Harvest Fund Management Co. Ltd Lowers Holdings in Arch Capital Group Ltd. (NASDAQ:ACGL)

Harvest Fund Management Co. Ltd reduced its position in shares of Arch Capital Group Ltd. (NASDAQ:ACGL) by 61.7% in the third quarter, Holdings Channel reports. The firm owned 3,254 shares of the insurance provider’s stock after selling 5,247 shares during the quarter. Harvest Fund Management Co. Ltd’s holdings in Arch Capital Group were worth $364,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of ACGL. Price T Rowe Associates Inc. MD increased its position in shares of Arch Capital Group by 0.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,052,549 shares of the insurance provider’s stock valued at $97,299,000 after acquiring an additional 7,109 shares in the last quarter. Silvercrest Asset Management Group LLC grew its position in Arch Capital Group by 2.1% in the 1st quarter. Silvercrest Asset Management Group LLC now owns 66,521 shares of the insurance provider’s stock worth $6,149,000 after purchasing an additional 1,351 shares during the period. B. Riley Wealth Advisors Inc. lifted its holdings in Arch Capital Group by 14.8% in the first quarter. B. Riley Wealth Advisors Inc. now owns 8,020 shares of the insurance provider’s stock valued at $741,000 after acquiring an additional 1,034 shares during the period. California State Teachers Retirement System boosted its holdings in shares of Arch Capital Group by 0.5% in the first quarter. California State Teachers Retirement System now owns 581,369 shares of the insurance provider’s stock worth $53,742,000 after buying an additional 2,990 shares during the last quarter. Finally, Virtu Financial LLC boosted its stake in shares of Arch Capital Group by 37.1% during the 1st quarter. Virtu Financial LLC now owns 15,300 shares of the insurance provider’s stock worth $1,414,000 after acquiring an additional 4,138 shares during the last quarter. 89.07% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

ACGL has been the topic of several analyst reports. JMP Securities lifted their target price on Arch Capital Group from $115.00 to $125.00 and gave the company a “market outperform” rating in a research report on Tuesday, October 15th. Bank of America decreased their target price on shares of Arch Capital Group from $143.00 to $136.00 and set a “buy” rating on the stock in a research note on Friday, November 15th. Royal Bank of Canada cut their price target on Arch Capital Group from $128.00 to $125.00 and set an “outperform” rating for the company in a research note on Friday, November 1st. Roth Mkm boosted their price objective on Arch Capital Group from $110.00 to $125.00 and gave the company a “buy” rating in a research report on Friday, August 23rd. Finally, TD Cowen upped their price objective on 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 analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, Arch Capital Group presently has an average rating of “Moderate Buy” and an average target price of $118.38.

Arch Capital Group Trading Up 0.3 %

Shares of ACGL opened at $100.41 on Wednesday. Arch Capital Group Ltd. has a fifty-two week low of $72.85 and a fifty-two week high of $116.47. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.58 and a current ratio of 0.58. The company’s fifty day moving average is $106.38 and its 200 day moving average is $103.39. The stock has a market capitalization of $37.78 billion, a PE ratio of 6.74, a P/E/G ratio of 1.59 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 earnings per share (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 firm had revenue of $4.72 billion for the quarter, compared to analysts’ expectations of $4.05 billion. During the same period in the prior year, the company earned $2.31 EPS. Sell-side analysts expect that Arch Capital Group Ltd. will post 8.99 earnings per share for the current fiscal year.

Arch Capital Group Announces Dividend

The business also recently disclosed a special dividend, which will be paid on Wednesday, December 4th. Stockholders of record on Monday, November 18th will be paid a $5.00 dividend. The ex-dividend date of this dividend 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.