Citigroup Inc. Raises Stock Holdings in Arch Capital Group Ltd. (NASDAQ:ACGL)

Citigroup Inc. increased its stake in shares of Arch Capital Group Ltd. (NASDAQ:ACGL) by 12.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 625,403 shares of the insurance provider’s stock after purchasing an additional 69,914 shares during the quarter. Citigroup Inc. owned approximately 0.17% of Arch Capital Group worth $69,970,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the company. UMB Bank n.a. acquired a new stake in shares of Arch Capital Group during the second quarter worth $30,000. Baldwin Brothers LLC MA boosted its stake in Arch Capital Group by 50.7% in the 2nd quarter. Baldwin Brothers LLC MA now owns 309 shares of the insurance provider’s stock worth $31,000 after buying an additional 104 shares during the last quarter. Rothschild Investment LLC purchased a new stake in Arch Capital Group in the 2nd quarter valued at about $35,000. LRI Investments LLC acquired a new position in shares of Arch Capital Group during the 1st quarter valued at about $40,000. Finally, Compagnie Lombard Odier SCmA purchased a new position in shares of Arch Capital Group during the 3rd quarter worth about $46,000. Institutional investors and hedge funds own 89.07% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Keefe, Bruyette & Woods increased their price target on shares of Arch Capital Group from $120.00 to $121.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 7th. JPMorgan Chase & Co. increased their target price on Arch Capital Group from $108.00 to $110.00 and gave the stock a “neutral” rating in a research report on Thursday, October 10th. BMO Capital Markets boosted their price target on Arch Capital Group from $98.00 to $104.00 and gave the company a “market perform” rating in a research report on Wednesday, November 6th. Jefferies Financial Group upped their price target on Arch Capital Group from $114.00 to $134.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Finally, TD Cowen lifted their price objective on Arch Capital Group from $116.00 to $138.00 and gave the company a “buy” rating in a research note on Friday, September 20th. Six investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $118.38.

Arch Capital Group Stock Performance

Arch Capital Group stock opened at $99.69 on Friday. Arch Capital Group Ltd. has a 12-month low of $72.85 and a 12-month high of $116.47. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.58 and a quick ratio of 0.58. The company has a market capitalization of $37.51 billion, a price-to-earnings ratio of 6.69, a price-to-earnings-growth ratio of 1.56 and a beta of 0.61. The firm’s fifty day moving average price is $106.67 and its 200 day moving average price is $103.35.

Arch Capital Group (NASDAQ:ACGL) last released its quarterly earnings results on Wednesday, October 30th. The insurance provider reported $1.99 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 analysts’ expectations 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 firm posted $2.31 earnings per share. On average, research analysts forecast that Arch Capital Group Ltd. will post 9.01 EPS for the current fiscal year.

Arch Capital Group Dividend Announcement

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