Arch Capital Group (NASDAQ:ACGL) Price Target Cut to $105.00 by Analysts at Morgan Stanley

Arch Capital Group (NASDAQ:ACGL) had its target price lowered by equities research analysts at Morgan Stanley from $111.00 to $105.00 in a research report issued on Tuesday, Benzinga reports. The brokerage currently has an “overweight” rating on the insurance provider’s stock. Morgan Stanley’s price target would suggest a potential upside of 11.00% from the stock’s previous close.

A number of other equities analysts have also recently weighed in on ACGL. Cantor Fitzgerald upped their price target on Arch Capital Group from $102.00 to $110.00 and gave the stock a “neutral” rating in a report on Monday, August 3rd. Citigroup reaffirmed a “market outperform” rating on shares of Arch Capital Group in a report on Wednesday, July 29th. JPMorgan Chase & Co. raised their price target on shares of Arch Capital Group from $116.00 to $118.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 11th. Keefe, Bruyette & Woods lowered their price target on shares of Arch Capital Group from $102.00 to $99.00 and set a “market perform” rating on the stock in a research report on Wednesday, July 8th. Finally, Royal Bank Of Canada reiterated an “outperform” rating and issued a $120.00 price objective (up from $115.00) on shares of Arch Capital Group in a report on Thursday, July 30th. Six investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $110.46.

Arch Capital Group Stock Up 0.3%

Shares of ACGL stock traded up $0.24 during trading hours on Tuesday, reaching $94.60. 748,432 shares of the company’s stock were exchanged, compared to its average volume of 2,356,177. The stock’s 50 day moving average is $97.91 and its 200-day moving average is $96.49. Arch Capital Group has a fifty-two week low of $82.44 and a fifty-two week high of $107.08. The company has a market cap of $32.28 billion, a price-to-earnings ratio of 7.40, a P/E/G ratio of 2.87 and a beta of 0.28. The company has a current ratio of 0.57, a quick ratio of 0.57 and a debt-to-equity ratio of 0.23.

Arch Capital Group (NASDAQ:ACGL) last announced its quarterly earnings data on Tuesday, July 28th. The insurance provider reported $2.56 earnings per share for the quarter, beating analysts’ consensus estimates of $2.47 by $0.09. The firm had revenue of $4.67 billion for the quarter, compared to analyst estimates of $4.36 billion. Arch Capital Group had a net margin of 24.40% and a return on equity of 17.06%. During the same period in the previous year, the company earned $2.58 earnings per share. Analysts predict that Arch Capital Group will post 9.51 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Arch Capital Group news, CFO Francois Morin sold 11,010 shares of the 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 completion of the transaction, the chief financial officer owned 184,826 shares of the company’s stock, valued at $18,356,918.32. This trade represents a 5.62% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 3.30% of the stock is owned by insiders.

Institutional Investors Weigh In On Arch Capital Group

A number of institutional investors have recently modified their holdings of ACGL. Madison Asset Management LLC purchased a new position in shares of Arch Capital Group during the second quarter worth approximately $368,808,000. First Trust Advisors LP boosted its stake in Arch Capital Group by 319.5% during the 1st quarter. First Trust Advisors LP now owns 2,626,148 shares of the insurance provider’s stock worth $252,084,000 after purchasing an additional 2,000,162 shares during the period. Arrowstreet Capital Limited Partnership boosted its stake in Arch Capital Group by 572.8% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,268,601 shares of the insurance provider’s stock worth $121,684,000 after purchasing an additional 1,080,049 shares during the period. Hsbc Holdings PLC grew its position in Arch Capital Group by 230.0% during the 1st quarter. Hsbc Holdings PLC now owns 1,286,178 shares of the insurance provider’s stock worth $123,354,000 after purchasing an additional 896,480 shares during the last quarter. Finally, Davis Asset Management L.P. acquired a new position in Arch Capital Group in the second quarter valued at $63,089,000. 89.07% of the stock is owned by institutional investors and hedge funds.

About Arch Capital Group

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.