Arch Capital Group (NASDAQ:ACGL) Price Target Cut to $118.00

Arch Capital Group (NASDAQ:ACGLGet Free Report) had its price target reduced by equities research analysts at Bank of America from $119.00 to $118.00 in a note issued to investors on Thursday, Benzinga reports. The brokerage presently has a “buy” rating on the insurance provider’s stock. Bank of America‘s price objective would suggest a potential upside of 22.28% from the company’s previous close.

A number of other research analysts also recently weighed in on ACGL. StockNews.com upgraded Arch Capital Group from a “hold” rating to a “buy” rating in a report on Thursday, July 4th. JMP Securities increased their price objective on Arch Capital Group from $100.00 to $110.00 and gave the stock a “market outperform” rating in a report on Tuesday, April 30th. Wells Fargo & Company boosted their target price on shares of Arch Capital Group from $109.00 to $110.00 and gave the company an “overweight” rating in a report on Wednesday, May 1st. Roth Mkm reiterated a “buy” rating and issued a $110.00 price target on shares of Arch Capital Group in a research note on Tuesday, April 30th. Finally, Evercore ISI lifted their price target on shares of Arch Capital Group from $98.00 to $100.00 and gave the company an “in-line” rating in a research report on Tuesday, April 30th. Four investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $102.87.

Read Our Latest Report on ACGL

Arch Capital Group Price Performance

Shares of Arch Capital Group stock opened at $96.50 on Thursday. The company has a market cap of $36.23 billion, a PE ratio of 7.62, a P/E/G ratio of 1.67 and a beta of 0.58. The business has a 50 day moving average of $100.00 and a 200 day moving average of $90.94. Arch Capital Group has a 52 week low of $72.85 and a 52 week high of $103.79. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 0.17.

Arch Capital Group (NASDAQ:ACGLGet Free Report) last posted its earnings results on Monday, April 29th. The insurance provider reported $2.45 EPS for the quarter, topping the consensus estimate of $2.06 by $0.39. Arch Capital Group had a net margin of 33.65% and a return on equity of 21.85%. The firm had revenue of $4.09 billion during the quarter, compared to analysts’ expectations of $3.77 billion. During the same period last year, the company posted $1.73 EPS. The company’s quarterly revenue was up 19.3% compared to the same quarter last year. As a group, equities research analysts forecast that Arch Capital Group will post 8.55 earnings per share for the current year.

Insider Transactions at Arch Capital Group

In other Arch Capital Group news, CEO David Gansberg sold 10,000 shares of the company’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $96.64, for a total transaction of $966,400.00. Following the transaction, the chief executive officer now owns 228,035 shares in the company, valued at approximately $22,037,302.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 4.20% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ACGL. Davis Asset Management L.P. grew its position in Arch Capital Group by 441.7% in the 4th quarter. Davis Asset Management L.P. now owns 6,500,000 shares of the insurance provider’s stock worth $482,755,000 after purchasing an additional 5,300,000 shares during the period. Norges Bank bought a new stake in shares of Arch Capital Group in the fourth quarter worth $309,496,000. Capital International Investors increased its position in Arch Capital Group by 61.1% during the first quarter. Capital International Investors now owns 4,112,577 shares of the insurance provider’s stock valued at $380,167,000 after acquiring an additional 1,560,173 shares during the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its holdings in Arch Capital Group by 61.6% in the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 3,191,282 shares of the insurance provider’s stock valued at $237,017,000 after acquiring an additional 1,216,080 shares during the period. Finally, Principal Financial Group Inc. boosted its position in Arch Capital Group by 11.4% in the first quarter. Principal Financial Group Inc. now owns 6,800,236 shares of the insurance provider’s stock worth $628,614,000 after purchasing an additional 693,608 shares during the last quarter. Institutional investors own 89.07% of the company’s stock.

Arch Capital Group Company Profile

(Get Free Report)

Arch Capital Group Ltd., together with its subsidiaries, provides insurance, reinsurance, and mortgage insurance products worldwide. The company's Insurance segment offers primary and excess casualty coverages; loss sensitive primary casualty insurance programs; 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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Analyst Recommendations for Arch Capital Group (NASDAQ:ACGL)

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