Oppenheimer & Co. Inc. Purchases 1,321 Shares of Arch Capital Group Ltd. (NASDAQ:ACGL)

Oppenheimer & Co. Inc. increased its position in shares of Arch Capital Group Ltd. (NASDAQ:ACGL) by 7.2% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 19,735 shares of the insurance provider’s stock after buying an additional 1,321 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Arch Capital Group were worth $2,208,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of ACGL. Oppenheimer Asset Management Inc. grew its stake in shares of Arch Capital Group by 1.8% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 119,945 shares of the insurance provider’s stock worth $13,419,000 after acquiring an additional 2,073 shares in the last quarter. MQS Management LLC bought a new position in Arch Capital Group in the third quarter valued at $504,000. Haverford Trust Co increased its stake in Arch Capital Group by 14.7% in the 3rd quarter. Haverford Trust Co now owns 2,534 shares of the insurance provider’s stock valued at $284,000 after buying an additional 325 shares during the last quarter. Cumberland Partners Ltd increased its stake in Arch Capital Group by 9.9% in the 3rd quarter. Cumberland Partners Ltd now owns 45,480 shares of the insurance provider’s stock valued at $5,088,000 after buying an additional 4,100 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. boosted its stake in shares of Arch Capital Group by 1.1% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,002,798 shares of the insurance provider’s stock worth $112,193,000 after buying an additional 10,817 shares during the last quarter. Institutional investors and hedge funds own 89.07% of the company’s stock.

Arch Capital Group Price Performance

Shares of NASDAQ ACGL opened at $101.83 on Friday. The business has a fifty day moving average price of $108.03 and a two-hundred day moving average price of $103.31. The stock has a market capitalization of $38.31 billion, a PE ratio of 6.83, a P/E/G ratio of 1.46 and a beta of 0.61. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.58 and a quick ratio of 0.58. Arch Capital Group Ltd. has a fifty-two week low of $72.85 and a fifty-two week high of $116.47.

Arch Capital Group (NASDAQ:ACGL) last posted its quarterly earnings data on Wednesday, October 30th. The insurance provider reported $1.99 earnings per share for the quarter, topping the consensus estimate of $1.94 by $0.05. The business had revenue of $4.72 billion during 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 in the prior year, the business posted $2.31 earnings per share. As a group, equities analysts predict that Arch Capital Group Ltd. will post 9.02 earnings per share for the current fiscal year.

Arch Capital Group Announces Dividend

The firm 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.

Analysts Set New Price Targets

A number of analysts recently issued reports on ACGL shares. Citigroup lifted their target price on Arch Capital Group from $105.00 to $114.00 and gave the company a “neutral” rating in a research report on Tuesday, September 10th. BMO Capital Markets boosted their price target on Arch Capital Group from $98.00 to $104.00 and gave the stock a “market perform” rating in a research report on Wednesday, November 6th. Roth Mkm increased 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. StockNews.com downgraded shares of Arch Capital Group from a “buy” rating to a “hold” rating in a report on Thursday, October 24th. Finally, Barclays began coverage on shares of Arch Capital Group in a research report on Wednesday, September 4th. They set an “equal weight” rating and a $120.00 price target on the stock. Six equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, Arch Capital Group presently has a consensus rating of “Moderate Buy” and a consensus price target of $118.94.

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.