Buckingham Research Lowers Arch Capital Group (NASDAQ:ACGL) to Neutral

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Arch Capital Group (NASDAQ:ACGL) was downgraded by stock analysts at Buckingham Research from a “buy” rating to a “neutral” rating in a report released on Friday, MarketBeat reports. They presently have a $38.00 target price on the insurance provider’s stock. Buckingham Research’s target price would suggest a potential upside of 1.12% from the company’s current price.

A number of other research analysts also recently issued reports on ACGL. Zacks Investment Research downgraded Great Portland Estates from a “hold” rating to a “sell” rating in a report on Tuesday, April 16th. Barclays reiterated a “buy” rating and issued a $65.00 price target on shares of Owens Corning in a report on Monday, July 1st. Morgan Stanley reiterated an “overweight” rating and issued a GBX 460 ($6.01) price target on shares of Sophos Group in a report on Friday, May 17th. Wells Fargo & Co reiterated a “buy” rating and issued a $157.00 price target on shares of Chubb in a report on Tuesday, April 30th. Finally, BidaskClub downgraded Xperi from a “sell” rating to a “strong sell” rating in a report on Wednesday, June 19th. One analyst has rated the stock with a sell rating, eight have given a hold rating and three have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $34.92.

ACGL opened at $37.58 on Friday. The business’s fifty day moving average price is $36.58. The stock has a market cap of $15.17 billion, a P/E ratio of 16.27, a P/E/G ratio of 1.39 and a beta of 0.67. Arch Capital Group has a 52 week low of $24.79 and a 52 week high of $38.85. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.54 and a quick ratio of 0.54.

Arch Capital Group (NASDAQ:ACGL) last announced its quarterly earnings results on Tuesday, April 30th. The insurance provider reported $0.67 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.62 by $0.05. Arch Capital Group had a return on equity of 10.24% and a net margin of 17.93%. The business had revenue of $1.38 billion for the quarter, compared to the consensus estimate of $1.28 billion. During the same period last year, the business posted $1.69 EPS. The business’s revenue was up 11.9% compared to the same quarter last year. Equities analysts anticipate that Arch Capital Group will post 2.72 EPS for the current year.

In other news, Vice Chairman John M. Pasquesi sold 299,741 shares of the firm’s stock in a transaction on Wednesday, May 29th. The stock was sold at an average price of $33.99, for a total value of $10,188,196.59. Following the completion of the sale, the insider now owns 2,832 shares of the company’s stock, valued at approximately $96,259.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Marc Grandisson sold 75,000 shares of the firm’s stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $33.92, for a total value of $2,544,000.00. Following the completion of the sale, the chief executive officer now directly owns 115,487 shares of the company’s stock, valued at approximately $3,917,319.04. The disclosure for this sale can be found here. Insiders sold a total of 498,343 shares of company stock valued at $16,927,360 in the last three months. Insiders own 5.20% of the company’s stock.

Institutional investors have recently bought and sold shares of the company. Quadrant Capital Group LLC boosted its position in shares of Arch Capital Group by 200.0% in the 1st quarter. Quadrant Capital Group LLC now owns 948 shares of the insurance provider’s stock worth $29,000 after purchasing an additional 632 shares in the last quarter. Optimum Investment Advisors boosted its position in shares of Arch Capital Group by 333.3% in the 1st quarter. Optimum Investment Advisors now owns 1,300 shares of the insurance provider’s stock worth $42,000 after purchasing an additional 1,000 shares in the last quarter. Wakefield Asset Management LLLP acquired a new stake in shares of Arch Capital Group in the 1st quarter worth $152,000. ETF Managers Group LLC boosted its position in shares of Arch Capital Group by 9.9% in the 1st quarter. ETF Managers Group LLC now owns 5,017 shares of the insurance provider’s stock worth $162,000 after purchasing an additional 451 shares in the last quarter. Finally, Neville Rodie & Shaw Inc. acquired a new stake in shares of Arch Capital Group in the 1st quarter worth $224,000. 80.07% of the stock is owned by hedge funds and other institutional investors.

About Arch Capital Group

Arch Capital Group Ltd., together with its subsidiaries, provides property, casualty, and mortgage insurance and reinsurance products worldwide. The company's Insurance segment offers primary and excess casualty coverages; loss sensitive primary casualty insurance programs; collateral protection, debt cancellation, and service contract reimbursement products; 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.

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Analyst Recommendations for Arch Capital Group (NASDAQ:ACGL)

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