Retirement Systems of Alabama Has $39.75 Million Position in Arch Capital Group Ltd. (NASDAQ:ACGL)

Retirement Systems of Alabama trimmed its holdings in shares of Arch Capital Group Ltd. (NASDAQ:ACGL) by 6.9% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 355,321 shares of the insurance provider’s stock after selling 26,287 shares during the quarter. Retirement Systems of Alabama owned 0.09% of Arch Capital Group worth $39,753,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of ACGL. Quantbot Technologies LP bought a new stake in Arch Capital Group in the 3rd quarter valued at $25,000. UMB Bank n.a. bought a new position in shares of Arch Capital Group during the second quarter worth about $30,000. Rothschild Investment LLC acquired a new stake in Arch Capital Group in the 2nd quarter valued at approximately $35,000. Compagnie Lombard Odier SCmA acquired a new position in Arch Capital Group during the 3rd quarter worth approximately $46,000. Finally, Asset Dedication LLC grew its stake in shares of Arch Capital Group by 188.1% during the 3rd quarter. Asset Dedication LLC now owns 435 shares of the insurance provider’s stock worth $49,000 after acquiring an additional 284 shares in the last quarter. Institutional investors own 89.07% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently commented on ACGL shares. Roth Mkm boosted their price objective on shares of Arch Capital Group from $110.00 to $125.00 and gave the stock a “buy” rating in a research report on Friday, August 23rd. TD Cowen upped their target price on Arch Capital Group from $116.00 to $138.00 and gave the stock a “buy” rating in a report on Friday, September 20th. Jefferies Financial Group increased their price target on shares of Arch Capital Group from $114.00 to $134.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Bank of America reduced their target price on Arch Capital Group from $143.00 to $136.00 and set a “buy” rating for the company in a research note on Friday, November 15th. Finally, StockNews.com lowered shares of Arch Capital Group from a “buy” rating to a “hold” rating in a research note on Thursday, October 24th. Six investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $118.38.

Arch Capital Group Trading Down 0.5 %

Shares of Arch Capital Group stock opened at $93.42 on Friday. The firm’s 50 day moving average is $102.03 and its 200 day moving average is $103.06. The firm has a market capitalization of $35.15 billion, a PE ratio of 6.27, a price-to-earnings-growth ratio of 1.50 and a beta of 0.62. Arch Capital Group Ltd. has a 1 year low of $72.85 and a 1 year high of $116.47. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 0.17.

Arch Capital Group (NASDAQ:ACGL) last posted its earnings results 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 firm had revenue of $4.72 billion for the quarter, compared to analysts’ expectations of $4.05 billion. During the same quarter in the previous year, the firm posted $2.31 earnings per share. Equities research analysts forecast that Arch Capital Group Ltd. will post 8.99 earnings per share for the current fiscal year.

Arch Capital Group Announces Dividend

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