.34 on Friday. The company has a fifty day moving average price of $98.25 and a 200 day moving average price of $102.38. The firm has a market cap of $34.74 billion, a PE ratio of 6.20, a PEG ratio of 1.49 and a beta of 0.62. 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 1-year low of $73.51 and a 1-year high of $116.47.

Arch Capital Group (NASDAQ:ACGL) last posted its quarterly earnings data on Wednesday, October 30th. The insurance provider reported $1.99 earnings per share for the quarter, topping the consensus estimate of $1.94 by $0.05. The company had revenue of $4.72 billion during 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 period in the prior year, the firm earned $2.31 earnings per share. Research 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 firm also recently declared a special dividend, which was paid on Wednesday, December 4th. Stockholders of record on Monday, November 18th were paid a dividend of $5.00 per share. The ex-dividend date was Monday, November 18th.

Analyst Ratings Changes

A number of analysts have commented on ACGL shares. Barclays initiated coverage on shares of Arch Capital Group in a report on Wednesday, September 4th. They set an “equal weight” rating and a $120.00 target price for the company. JMP Securities upped their price objective 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. JPMorgan Chase & Co. raised their target price on Arch Capital Group from $108.00 to $110.00 and gave the stock a “neutral” rating in a report on Thursday, October 10th. Jefferies Financial Group upped their price target on Arch Capital Group from $114.00 to $134.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Finally, TD Cowen lifted 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 note on Friday, September 20th. 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, Arch Capital Group presently has an average rating of “Moderate Buy” and an average price target of $118.38.

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.