Everence Capital Management Inc. Increases Holdings in Arch Capital Group Ltd. (NASDAQ:ACGL)

Everence Capital Management Inc. boosted its position in Arch Capital Group Ltd. (NASDAQ:ACGL) by 239.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 19,580 shares of the insurance provider’s stock after buying an additional 13,820 shares during the period. Everence Capital Management Inc.’s holdings in Arch Capital Group were worth $1,808,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Arch Capital Group by 245.1% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,053,739 shares of the insurance provider’s stock valued at $341,652,000 after acquiring an additional 2,168,897 shares during the last quarter. Erste Asset Management GmbH purchased a new stake in Arch Capital Group in the third quarter valued at $82,748,000. National Pension Service acquired a new stake in Arch Capital Group during the 3rd quarter worth about $64,271,000. International Assets Investment Management LLC raised its stake in shares of Arch Capital Group by 18,634.1% during the 3rd quarter. International Assets Investment Management LLC now owns 551,345 shares of the insurance provider’s stock valued at $616,840,000 after buying an additional 548,402 shares during the last quarter. Finally, Brandes Investment Partners LP acquired a new position in shares of Arch Capital Group in the 2nd quarter valued at about $48,119,000. Institutional investors and hedge funds own 89.07% of the company’s stock.

Arch Capital Group Stock Performance

Shares of NASDAQ:ACGL opened at $91.40 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. Arch Capital Group Ltd. has a 1 year low of $74.85 and a 1 year high of $116.47. The firm has a market capitalization of $34.39 billion, a PE ratio of 6.13, a P/E/G ratio of 1.49 and a beta of 0.62. The business’s 50 day moving average price is $96.72 and its 200-day moving average price is $102.14.

Arch Capital Group (NASDAQ:ACGL) last released its earnings results on Wednesday, October 30th. The insurance provider reported $1.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.94 by $0.05. The business had revenue of $4.72 billion during the quarter, compared to analyst estimates 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 quarter in the prior year, the firm earned $2.31 earnings per share. As a group, equities research 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 firm also recently announced a special dividend, which was paid on Wednesday, December 4th. Shareholders of record on Monday, November 18th were paid a $5.00 dividend. The ex-dividend date of this dividend was Monday, November 18th.

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. Wells Fargo & Company reduced their price target on Arch Capital Group from $118.00 to $109.00 and set an “overweight” rating for the company in a research report on Tuesday, November 19th. Citigroup lifted their target price on shares of Arch Capital Group from $105.00 to $114.00 and gave the company a “neutral” rating in a report on Tuesday, September 10th. Jefferies Financial Group increased their price target on shares of Arch Capital Group from $114.00 to $134.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. TD Cowen lifted their price objective on shares of 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 lowered shares of Arch Capital Group from a “buy” rating to a “hold” rating in a research note on Thursday, October 24th. Six research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $118.13.

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.