Arch Capital Group (ACGL) Downgraded to “Sell” at BidaskClub

Arch Capital Group (NASDAQ:ACGL) was downgraded by research analysts at BidaskClub from a “hold” rating to a “sell” rating in a research note issued to investors on Thursday.

A number of other equities analysts have also recently weighed in on ACGL. Keefe, Bruyette & Woods set a $100.00 price target on shares of Arch Capital Group and gave the stock a “hold” rating in a research report on Friday, August 11th. Buckingham Research initiated coverage on shares of Arch Capital Group in a research report on Monday, September 11th. They set a “buy” rating and a $106.00 price target on the stock. UBS reduced their price target on shares of Arch Capital Group from $114.00 to $110.00 and set a “buy” rating on the stock in a research report on Tuesday, September 19th. Zacks Investment Research cut shares of Arch Capital Group from a “hold” rating to a “sell” rating in a research report on Tuesday, September 26th. Finally, Barclays lifted their price target on shares of Arch Capital Group from $91.00 to $95.00 and gave the stock an “equal weight” rating in a research report on Monday, October 16th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $100.80.

Arch Capital Group (NASDAQ ACGL) opened at $92.86 on Thursday. The firm has a market cap of $12,253.73, a price-to-earnings ratio of 31.52, a PEG ratio of 2.64 and a beta of 0.67. Arch Capital Group has a 52-week low of $84.04 and a 52-week high of $102.60. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.49.

Arch Capital Group (NASDAQ:ACGL) last announced its quarterly earnings results on Wednesday, October 25th. The insurance provider reported ($0.79) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.59) by ($0.20). The firm had revenue of $1.33 billion for the quarter, compared to the consensus estimate of $1.16 billion. Arch Capital Group had a return on equity of 5.57% and a net margin of 9.44%. The company’s revenue for the quarter was up 30.7% compared to the same quarter last year. During the same period in the prior year, the business earned $1.14 earnings per share. research analysts anticipate that Arch Capital Group will post 3.23 EPS for the current year.

In other Arch Capital Group news, CEO Nicolas Papadopoulo sold 80,694 shares of Arch Capital Group stock in a transaction on Friday, September 8th. The shares were sold at an average price of $93.80, for a total value of $7,569,097.20. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Mark Donald Lyons sold 9,967 shares of Arch Capital Group stock in a transaction on Tuesday, September 12th. The shares were sold at an average price of $97.31, for a total transaction of $969,888.77. The disclosure for this sale can be found here. Insiders sold a total of 184,133 shares of company stock worth $17,534,527 over the last ninety days. 6.60% of the stock is currently owned by insiders.

Hedge funds have recently modified their holdings of the business. Swiss National Bank increased its stake in Arch Capital Group by 8.0% in the 2nd quarter. Swiss National Bank now owns 842,768 shares of the insurance provider’s stock valued at $78,622,000 after buying an additional 62,700 shares during the last quarter. Delta Lloyd Asset Management N.V. acquired a new stake in Arch Capital Group in the 2nd quarter valued at $1,232,000. Marshall Wace North America L.P. increased its stake in Arch Capital Group by 84.7% in the 2nd quarter. Marshall Wace North America L.P. now owns 9,724 shares of the insurance provider’s stock valued at $904,000 after buying an additional 4,459 shares during the last quarter. OMERS ADMINISTRATION Corp acquired a new stake in Arch Capital Group in the 2nd quarter valued at $2,230,000. Finally, Schwab Charles Investment Management Inc. increased its stake in Arch Capital Group by 5.1% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 401,129 shares of the insurance provider’s stock valued at $37,422,000 after buying an additional 19,287 shares during the last quarter. Hedge funds and other institutional investors own 79.50% of the company’s stock.

COPYRIGHT VIOLATION NOTICE: “Arch Capital Group (ACGL) Downgraded to “Sell” at BidaskClub” was reported by Ticker Report and is the property of of Ticker Report. If you are accessing this story on another website, it was illegally copied and republished in violation of US & international copyright & trademark laws. The legal version of this story can be accessed at https://www.tickerreport.com/banking-finance/3078756/arch-capital-group-acgl-downgraded-to-sell-at-bidaskclub.html.

About Arch Capital Group

Arch Capital Group Ltd. provides insurance, reinsurance and mortgage insurance. The Company provides a range of property, casualty and mortgage insurance and reinsurance lines. The Company operates in five segments: insurance, reinsurance, mortgage, other and corporate. 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.

Analyst Recommendations for Arch Capital Group (NASDAQ:ACGL)

Receive News & Ratings for Arch Capital Group Ltd. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Arch Capital Group Ltd. and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

How to Trade on Forex – 8 Steps for Beginners
How to Trade on Forex – 8 Steps for Beginners
Super Nintendo World Theme Park Officially Starts Construction
Super Nintendo World Theme Park Officially Starts Construction
Amazon and Apple Join Foxconn to Secure Chip Business of Toshiba
Amazon and Apple Join Foxconn to Secure Chip Business of Toshiba
Camera Zooms In and Can Recognize Faces
Camera Zooms In and Can Recognize Faces
Netflix Could See 150 Million Worldwide Subscribers
Netflix Could See 150 Million Worldwide Subscribers
LeEco Cutting Over 70% of Staff in U.S. Amidst Pull Back
LeEco Cutting Over 70% of Staff in U.S. Amidst Pull Back


Leave a Reply

© 2006-2017 Ticker Report. Google+.