Wells Fargo & Company Cuts Arch Capital Group (NASDAQ:ACGL) Price Target to $109.00

Arch Capital Group (NASDAQ:ACGL) had its target price lowered by Wells Fargo & Company from $118.00 to $109.00 in a report published on Tuesday morning,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the insurance provider’s stock.

A number of other analysts have also issued reports on the company. StockNews.com lowered Arch Capital Group from a “buy” rating to a “hold” rating in a research note on Thursday, October 24th. Barclays initiated coverage on Arch Capital Group in a research note on Wednesday, September 4th. They issued an “equal weight” rating and a $120.00 price objective on the stock. Roth Mkm lifted their price objective on Arch Capital Group from $110.00 to $125.00 and gave the company a “buy” rating in a research note on Friday, August 23rd. Bank of America reduced their price target on Arch Capital Group from $143.00 to $136.00 and set a “buy” rating on the stock in a research report on Friday, November 15th. Finally, TD Cowen boosted their price target on Arch Capital Group from $116.00 to $138.00 and gave the stock a “buy” rating in a research report on Friday, September 20th. Six equities research 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 presently has an average rating of “Moderate Buy” and an average price target of $118.38.

Arch Capital Group Price Performance

Arch Capital Group stock opened at $98.63 on Tuesday. Arch Capital Group has a one year low of $72.85 and a one year high of $116.47. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.58 and a current ratio of 0.58. The business has a fifty day moving average of $106.91 and a two-hundred day moving average of $103.30. The company has a market cap of $37.11 billion, a P/E ratio of 6.62, a price-to-earnings-growth ratio of 1.52 and a beta of 0.61.

Arch Capital Group (NASDAQ:ACGL) last announced its quarterly earnings results on Wednesday, October 30th. The insurance provider reported $1.99 earnings per share for the quarter, beating analysts’ consensus estimates of $1.94 by $0.05. The business had revenue of $4.72 billion during 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 quarter last year, the business posted $2.31 earnings per share. As a group, analysts predict that Arch Capital Group will post 9.01 earnings per share for the current fiscal year.

Arch Capital Group Dividend Announcement

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

Hedge Funds Weigh In On Arch Capital Group

A number of hedge funds and other institutional investors have recently modified their holdings of ACGL. State Street Corp lifted its stake in Arch Capital Group by 1.1% in the 3rd quarter. State Street Corp now owns 16,587,446 shares of the insurance provider’s stock worth $1,855,803,000 after acquiring an additional 172,628 shares in the last quarter. Geode Capital Management LLC lifted its stake in Arch Capital Group by 2.4% in the 3rd quarter. Geode Capital Management LLC now owns 10,830,263 shares of the insurance provider’s stock worth $1,208,307,000 after acquiring an additional 253,648 shares in the last quarter. Principal Financial Group Inc. raised its stake in shares of Arch Capital Group by 4.8% during the 3rd quarter. Principal Financial Group Inc. now owns 7,438,738 shares of the insurance provider’s stock worth $832,246,000 after purchasing an additional 337,786 shares in the last quarter. Allspring Global Investments Holdings LLC raised its stake in shares of Arch Capital Group by 1.0% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 5,124,251 shares of the insurance provider’s stock worth $573,301,000 after purchasing an additional 49,426 shares in the last quarter. Finally, Capital International Investors raised its stake in shares of Arch Capital Group by 61.1% during the 1st quarter. Capital International Investors now owns 4,112,577 shares of the insurance provider’s stock worth $380,167,000 after purchasing an additional 1,560,173 shares in the last quarter. Institutional investors and hedge funds own 89.07% of the company’s stock.

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.