Arch Capital Group Ltd. (ACGL) Given Consensus Recommendation of “Hold” by Brokerages
Arch Capital Group Ltd. (NASDAQ:ACGL) has received a consensus rating of “Hold” from the twelve ratings firms that are currently covering the company, MarketBeat reports. Eight equities research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $98.13.
Several research firms have recently weighed in on ACGL. Keefe, Bruyette & Woods set a $100.00 target price on Arch Capital Group and gave the company a “hold” rating in a report on Friday, August 11th. Zacks Investment Research raised Arch Capital Group from a “sell” rating to a “hold” rating in a report on Thursday. BidaskClub raised Arch Capital Group from a “sell” rating to a “hold” rating in a report on Friday, June 30th. Wells Fargo & Company reissued a “hold” rating on shares of Arch Capital Group in a report on Wednesday, July 26th. Finally, UBS AG reduced their target price on Arch Capital Group from $114.00 to $110.00 and set a “buy” rating for the company in a report on Tuesday, September 19th.
Shares of Arch Capital Group (NASDAQ ACGL) traded down 0.04% on Thursday, reaching $98.55. The company had a trading volume of 367,691 shares. The company has a 50 day moving average of $97.50 and a 200-day moving average of $96.13. Arch Capital Group has a 52 week low of $76.47 and a 52 week high of $100.91. The company has a market capitalization of $13.25 billion, a P/E ratio of 17.92 and a beta of 0.66.
Arch Capital Group (NASDAQ:ACGL) last posted its earnings results on Wednesday, July 26th. The insurance provider reported $1.21 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.20 by $0.01. Arch Capital Group had a return on equity of 8.76% and a net margin of 15.65%. The business had revenue of $1.25 billion during the quarter, compared to the consensus estimate of $1.28 billion. During the same period in the previous year, the business earned $1.13 EPS. The business’s quarterly revenue was up 22.0% on a year-over-year basis. Analysts predict that Arch Capital Group will post $4.52 earnings per share for the current fiscal year.
In related news, SVP W Preston Hutchings sold 12,500 shares of the business’s stock in a transaction dated Wednesday, August 9th. The stock was sold at an average price of $96.81, for a total value of $1,210,125.00. Following the transaction, the senior vice president now owns 39,411 shares in the company, valued at approximately $3,815,378.91. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Constantine Iordanou sold 50,000 shares of the business’s stock in a transaction dated Thursday, August 3rd. The shares were sold at an average price of $97.88, for a total value of $4,894,000.00. Following the completion of the transaction, the chief executive officer now owns 171,901 shares in the company, valued at approximately $16,825,669.88. The disclosure for this sale can be found here. Insiders sold a total of 195,579 shares of company stock worth $18,756,983 in the last 90 days. 6.60% of the stock is currently owned by insiders.
A number of hedge funds have recently modified their holdings of ACGL. Citadel Advisors LLC increased its position in Arch Capital Group by 1,388.0% in the 2nd quarter. Citadel Advisors LLC now owns 2,088,015 shares of the insurance provider’s stock valued at $194,792,000 after acquiring an additional 1,947,691 shares during the period. Janus Henderson Group PLC increased its position in Arch Capital Group by 5,723.3% in the 2nd quarter. Janus Henderson Group PLC now owns 1,074,932 shares of the insurance provider’s stock valued at $100,280,000 after acquiring an additional 1,056,473 shares during the period. Vanguard Group Inc. increased its position in Arch Capital Group by 7.7% in the 2nd quarter. Vanguard Group Inc. now owns 10,331,707 shares of the insurance provider’s stock valued at $963,845,000 after acquiring an additional 742,855 shares during the period. FMR LLC increased its position in Arch Capital Group by 21.0% in the 2nd quarter. FMR LLC now owns 2,294,852 shares of the insurance provider’s stock valued at $214,087,000 after acquiring an additional 398,988 shares during the period. Finally, Goldman Sachs Group Inc. increased its position in Arch Capital Group by 32.6% in the 2nd quarter. Goldman Sachs Group Inc. now owns 1,609,474 shares of the insurance provider’s stock valued at $150,148,000 after acquiring an additional 395,629 shares during the period. Hedge funds and other institutional investors own 76.91% of the company’s stock.
Arch Capital Group Company Profile
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.
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