Cynosure Group LLC Decreases Stock Holdings in Arch Capital Group Ltd. (NASDAQ:ACGL)

Cynosure Group LLC reduced its position in shares of Arch Capital Group Ltd. (NASDAQ:ACGL) by 15.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,220 shares of the insurance provider’s stock after selling 582 shares during the period. Cynosure Group LLC’s holdings in Arch Capital Group were worth $360,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the business. Townsquare Capital LLC lifted its holdings in Arch Capital Group by 41.7% in the 3rd quarter. Townsquare Capital LLC now owns 7,969 shares of the insurance provider’s stock worth $892,000 after buying an additional 2,347 shares during the period. Transamerica Financial Advisors Inc. raised its holdings in shares of Arch Capital Group by 190.3% during the third quarter. Transamerica Financial Advisors Inc. now owns 1,916 shares of the insurance provider’s stock valued at $215,000 after acquiring an additional 1,256 shares in the last quarter. Brooklyn Investment Group purchased a new stake in Arch Capital Group in the third quarter worth $141,000. Quantbot Technologies LP bought a new stake in Arch Capital Group in the third quarter valued at $25,000. Finally, D.A. Davidson & CO. increased its position in Arch Capital Group by 13.0% during the 3rd quarter. D.A. Davidson & CO. now owns 41,430 shares of the insurance provider’s stock valued at $4,635,000 after purchasing an additional 4,753 shares during the period. 89.07% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on ACGL shares. JPMorgan Chase & Co. lifted their target price on shares of Arch Capital Group from $108.00 to $110.00 and gave the company a “neutral” rating in a research note on Thursday, October 10th. Royal Bank of Canada reduced their target price on Arch Capital Group from $128.00 to $125.00 and set an “outperform” rating on the stock in a report on Friday, November 1st. Barclays assumed coverage on Arch Capital Group in a research note on Wednesday, September 4th. They issued an “equal weight” rating and a $120.00 target price for the company. Bank of America dropped their price target on Arch Capital Group from $143.00 to $136.00 and set a “buy” rating on the stock in a research report on Friday, November 15th. Finally, Wells Fargo & Company decreased their price objective on Arch Capital Group from $118.00 to $109.00 and set an “overweight” rating for the company in a report on Tuesday, November 19th. Six analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, Arch Capital Group has a consensus rating of “Moderate Buy” and a consensus price target of $118.38.

Arch Capital Group Price Performance

ACGL opened at $100.74 on Friday. The company’s 50-day simple moving average is $105.87 and its two-hundred day simple moving average 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 capitalization of $37.90 billion, a P/E ratio of 6.76, a P/E/G ratio of 1.60 and a beta of 0.61. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.58 and a current ratio of 0.58.

Arch Capital Group (NASDAQ:ACGL) last issued its 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 company had revenue of $4.72 billion for the quarter, compared to analysts’ expectations of $4.05 billion. Arch Capital Group had a net margin of 33.86% and a return on equity of 18.94%. During the same quarter last year, the company posted $2.31 earnings per share. As a group, analysts predict that Arch Capital Group Ltd. will post 8.99 EPS for the current year.

Arch Capital Group Dividend Announcement

The company also recently announced 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.