Cinctive Capital Management LP Reduces Position in Arch Capital Group Ltd. (NASDAQ:ACGL)

Cinctive Capital Management LP trimmed its holdings in Arch Capital Group Ltd. (NASDAQ:ACGL) by 65.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 41,964 shares of the insurance provider’s stock after selling 80,977 shares during the quarter. Cinctive Capital Management LP’s holdings in Arch Capital Group were worth $4,695,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Benjamin Edwards Inc. bought a new position in Arch Capital Group in the 3rd quarter valued at $1,873,000. Alerus Financial NA boosted its stake in shares of Arch Capital Group by 0.5% during the third quarter. Alerus Financial NA now owns 30,436 shares of the insurance provider’s stock valued at $3,405,000 after purchasing an additional 161 shares during the period. Erste Asset Management GmbH bought a new position in shares of Arch Capital Group in the third quarter worth about $82,748,000. Edgestream Partners L.P. increased its stake in Arch Capital Group by 215.8% in the 3rd quarter. Edgestream Partners L.P. now owns 33,712 shares of the insurance provider’s stock worth $3,772,000 after buying an additional 23,037 shares during the period. Finally, Kolinsky Wealth Management LLC bought a new stake in Arch Capital Group during the 3rd quarter valued at about $226,000. 89.07% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have commented on ACGL. JPMorgan Chase & Co. upped their target price on shares of Arch Capital Group from $108.00 to $110.00 and gave the stock a “neutral” rating in a research note on Thursday, October 10th. BMO Capital Markets raised their price objective on Arch Capital Group from $98.00 to $104.00 and gave the stock a “market perform” rating in a report on Wednesday, November 6th. Bank of America decreased their target price on Arch Capital Group from $143.00 to $136.00 and set a “buy” rating for the company in a research report on Friday, November 15th. Royal Bank of Canada dropped their price target 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, Roth Mkm lifted their price objective on Arch Capital Group from $110.00 to $125.00 and gave the company a “buy” rating in a report on Friday, August 23rd. Six analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $118.38.

Arch Capital Group Trading Down 1.4 %

NASDAQ ACGL opened at $99.30 on Tuesday. Arch Capital Group Ltd. has a 52 week low of $72.85 and a 52 week high of $116.47. The company has a 50 day moving average price of $105.40 and a 200 day moving average price of $103.45. 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 firm has a market cap of $37.36 billion, a PE ratio of 6.66, a price-to-earnings-growth ratio of 1.60 and a beta of 0.62.

Arch Capital Group (NASDAQ:ACGL) last issued its quarterly earnings data on Wednesday, October 30th. The insurance provider reported $1.99 EPS for the quarter, beating the consensus estimate of $1.94 by $0.05. Arch Capital Group had a return on equity of 18.94% and a net margin of 33.86%. The firm had revenue of $4.72 billion during the quarter, compared to analyst estimates of $4.05 billion. During the same quarter in the prior year, the business posted $2.31 EPS. As a group, sell-side analysts forecast that Arch Capital Group Ltd. will post 8.99 EPS for the current fiscal year.

Arch Capital Group Dividend Announcement

The firm also recently declared a special dividend, which will be paid on Wednesday, December 4th. Shareholders of record on Monday, November 18th will be issued a $5.00 dividend. The ex-dividend date 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.