Burney Co. Sells 1,052 Shares of Arch Capital Group Ltd. (NASDAQ:ACGL)

Burney Co. lessened its stake in shares of Arch Capital Group Ltd. (NASDAQ:ACGL) by 1.1% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 91,714 shares of the insurance provider’s stock after selling 1,052 shares during the period. Burney Co.’s holdings in Arch Capital Group were worth $8,470,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the stock. LPL Financial LLC raised its holdings in shares of Arch Capital Group by 7.9% in the 2nd quarter. LPL Financial LLC now owns 307,334 shares of the insurance provider’s stock worth $31,007,000 after purchasing an additional 22,574 shares during the period. American Century Companies Inc. raised its stake in shares of Arch Capital Group by 6.0% in the second quarter. American Century Companies Inc. now owns 344,852 shares of the insurance provider’s stock valued at $34,792,000 after buying an additional 19,411 shares during the period. BOKF NA lifted its position in shares of Arch Capital Group by 487.4% during the 2nd quarter. BOKF NA now owns 3,260 shares of the insurance provider’s stock valued at $329,000 after buying an additional 2,705 shares during the last quarter. Oppenheimer & Co. Inc. grew its stake in shares of Arch Capital Group by 19.3% during the 2nd quarter. Oppenheimer & Co. Inc. now owns 18,414 shares of the insurance provider’s stock worth $1,858,000 after acquiring an additional 2,980 shares during the period. Finally, Meeder Advisory Services Inc. purchased a new stake in Arch Capital Group in the 2nd quarter worth about $227,000. Institutional investors own 89.07% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have commented on ACGL shares. Barclays dropped their price objective on shares of Arch Capital Group from $120.00 to $100.00 and set an “equal weight” rating on the stock in a report on Monday, January 6th. BMO Capital Markets raised their price objective on shares of Arch Capital Group from $98.00 to $104.00 and gave the stock a “market perform” rating in a report on Wednesday, November 6th. Evercore ISI lifted their price objective on shares of Arch Capital Group from $104.00 to $107.00 and gave the company an “in-line” rating in a research note on Wednesday, October 9th. Royal Bank of Canada dropped their target price on Arch Capital Group from $128.00 to $125.00 and set an “outperform” rating on the stock in a research report on Friday, November 1st. Finally, TD Cowen lifted their price target on Arch Capital Group from $116.00 to $138.00 and gave the company a “buy” rating in a research report on Friday, September 20th. Six research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $118.00.

Arch Capital Group Stock Performance

Arch Capital Group stock opened at $92.95 on Wednesday. Arch Capital Group Ltd. has a fifty-two week low of $77.53 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 stock has a market cap of $34.97 billion, a P/E ratio of 6.24, a price-to-earnings-growth ratio of 1.49 and a beta of 0.64. The firm’s fifty day moving average price is $95.60 and its 200-day moving average price is $101.73.

Arch Capital Group (NASDAQ:ACGL) last issued 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 firm had revenue of $4.72 billion during the quarter, compared to analyst estimates 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 previous year, the company posted $2.31 earnings per share. On average, equities research 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 firm also recently declared a special dividend, which was paid on Wednesday, December 4th. Shareholders of record on Monday, November 18th were given a dividend of $5.00 per share. The ex-dividend date of this dividend was 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.