Arch Capital Group (NASDAQ:ACGL) was upgraded by Barclays from an “equal weight” rating to an “overweight” rating in a report released on Wednesday, Marketbeat reports. The firm currently has a $32.00 price objective on the insurance provider’s stock, up from their prior price objective of $29.00. Barclays‘s price objective suggests a potential upside of 17.99% from the company’s current price.
Several other analysts have also recently commented on ACGL. Zacks Investment Research cut shares of Arch Capital Group from a “buy” rating to a “hold” rating in a research note on Monday, November 26th. BidaskClub cut shares of Arch Capital Group from a “hold” rating to a “sell” rating in a research note on Friday, November 30th. Wells Fargo & Co reiterated a “hold” rating and issued a $30.00 target price on shares of Arch Capital Group in a research note on Thursday, December 13th. Finally, Morgan Stanley set a $22.00 target price on shares of Arch Capital Group and gave the company a “hold” rating in a research note on Wednesday, November 14th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $29.50.
Shares of NASDAQ ACGL opened at $27.12 on Wednesday. The company has a quick ratio of 0.53, a current ratio of 0.53 and a debt-to-equity ratio of 0.30. Arch Capital Group has a 12 month low of $24.79 and a 12 month high of $31.59. The company has a market cap of $10.83 billion, a price-to-earnings ratio of 25.35, a price-to-earnings-growth ratio of 1.00 and a beta of 0.68.
Arch Capital Group (NASDAQ:ACGL) last announced its quarterly earnings data on Tuesday, October 30th. The insurance provider reported $0.59 EPS for the quarter, beating the consensus estimate of $0.52 by $0.07. Arch Capital Group had a net margin of 15.15% and a return on equity of 10.30%. The business had revenue of $1.33 billion during the quarter, compared to analysts’ expectations of $1.19 billion. During the same period in the previous year, the business posted ($0.13) EPS. The business’s quarterly revenue was up .6% compared to the same quarter last year. As a group, equities research analysts forecast that Arch Capital Group will post 2.18 earnings per share for the current year.
In related news, Director Brian S. Posner acquired 1,000 shares of the stock in a transaction that occurred on Wednesday, November 28th. The stock was purchased at an average cost of $25.05 per share, for a total transaction of $25,050.00. Following the purchase, the director now directly owns 3,000 shares in the company, valued at $75,150. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Brian S. Posner acquired 2,500 shares of the stock in a transaction that occurred on Monday, November 5th. The shares were bought at an average price of $22.45 per share, with a total value of $56,125.00. Following the completion of the purchase, the director now owns 2,500 shares in the company, valued at $56,125. The disclosure for this purchase can be found here. Insiders have sold a total of 12,593 shares of company stock worth $353,393 over the last three months. 5.10% of the stock is currently owned by corporate insiders.
Hedge funds have recently made changes to their positions in the stock. Rehmann Capital Advisory Group lifted its holdings in shares of Arch Capital Group by 2,880.4% during the third quarter. Rehmann Capital Advisory Group now owns 4,113 shares of the insurance provider’s stock valued at $138,000 after purchasing an additional 3,975 shares during the last quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC increased its holdings in shares of Arch Capital Group by 226.1% during the 2nd quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 5,880 shares of the insurance provider’s stock valued at $156,000 after acquiring an additional 4,077 shares during the last quarter. Cerebellum GP LLC acquired a new stake in Arch Capital Group in the 3rd quarter valued at approximately $156,000. Tower Research Capital LLC TRC acquired a new stake in Arch Capital Group in the 2nd quarter valued at approximately $177,000. Finally, Schroder Investment Management Group grew its holdings in Arch Capital Group by 159.7% in the 2nd quarter. Schroder Investment Management Group now owns 7,352 shares of the insurance provider’s stock valued at $194,000 after buying an additional 4,521 shares during the last quarter. 80.61% of the stock is owned by institutional investors and hedge funds.
Arch Capital Group Company Profile
Arch Capital Group Ltd., together with its subsidiaries, provides property, casualty, and mortgage insurance and reinsurance products worldwide. The company's Insurance segment offers primary and excess casualty coverages; loss sensitive primary casualty insurance programs; collateral protection, debt cancellation, and service contract reimbursement products; 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.
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