Arch Capital Group (NASDAQ:ACGL) Price Target Cut to $136.00 by Analysts at Bank of America

Arch Capital Group (NASDAQ:ACGL) had its price objective cut by Bank of America from $143.00 to $136.00 in a report issued on Friday morning,Benzinga reports. They currently have a buy rating on the insurance provider’s stock.

A number of other analysts also recently issued reports on ACGL. JPMorgan Chase & Co. raised their price target on Arch Capital Group from $108.00 to $110.00 and gave the stock a “neutral” rating in a research report on Thursday, October 10th. Barclays began coverage on Arch Capital Group in a research note on Wednesday, September 4th. They set an “equal weight” rating and a $120.00 price target on the stock. JMP Securities lifted their target price on Arch Capital Group from $115.00 to $125.00 and gave the company a “market outperform” rating in a research note on Tuesday, October 15th. StockNews.com lowered Arch Capital Group from a “buy” rating to a “hold” rating in a research note on Thursday, October 24th. Finally, Wells Fargo & Company cut their target price on Arch Capital Group from $126.00 to $118.00 and set an “overweight” rating on the stock in a research note on Monday, November 4th. Six analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Arch Capital Group currently has an average rating of “Moderate Buy” and a consensus target price of $118.94.

Arch Capital Group Trading Up 0.1 %

Shares of NASDAQ:ACGL opened at $96.98 on Friday. The stock has a 50 day moving average of $107.74 and a 200 day moving average of $103.38. The company has a market cap of $36.49 billion, a PE ratio of 6.51, a price-to-earnings-growth ratio of 1.47 and a beta of 0.61. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 0.17. Arch Capital Group has a 12-month low of $72.85 and a 12-month high of $116.47.

Arch Capital Group (NASDAQ:ACGL) last posted its quarterly earnings results on Wednesday, October 30th. The insurance provider reported $1.99 EPS for the quarter, topping analysts’ consensus estimates of $1.94 by $0.05. The company had revenue of $4.72 billion for the quarter, compared to analysts’ expectations of $4.05 billion. Arch Capital Group had a return on equity of 18.94% and a net margin of 33.86%. During the same period in the previous year, the firm earned $2.31 EPS. As a group, equities research analysts expect that Arch Capital Group will post 9.01 EPS for the current year.

Arch Capital Group Announces Dividend

The firm also recently disclosed a special dividend, which will be paid on Wednesday, December 4th. Stockholders of record on Monday, November 18th will be given a $5.00 dividend. The ex-dividend date of this dividend is Monday, November 18th.

Institutional Trading of Arch Capital Group

Several large investors have recently made changes to their positions in ACGL. Quantbot Technologies LP acquired a new position in Arch Capital Group during the third quarter worth $25,000. UMB Bank n.a. purchased a new position in shares of Arch Capital Group in the 2nd quarter valued at about $30,000. Baldwin Brothers LLC MA increased its holdings in shares of Arch Capital Group by 50.7% in the 2nd quarter. Baldwin Brothers LLC MA now owns 309 shares of the insurance provider’s stock valued at $31,000 after acquiring an additional 104 shares during the last quarter. Rothschild Investment LLC acquired a new stake in shares of Arch Capital Group in the 2nd quarter valued at about $35,000. Finally, LRI Investments LLC acquired a new stake in shares of Arch Capital Group in the 1st quarter valued at about $40,000. 89.07% of the stock is currently owned by hedge funds and other institutional investors.

About Arch Capital Group

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.