Arch Capital Group (NASDAQ:ACGL) was downgraded by equities research analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a report issued on Thursday.
ACGL has been the topic of several other research reports. Wells Fargo & Co set a $100.00 price target on shares of Arch Capital Group and gave the company a “hold” rating in a report on Thursday, October 26th. Zacks Investment Research raised shares of Arch Capital Group from a “sell” rating to a “hold” rating in a report on Wednesday, October 25th. UBS Group reaffirmed a “buy” rating on shares of Arch Capital Group in a report on Monday, October 30th. Royal Bank of Canada reaffirmed a “buy” rating and set a $113.00 price target on shares of Arch Capital Group in a report on Friday, October 27th. Finally, Barclays lifted their price target on shares of Arch Capital Group from $91.00 to $95.00 and gave the company an “equal weight” rating in a report on Monday, October 16th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the company. Arch Capital Group currently has a consensus rating of “Hold” and an average price target of $100.80.
Shares of Arch Capital Group (NASDAQ ACGL) traded up $0.21 during midday trading on Thursday, reaching $89.71. 289,861 shares of the company traded hands, compared to its average volume of 488,608. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.83 and a quick ratio of 0.83. The company has a market capitalization of $11,770.00, a price-to-earnings ratio of 29.03, a price-to-earnings-growth ratio of 2.59 and a beta of 0.67. Arch Capital Group has a 12 month low of $84.21 and a 12 month high of $102.60.
In other news, CFO Mark Donald Lyons sold 5,500 shares of the business’s stock in a transaction on Monday, December 11th. The shares were sold at an average price of $92.04, for a total value of $506,220.00. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Nicolas Papadopoulo sold 54,554 shares of the business’s stock in a transaction on Tuesday, November 7th. The stock was sold at an average price of $95.53, for a total transaction of $5,211,543.62. Following the completion of the transaction, the chief executive officer now directly owns 147,481 shares in the company, valued at approximately $14,088,859.93. The disclosure for this sale can be found here. Insiders sold 65,975 shares of company stock worth $6,256,989 in the last three months. Insiders own 6.60% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in the company. Acrospire Investment Management LLC bought a new position in Arch Capital Group during the second quarter valued at $112,000. Vantage Investment Advisors LLC grew its holdings in shares of Arch Capital Group by 1,372.9% in the second quarter. Vantage Investment Advisors LLC now owns 1,252 shares of the insurance provider’s stock worth $117,000 after purchasing an additional 1,167 shares during the last quarter. Parallel Advisors LLC grew its holdings in shares of Arch Capital Group by 0.4% in the second quarter. Parallel Advisors LLC now owns 1,356 shares of the insurance provider’s stock worth $132,000 after purchasing an additional 6 shares during the last quarter. Toronto Dominion Bank grew its holdings in shares of Arch Capital Group by 18.8% in the second quarter. Toronto Dominion Bank now owns 1,596 shares of the insurance provider’s stock worth $149,000 after purchasing an additional 253 shares during the last quarter. Finally, Pacer Advisors Inc. bought a new position in shares of Arch Capital Group in the second quarter worth about $197,000. 79.41% of the stock is currently owned by hedge funds and other institutional investors.
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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.
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