Arch Capital Group Ltd. (NASDAQ:ACGL) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Monday. The firm currently has a $90.00 target price on the stock. Zacks Investment Research’s price target would suggest a potential upside of 13.49% from the stock’s current price.
According to Zacks, “Arch Capital Group Ltd. is a diversified financial services holding company, with an emphasis on the insurance sector. The Arch Capital Group is engaged in a range of insurance and financial service activities through subsidiaries comprising Arch Insurance Services and the ownership of intermediaries, underwriting agencies, service providers and insurance companies. “
Other analysts have also issued research reports about the company. MKM Partners lifted their price objective on Arch Capital Group from $85.00 to $95.00 and gave the stock a “buy” rating in a report on Tuesday, August 30th. Barclays PLC lowered Arch Capital Group from an “overweight” rating to an “equal weight” rating and set a $85.00 price objective for the company. in a report on Thursday, September 15th. Deutsche Bank AG lifted their price objective on Arch Capital Group from $72.00 to $74.00 and gave the stock a “hold” rating in a report on Friday, July 29th. Keefe, Bruyette & Woods boosted their price target on Arch Capital Group from $76.00 to $78.00 and gave the company a “market perform” rating in a report on Friday, August 5th. Finally, Goldman Sachs Group Inc. raised Arch Capital Group from a “sell” rating to a “neutral” rating and boosted their price target for the company from $66.00 to $79.00 in a report on Wednesday, September 7th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and four have assigned a buy rating to the stock. Arch Capital Group has an average rating of “Hold” and an average price target of $80.46.
Shares of Arch Capital Group (NASDAQ:ACGL) opened at 79.30 on Monday. The stock has a market cap of $9.56 billion, a PE ratio of 20.50 and a beta of 0.57. Arch Capital Group has a 12-month low of $59.83 and a 12-month high of $85.16. The firm has a 50 day moving average price of $80.17 and a 200 day moving average price of $74.05.
Arch Capital Group (NASDAQ:ACGL) last issued its quarterly earnings data on Wednesday, July 27th. The company reported $1.13 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.96 by $0.17. Arch Capital Group had a return on equity of 8.32% and a net margin of 12.27%. During the same period last year, the company earned $1.16 earnings per share. On average, equities analysts expect that Arch Capital Group will post $4.36 EPS for the current year.
In other Arch Capital Group news, CFO Mark Donald Lyons sold 4,812 shares of the company’s stock in a transaction that occurred on Tuesday, August 30th. The stock was sold at an average price of $80.34, for a total transaction of $386,596.08. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Constantine Iordanou sold 50,000 shares of the company’s stock in a transaction that occurred on Monday, August 29th. The shares were sold at an average price of $79.50, for a total value of $3,975,000.00. Following the sale, the chief executive officer now owns 243,030 shares in the company, valued at $19,320,885. The disclosure for this sale can be found here. 6.30% of the stock is owned by corporate insiders.
A number of large investors have recently modified their holdings of the stock. Emerald Acquisition Ltd. bought a new stake in shares of Arch Capital Group during the second quarter worth about $50,798,000. BlackRock Fund Advisors increased its stake in shares of Arch Capital Group by 9.9% in the second quarter. BlackRock Fund Advisors now owns 3,108,794 shares of the company’s stock worth $223,833,000 after buying an additional 281,260 shares during the period. FMR LLC increased its stake in shares of Arch Capital Group by 16.3% in the second quarter. FMR LLC now owns 1,809,581 shares of the company’s stock worth $130,290,000 after buying an additional 252,979 shares during the period. Vanguard Group Inc. increased its stake in shares of Arch Capital Group by 2.5% in the second quarter. Vanguard Group Inc. now owns 8,579,022 shares of the company’s stock worth $617,689,000 after buying an additional 212,635 shares during the period. Finally, BlackRock Institutional Trust Company N.A. increased its stake in shares of Arch Capital Group by 3.7% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 3,659,783 shares of the company’s stock worth $263,504,000 after buying an additional 129,935 shares during the period. Institutional investors and hedge funds own 77.46% of the company’s stock.
About Arch Capital Group
Arch Capital Group Ltd. writes insurance and reinsurance on worldwide basis. The Company operates in five segments: insurance, reinsurance, mortgage, other and corporate. The Company’s insurance, reinsurance and mortgage segments are underwriting segments. 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, which includes alternative market risks and excess workers’ compensation.
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