Public Employees Retirement System of Ohio Invests $17.34 Million in Arch Capital Group Ltd. (NASDAQ:ACGL)

Public Employees Retirement System of Ohio acquired a new position in Arch Capital Group Ltd. (NASDAQ:ACGL) in the 3rd quarter, Holdings Channel reports. The firm acquired 154,966 shares of the insurance provider’s stock, valued at approximately $17,338,000.

Other large investors also recently made changes to their positions in the company. PNC Financial Services Group Inc. increased its position in shares of Arch Capital Group by 10.0% in the third quarter. PNC Financial Services Group Inc. now owns 71,721 shares of the insurance provider’s stock worth $8,024,000 after acquiring an additional 6,521 shares in the last quarter. Banque Cantonale Vaudoise grew its holdings in Arch Capital Group by 172.2% during the 3rd quarter. Banque Cantonale Vaudoise now owns 55,423 shares of the insurance provider’s stock valued at $6,201,000 after purchasing an additional 35,060 shares in the last quarter. Metis Global Partners LLC grew its holdings in Arch Capital Group by 26.6% during the 3rd quarter. Metis Global Partners LLC now owns 25,465 shares of the insurance provider’s stock valued at $2,849,000 after purchasing an additional 5,345 shares in the last quarter. Signaturefd LLC grew its holdings in Arch Capital Group by 6.8% during the 3rd quarter. Signaturefd LLC now owns 2,952 shares of the insurance provider’s stock valued at $330,000 after purchasing an additional 187 shares in the last quarter. Finally, Canada Pension Plan Investment Board grew its holdings in Arch Capital Group by 12.7% during the 2nd quarter. Canada Pension Plan Investment Board now owns 287,091 shares of the insurance provider’s stock valued at $28,965,000 after purchasing an additional 32,370 shares in the last quarter. Institutional investors and hedge funds own 89.07% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. JMP Securities raised their price target on shares of Arch Capital Group from $115.00 to $125.00 and gave the company a “market outperform” rating in a report on Tuesday, October 15th. Barclays initiated coverage on shares of Arch Capital Group in a report on Wednesday, September 4th. They set an “equal weight” rating and a $120.00 price target for the company. Jefferies Financial Group raised their price objective on shares of Arch Capital Group from $114.00 to $134.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. BMO Capital Markets raised their price objective on shares of Arch Capital Group from $98.00 to $104.00 and gave the stock a “market perform” rating in a report on Wednesday, November 6th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Arch Capital Group from $108.00 to $110.00 and gave the stock a “neutral” rating in a report on Thursday, October 10th. 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 has an average rating of “Moderate Buy” and a consensus price target of $118.38.

Arch Capital Group Stock Down 2.7 %

ACGL stock opened at $93.35 on Wednesday. Arch Capital Group Ltd. has a 52 week low of $72.85 and a 52 week high of $116.47. The company has a market capitalization of $35.12 billion, a price-to-earnings ratio of 6.27, a price-to-earnings-growth ratio of 1.56 and a beta of 0.62. The firm’s 50-day moving average is $103.23 and its two-hundred day moving average is $103.26. 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 released its quarterly earnings results on Wednesday, October 30th. The insurance provider reported $1.99 EPS 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 for the quarter, compared to the consensus estimate of $4.05 billion. During the same period in the previous year, the firm earned $2.31 EPS. On average, 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 firm also recently disclosed a special dividend, which was paid on Wednesday, December 4th. Stockholders of record on Monday, November 18th were paid a $5.00 dividend. The ex-dividend date of this dividend was 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.