Plato Investment Management Ltd Buys Shares of 2,883 Arch Capital Group Ltd. (NASDAQ:ACGL)

Plato Investment Management Ltd acquired a new stake in Arch Capital Group Ltd. (NASDAQ:ACGL) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 2,883 shares of the insurance provider’s stock, valued at approximately $322,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Vanguard Group Inc. grew its holdings in Arch Capital Group by 0.3% in the first quarter. Vanguard Group Inc. now owns 40,858,890 shares of the insurance provider’s stock valued at $3,776,996,000 after purchasing an additional 104,008 shares during the period. Principal Financial Group Inc. raised its holdings in shares of Arch Capital Group by 4.8% in the 3rd quarter. Principal Financial Group Inc. now owns 7,438,738 shares of the insurance provider’s stock worth $832,246,000 after purchasing an additional 337,786 shares during the period. Allspring Global Investments Holdings LLC lifted its stake in shares of Arch Capital Group by 1.0% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 5,124,251 shares of the insurance provider’s stock valued at $573,301,000 after purchasing an additional 49,426 shares in the last quarter. Capital International Investors grew its holdings in shares of Arch Capital Group by 61.1% during the 1st quarter. Capital International Investors now owns 4,112,577 shares of the insurance provider’s stock worth $380,167,000 after purchasing an additional 1,560,173 shares during the period. Finally, Dimensional Fund Advisors LP increased its position in Arch Capital Group by 6.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,925,288 shares of the insurance provider’s stock worth $396,026,000 after purchasing an additional 244,285 shares in the last quarter. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on ACGL. JMP Securities increased their price target 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. BMO Capital Markets raised their target price on Arch Capital Group from $98.00 to $104.00 and gave the company a “market perform” rating in a report on Wednesday, November 6th. TD Cowen upped their price target on Arch Capital Group from $116.00 to $138.00 and gave the stock a “buy” rating in a report on Friday, September 20th. Wells Fargo & Company reduced their target price on shares of Arch Capital Group from $126.00 to $118.00 and set an “overweight” rating on the stock in a research report on Monday, November 4th. Finally, StockNews.com lowered shares of Arch Capital Group from a “buy” rating to a “hold” rating in a report on Thursday, October 24th. Six analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, Arch Capital Group presently has an average rating of “Moderate Buy” and an average target price of $118.94.

Arch Capital Group Price Performance

ACGL opened at $101.83 on Friday. 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 company’s 50-day moving average price is $108.03 and its 200 day moving average price is $103.24. Arch Capital Group Ltd. has a fifty-two week low of $72.85 and a fifty-two week high of $116.47. The firm has a market cap of $38.31 billion, a price-to-earnings ratio of 6.83, a price-to-earnings-growth ratio of 1.46 and a beta of 0.61.

Arch Capital Group (NASDAQ:ACGL) last announced its quarterly earnings results on Wednesday, October 30th. The insurance provider reported $1.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.94 by $0.05. The business had revenue of $4.72 billion for the quarter, compared to the consensus estimate 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 last year, the business posted $2.31 EPS. As a group, sell-side analysts expect that Arch Capital Group Ltd. will post 9.02 earnings per share for the current year.

Arch Capital Group Dividend Announcement

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 issued 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.