Arch Capital Group (NASDAQ:ACGL) Stock Gets Price Target Cut from Keefe, Bruyette & Woods

Arch Capital Group (NASDAQ:ACGL) had its price objective reduced by Keefe, Bruyette & Woods from $99.00 to $95.00 in a research note issued to investors on Monday morning,Benzinga reports. They currently have a market perform rating on the insurance provider’s stock.

Several other research firms also recently weighed in on ACGL. Atlantic Securities set a $126.00 price objective on Arch Capital Group in a report on Wednesday, July 15th. Cantor Fitzgerald cut their target price on shares of Arch Capital Group from $110.00 to $105.00 and set a “neutral” rating on the stock in a report on Wednesday, October 7th. UBS Group reiterated a “buy” rating and issued a $120.00 price target (up from $114.00) on shares of Arch Capital Group in a research report on Wednesday, July 8th. Weiss Ratings upgraded shares of Arch Capital Group from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, October 9th. Finally, Wells Fargo & Company reiterated an “overweight” rating and set a $107.00 price target (down from $117.00) on shares of Arch Capital Group in a research note on Monday. Six research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $108.39.

Arch Capital Group Stock Up 0.8%

Shares of NASDAQ ACGL opened at $97.60 on Monday. The stock has a market cap of $33.30 billion, a PE ratio of 7.63, a price-to-earnings-growth ratio of 2.92 and a beta of 0.28. The company has a quick ratio of 0.57, a current ratio of 0.57 and a debt-to-equity ratio of 0.23. Arch Capital Group has a 52-week low of $82.44 and a 52-week high of $107.08. The business has a 50-day moving average price of $97.11 and a 200 day moving average price of $96.64.

Arch Capital Group (NASDAQ:ACGL) last released its quarterly earnings results on Tuesday, July 28th. The insurance provider reported $2.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.47 by $0.09. The firm had revenue of $4.67 billion for the quarter, compared to the consensus estimate of $4.36 billion. Arch Capital Group had a return on equity of 17.06% and a net margin of 24.40%. During the same quarter last year, the business posted $2.58 EPS. Equities research analysts forecast that Arch Capital Group will post 9.67 earnings per share for the current year.

Insider Transactions at Arch Capital Group

In other Arch Capital Group news, CFO Francois Morin sold 11,010 shares of the company’s stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $99.32, for a total transaction of $1,093,513.20. Following the completion of the sale, the chief financial officer directly owned 184,826 shares of the company’s stock, valued at $18,356,918.32. This represents a 5.62% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 3.30% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Horizons Wealth Management acquired a new stake in shares of Arch Capital Group during the third quarter worth $25,000. Torren Management LLC increased its stake in Arch Capital Group by 66.9% in the 2nd quarter. Torren Management LLC now owns 292 shares of the insurance provider’s stock valued at $28,000 after buying an additional 117 shares during the period. Continuum Advisory LLC acquired a new position in Arch Capital Group in the 2nd quarter valued at $46,000. MidFirst Bank acquired a new position in Arch Capital Group in the 4th quarter valued at $46,000. Finally, Allied Private Wealth LLC purchased a new position in Arch Capital Group during the 2nd quarter worth $69,000. 89.07% of the stock is currently owned by hedge funds and other institutional investors.

Arch Capital Group Company Profile

Arch Capital Group Ltd. is a Bermuda-based insurance, reinsurance and mortgage insurance company whose shares trade on the Nasdaq under the symbol ACGL. The company was established in 1995 and has developed into a global provider of specialty risk-management products and services.

Through its insurance operations, Arch offers property, casualty, specialty, and accident and health coverage to businesses and other policyholders. Its reinsurance operations provide coverage and risk-transfer solutions to insurance companies across a range of property and casualty lines.