Arch Capital Group Ltd. (NASDAQ:ACGL) had its price objective upped by Barclays PLC from $91.00 to $95.00 in a research note issued on Monday. The brokerage presently has an “equal weight” rating on the insurance provider’s stock. Barclays PLC’s target price would suggest a potential downside of 4.66% from the stock’s previous close.
Several other analysts have also recently weighed in on the stock. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $95.00 price objective on shares of Arch Capital Group in a research note on Tuesday, July 4th. Zacks Investment Research cut shares of Arch Capital Group from a “hold” rating to a “sell” rating in a research note on Tuesday, September 26th. BidaskClub raised shares of Arch Capital Group from a “sell” rating to a “hold” rating in a research note on Friday, June 30th. Buckingham Research assumed coverage on shares of Arch Capital Group in a research note on Monday, September 11th. They set a “buy” rating and a $106.00 price target on the stock. Finally, UBS AG decreased their price target on shares of Arch Capital Group from $114.00 to $110.00 and set a “buy” rating on the stock in a research note on Tuesday, September 19th. Eight equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $99.25.
Shares of Arch Capital Group (NASDAQ:ACGL) opened at 99.59 on Monday. The company’s 50-day moving average price is $97.59 and its 200 day moving average price is $96.21. Arch Capital Group has a one year low of $76.47 and a one year high of $100.91. The company has a market cap of $13.39 billion, a PE ratio of 18.11 and a beta of 0.66.
Arch Capital Group (NASDAQ:ACGL) last issued its quarterly earnings data on Wednesday, July 26th. The insurance provider reported $1.21 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.20 by $0.01. The firm had revenue of $1.25 billion for the quarter, compared to analysts’ expectations of $1.28 billion. Arch Capital Group had a net margin of 15.65% and a return on equity of 8.76%. The company’s quarterly revenue was up 22.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.13 earnings per share. Equities analysts forecast that Arch Capital Group will post $3.89 EPS for the current fiscal year.
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In other Arch Capital Group news, SVP W Preston Hutchings sold 12,500 shares of the firm’s stock in a transaction that occurred on Wednesday, August 9th. The shares were sold at an average price of $96.81, for a total value of $1,210,125.00. Following the transaction, the senior vice president now directly owns 39,411 shares of the company’s stock, valued at $3,815,378.91. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Constantine Iordanou sold 50,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 3rd. The shares were sold at an average price of $97.88, for a total transaction of $4,894,000.00. Following the completion of the transaction, the chief executive officer now directly owns 171,901 shares in the company, valued at $16,825,669.88. The disclosure for this sale can be found here. Insiders have sold 195,579 shares of company stock worth $18,756,983 over the last three months. 6.60% of the stock is owned by insiders.
A number of hedge funds have recently made changes to their positions in the business. Parallel Advisors LLC boosted its stake in Arch Capital Group by 0.4% in the second quarter. Parallel Advisors LLC now owns 1,356 shares of the insurance provider’s stock valued at $132,000 after acquiring an additional 6 shares during the last quarter. Capital One National Association boosted its stake in Arch Capital Group by 0.3% in the second quarter. Capital One National Association now owns 2,263 shares of the insurance provider’s stock valued at $211,000 after acquiring an additional 7 shares during the last quarter. Cambridge Investment Research Advisors Inc. boosted its stake in Arch Capital Group by 0.8% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 2,618 shares of the insurance provider’s stock valued at $248,000 after acquiring an additional 22 shares during the last quarter. Gateway Investment Advisers LLC boosted its stake in Arch Capital Group by 0.9% in the second quarter. Gateway Investment Advisers LLC now owns 2,855 shares of the insurance provider’s stock valued at $266,000 after acquiring an additional 26 shares during the last quarter. Finally, CIBC Asset Management Inc boosted its stake in Arch Capital Group by 0.7% in the second quarter. CIBC Asset Management Inc now owns 10,799 shares of the insurance provider’s stock valued at $1,007,000 after acquiring an additional 78 shares during the last quarter. 76.89% of the stock is currently owned by hedge funds and other institutional investors.
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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