Keefe, Bruyette & Woods reaffirmed their hold rating on shares of Arch Capital Group (NASDAQ:ACGL) in a research report report published on Wednesday morning. They currently have a $101.00 target price on the insurance provider’s stock.
Several other research firms have also weighed in on ACGL. Wells Fargo & Company set a $100.00 target price on Arch Capital Group and gave the stock a hold rating in a report on Thursday, October 26th. Buckingham Research initiated coverage on Arch Capital Group in a report on Monday, September 11th. They issued a buy rating and a $106.00 target price for the company. UBS dropped their price target on Arch Capital Group from $114.00 to $110.00 and set a buy rating on the stock in a research report on Tuesday, September 19th. Zacks Investment Research downgraded Arch Capital Group from a hold rating to a sell rating in a research report on Tuesday, September 26th. Finally, Royal Bank Of Canada reaffirmed a buy rating and issued a $113.00 price target on shares of Arch Capital Group in a research report on Friday, October 27th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the stock. Arch Capital Group currently has a consensus rating of Hold and a consensus price target of $100.80.
Arch Capital Group (ACGL) traded up $0.15 on Wednesday, reaching $92.86. The company had a trading volume of 388,900 shares, compared to its average volume of 460,752. Arch Capital Group has a 12-month low of $84.04 and a 12-month high of $102.60. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.49. The firm has a market cap of $12,133.33, a price-to-earnings ratio of 31.22, a P/E/G ratio of 2.61 and a beta of 0.67.
Arch Capital Group (NASDAQ:ACGL) last posted its earnings results on Wednesday, October 25th. The insurance provider reported ($0.79) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.59) by ($0.20). Arch Capital Group had a return on equity of 5.57% and a net margin of 9.44%. The company had revenue of $1.33 billion during the quarter, compared to analyst estimates of $1.16 billion. During the same quarter last year, the firm posted $1.14 earnings per share. The firm’s revenue for the quarter was up 30.7% compared to the same quarter last year. research analysts expect that Arch Capital Group will post 3.23 EPS for the current year.
In other Arch Capital Group news, CEO Nicolas Papadopoulo sold 80,694 shares of the company’s stock in a transaction on Friday, September 8th. The stock was sold at an average price of $93.80, for a total value of $7,569,097.20. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Mark Donald Lyons sold 9,967 shares of the company’s stock in a transaction on Tuesday, September 12th. The shares were sold at an average price of $97.31, for a total value of $969,888.77. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 184,133 shares of company stock worth $17,534,527. 6.60% of the stock is currently owned by company insiders.
A number of large investors have recently made changes to their positions in the business. IFM Investors Pty Ltd bought a new stake in Arch Capital Group in the third quarter valued at $260,000. California Public Employees Retirement System grew its position in Arch Capital Group by 2.8% in the third quarter. California Public Employees Retirement System now owns 309,320 shares of the insurance provider’s stock valued at $30,468,000 after acquiring an additional 8,520 shares during the period. Janus Henderson Group PLC grew its position in Arch Capital Group by 6.4% in the third quarter. Janus Henderson Group PLC now owns 1,143,678 shares of the insurance provider’s stock valued at $112,652,000 after acquiring an additional 68,746 shares during the period. Vident Investment Advisory LLC bought a new stake in Arch Capital Group in the third quarter valued at $698,000. Finally, First Republic Investment Management Inc. boosted its stake in Arch Capital Group by 8.3% in the third quarter. First Republic Investment Management Inc. now owns 40,511 shares of the insurance provider’s stock worth $3,990,000 after purchasing an additional 3,099 shares in the last quarter. Hedge funds and other institutional investors own 79.50% of the company’s stock.
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About Arch Capital Group
Arch Capital Group Ltd. provides insurance, reinsurance and mortgage insurance. The Company provides a range of property, casualty and mortgage insurance and reinsurance lines. The Company operates in five segments: insurance, reinsurance, mortgage, other and corporate. The insurance segment’s product lines include construction and national accounts; excess and surplus casualty; lenders products; professional lines; programs; property, energy, marine and aviation; travel, accident and health, and other.
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