Arch Capital Group (NASDAQ:ACGL) had its price target raised by investment analysts at Buckingham Research from $38.00 to $40.00 in a report issued on Thursday, BenzingaRatingsTable reports. The brokerage presently has a “neutral” rating on the insurance provider’s stock. Buckingham Research’s price target would suggest a potential downside of 1.53% from the company’s previous close.
A number of other research analysts have also issued reports on ACGL. ValuEngine lowered shares of Arch Capital Group from a “sell” rating to a “strong sell” rating in a research note on Thursday, August 1st. MKM Partners boosted their target price on shares of Arch Capital Group from $40.00 to $45.00 and gave the company a “buy” rating in a research note on Tuesday, July 30th. Morgan Stanley set a $32.00 target price on shares of Arch Capital Group and gave the company a “hold” rating in a research note on Friday, May 17th. BidaskClub raised shares of Arch Capital Group from a “hold” rating to a “buy” rating in a research note on Wednesday, August 7th. Finally, UBS Group boosted their target price on shares of Arch Capital Group from $39.00 to $45.00 and gave the company a “buy” rating in a research note on Thursday, August 29th. One analyst has rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $39.04.
Shares of NASDAQ ACGL traded up $0.05 during midday trading on Thursday, hitting $40.62. The company’s stock had a trading volume of 21,822 shares, compared to its average volume of 1,189,336. Arch Capital Group has a 1-year low of $24.79 and a 1-year high of $41.57. The firm’s fifty day moving average price is $39.39 and its 200-day moving average price is $35.58. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.54 and a current ratio of 0.54. The firm has a market cap of $16.74 billion, a P/E ratio of 18.47, a P/E/G ratio of 1.47 and a beta of 0.64.
Arch Capital Group (NASDAQ:ACGL) last posted its quarterly earnings results on Monday, July 29th. The insurance provider reported $0.77 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.69 by $0.08. Arch Capital Group had a net margin of 20.48% and a return on equity of 10.58%. The business had revenue of $1.45 billion during the quarter, compared to analyst estimates of $1.24 billion. During the same period in the previous year, the business posted $0.59 EPS. The company’s quarterly revenue was up 11.2% on a year-over-year basis. As a group, research analysts predict that Arch Capital Group will post 2.82 earnings per share for the current fiscal year.
In other Arch Capital Group news, CEO Maamoun Rajeh sold 20,000 shares of the business’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $39.08, for a total transaction of $781,600.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Marc Grandisson sold 78,300 shares of the business’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $40.05, for a total transaction of $3,135,915.00. Following the sale, the chief executive officer now owns 92,309 shares in the company, valued at $3,696,975.45. The disclosure for this sale can be found here. Insiders have sold a total of 141,300 shares of company stock valued at $5,619,725 over the last three months. 5.20% of the stock is currently owned by company insiders.
Hedge funds have recently added to or reduced their stakes in the business. CSat Investment Advisory L.P. bought a new stake in shares of Arch Capital Group during the 2nd quarter worth about $26,000. Advisory Services Network LLC bought a new stake in shares of Arch Capital Group in the 2nd quarter worth approximately $71,000. Capital Bank & Trust Co raised its holdings in shares of Arch Capital Group by 74.4% in the 2nd quarter. Capital Bank & Trust Co now owns 1,915 shares of the insurance provider’s stock worth $71,000 after purchasing an additional 817 shares in the last quarter. ETF Managers Group LLC raised its holdings 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, Beacon Investment Advisory Services Inc. bought a new stake in shares of Arch Capital Group in the 2nd quarter worth approximately $200,000. Institutional investors own 79.65% of the company’s stock.
Arch Capital Group Company Profile
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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