Arch Capital Group (NASDAQ:ACGL) Stock Gets Price Target Reduction from Cantor Fitzgerald

Arch Capital Group (NASDAQ:ACGL) had its target price lowered by Cantor Fitzgerald from $110.00 to $105.00 in a report published on Wednesday morning, MarketBeat.com reports. Cantor Fitzgerald currently has a neutral rating on the insurance provider’s stock.

ACGL has been the topic of a number of other reports. Royal Bank Of Canada reiterated an “outperform” rating and set a $120.00 price target (up from $115.00) on shares of Arch Capital Group in a research note on Thursday, July 30th. Morgan Stanley reduced their price objective on shares of Arch Capital Group from $111.00 to $105.00 and set an “overweight” rating for the company in a research report on Tuesday. JPMorgan Chase & Co. lifted their price objective on Arch Capital Group from $116.00 to $118.00 and gave the company a “neutral” rating in a report on Tuesday, August 11th. Mizuho set a $100.00 target price on Arch Capital Group and gave the stock a “neutral” rating in a research report on Wednesday, September 16th. Finally, Wells Fargo & Company increased their target price on Arch Capital Group from $114.00 to $117.00 and gave the stock an “overweight” rating in a research note on Thursday, July 30th. Six equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $109.75.

Arch Capital Group Stock Performance

NASDAQ:ACGL opened at $95.57 on Wednesday. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.57 and a quick ratio of 0.57. The firm has a market cap of $32.61 billion, a price-to-earnings ratio of 7.47, a price-to-earnings-growth ratio of 2.93 and a beta of 0.28. The firm’s fifty day moving average price is $97.27 and its 200 day moving average price is $96.54. Arch Capital Group has a 1-year low of $82.44 and a 1-year high of $107.08.

Arch Capital Group (NASDAQ:ACGL) last announced its quarterly earnings data on Tuesday, July 28th. The insurance provider reported $2.56 EPS for the quarter, topping analysts’ consensus estimates of $2.47 by $0.09. Arch Capital Group had a net margin of 24.40% and a return on equity of 17.06%. The company had revenue of $4.67 billion during the quarter, compared to the consensus estimate of $4.36 billion. During the same quarter in the prior year, the firm earned $2.58 EPS. On average, sell-side analysts expect that Arch Capital Group will post 9.56 EPS for the current year.

Insiders Place Their Bets

In other Arch Capital Group news, CFO Francois Morin sold 11,010 shares of the company’s stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $99.32, for a total transaction of $1,093,513.20. Following the transaction, the chief financial officer directly owned 184,826 shares in the company, valued at approximately $18,356,918.32. This represents a 5.62% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 3.30% of the company’s stock.

Institutional Investors Weigh In On Arch Capital Group

Hedge funds and other institutional investors have recently modified their holdings of the stock. Madison Asset Management LLC purchased a new stake in Arch Capital Group in the 2nd quarter valued at approximately $368,808,000. First Trust Advisors LP increased its position in Arch Capital Group by 319.5% during the first quarter. First Trust Advisors LP now owns 2,626,148 shares of the insurance provider’s stock worth $252,084,000 after buying an additional 2,000,162 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its holdings in shares of Arch Capital Group by 572.8% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,268,601 shares of the insurance provider’s stock worth $121,684,000 after acquiring an additional 1,080,049 shares during the last quarter. Hsbc Holdings PLC raised its holdings in shares of Arch Capital Group by 230.0% in the first quarter. Hsbc Holdings PLC now owns 1,286,178 shares of the insurance provider’s stock worth $123,354,000 after acquiring an additional 896,480 shares during the last quarter. Finally, Davis Asset Management L.P. acquired a new position in shares of Arch Capital Group in the second quarter worth $63,089,000. 89.07% of the stock is currently owned by institutional investors and hedge funds.

Arch Capital Group Company Profile

Arch Capital Group Ltd. is a Bermuda-based insurance, reinsurance and mortgage insurance company whose shares trade on the Nasdaq under the symbol ACGL. The company was established in 1995 and has developed into a global provider of specialty risk-management products and services.

Through its insurance operations, Arch offers property, casualty, specialty, and accident and health coverage to businesses and other policyholders. Its reinsurance operations provide coverage and risk-transfer solutions to insurance companies across a range of property and casualty lines.