Wellington Management Group LLP Reduces Stock Position in Arch Capital Group Ltd. (NASDAQ:ACGL)

Wellington Management Group LLP lessened its holdings in shares of Arch Capital Group Ltd. (NASDAQ:ACGL) by 7.6% during the third quarter, Holdings Channel reports. The firm owned 3,853,675 shares of the insurance provider’s stock after selling 316,693 shares during the quarter. Wellington Management Group LLP’s holdings in Arch Capital Group were worth $431,149,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. State Street Corp grew its position in shares of Arch Capital Group by 1.1% in the 3rd quarter. State Street Corp now owns 16,587,446 shares of the insurance provider’s stock worth $1,855,803,000 after buying an additional 172,628 shares during the last quarter. Principal Financial Group Inc. lifted its stake in Arch Capital Group by 4.8% in the third quarter. Principal Financial Group Inc. now owns 7,438,738 shares of the insurance provider’s stock worth $832,246,000 after acquiring an additional 337,786 shares during the period. Allspring Global Investments Holdings LLC boosted its holdings in Arch Capital Group by 1.0% in the third quarter. Allspring Global Investments Holdings LLC now owns 5,124,251 shares of the insurance provider’s stock valued at $573,301,000 after acquiring an additional 49,426 shares in the last quarter. 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 valued at $396,026,000 after purchasing an additional 244,285 shares during the period. Finally, Legal & General Group Plc raised its holdings in Arch Capital Group by 10.1% in the 2nd quarter. Legal & General Group Plc now owns 3,455,949 shares of the insurance provider’s stock worth $348,671,000 after purchasing an additional 316,070 shares in the last quarter. Institutional investors own 89.07% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. BMO Capital Markets lifted their target price on shares of Arch Capital Group from $98.00 to $104.00 and gave the company a “market perform” rating in a research note on Wednesday, November 6th. Jefferies Financial Group upped their target price on Arch Capital Group from $114.00 to $134.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Royal Bank of Canada lowered their target price 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. JPMorgan Chase & Co. upped their price target on Arch Capital Group from $108.00 to $110.00 and gave the stock a “neutral” rating in a research note on Thursday, October 10th. Finally, Citigroup increased their price objective on Arch Capital Group from $105.00 to $114.00 and gave the stock a “neutral” rating in a report on Tuesday, September 10th. Six analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $118.38.

Arch Capital Group Stock Performance

Shares of ACGL opened at $97.83 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 business’s 50 day moving average price is $103.95 and its 200-day moving average price is $103.37. Arch Capital Group Ltd. has a 52 week low of $72.85 and a 52 week high of $116.47. The stock has a market cap of $36.81 billion, a P/E ratio of 6.57, a P/E/G ratio of 1.57 and a beta of 0.62.

Arch Capital Group (NASDAQ:ACGL) last announced its quarterly earnings data on Wednesday, October 30th. The insurance provider reported $1.99 earnings per share for the quarter, topping analysts’ consensus estimates 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 company had revenue of $4.72 billion during the quarter, compared to analyst estimates of $4.05 billion. During the same period in the previous year, the business earned $2.31 EPS. Equities research analysts anticipate that Arch Capital Group Ltd. will post 8.99 earnings per share for the current fiscal year.

Arch Capital Group Dividend Announcement

The company also recently disclosed a special dividend, which was paid on Wednesday, December 4th. Investors of record on Monday, November 18th were issued a $5.00 dividend. The ex-dividend date was 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.