StockNews.com Downgrades Arch Capital Group (NASDAQ:ACGL) to Hold

StockNews.com downgraded shares of Arch Capital Group (NASDAQ:ACGL) from a buy rating to a hold rating in a research note released on Thursday.

Other equities research analysts have also recently issued research reports about the company. Evercore ISI boosted their target price on Arch Capital Group from $104.00 to $107.00 and gave the company an “in-line” rating in a research note on Wednesday, October 9th. Jefferies Financial Group increased their target price on shares of Arch Capital Group from $114.00 to $134.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Barclays initiated coverage on shares of Arch Capital Group in a research report on Wednesday, September 4th. They issued an “equal weight” rating and a $120.00 target price for the company. Keefe, Bruyette & Woods increased their price objective on shares of Arch Capital Group from $120.00 to $121.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 7th. Finally, TD Cowen lifted their target price on Arch Capital Group from $116.00 to $138.00 and gave the company a “buy” rating in a research report on Friday, September 20th. Five equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, Arch Capital Group presently has a consensus rating of “Moderate Buy” and an average price target of $119.53.

Arch Capital Group Trading Down 1.6 %

Shares of NASDAQ:ACGL opened at $105.30 on Thursday. The firm has a market cap of $39.54 billion, a price-to-earnings ratio of 8.31, a PEG ratio of 2.00 and a beta of 0.59. Arch Capital Group has a 12 month low of $72.85 and a 12 month high of $116.47. The company’s fifty day simple moving average is $110.75 and its 200 day simple moving average is $102.39. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 0.16.

Arch Capital Group (NASDAQ:ACGL) last released its quarterly earnings results on Tuesday, July 30th. The insurance provider reported $2.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.21 by $0.36. The firm had revenue of $3.78 billion for the quarter, compared to the consensus estimate of $3.89 billion. Arch Capital Group had a return on equity of 21.42% and a net margin of 35.19%. The company’s revenue for the quarter was up 10.3% on a year-over-year basis. During the same quarter last year, the business posted $1.92 EPS. As a group, research analysts forecast that Arch Capital Group will post 9.06 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CFO Francois Morin sold 11,460 shares of the business’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $102.46, for a total value of $1,174,191.60. Following the completion of the sale, the chief financial officer now directly owns 221,779 shares in the company, valued at $22,723,476.34. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 4.20% of the stock is currently owned by insiders.

Institutional Trading of Arch Capital Group

Several hedge funds and other institutional investors have recently bought and sold shares of ACGL. First Trust Direct Indexing L.P. grew its position in shares of Arch Capital Group by 1.6% during the 3rd quarter. First Trust Direct Indexing L.P. now owns 17,124 shares of the insurance provider’s stock worth $1,916,000 after purchasing an additional 270 shares in the last quarter. Vanguard Capital Wealth Advisors acquired a new stake in Arch Capital Group during the third quarter worth approximately $217,000. abrdn plc increased its stake in Arch Capital Group by 6.2% during the 3rd quarter. abrdn plc now owns 183,122 shares of the insurance provider’s stock worth $20,456,000 after acquiring an additional 10,626 shares during the period. Autumn Glory Partners LLC acquired a new position in Arch Capital Group in the 3rd quarter valued at $410,000. Finally, Baker Tilly Wealth Management LLC lifted its position in shares of Arch Capital Group by 25.6% during the 3rd quarter. Baker Tilly Wealth Management LLC now owns 3,269 shares of the insurance provider’s stock valued at $366,000 after acquiring an additional 666 shares during the period. Institutional investors and hedge funds own 89.07% of the company’s stock.

Arch Capital Group Company Profile

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.