Arch Capital Group (ACGL) Upgraded to “Hold” by BidaskClub

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

ACGL has been the topic of several other research reports. Morgan Stanley set a $22.00 price target on Arch Capital Group and gave the company a “hold” rating in a report on Wednesday. Bank of America raised their price target on Arch Capital Group from $28.00 to $30.00 and gave the company an “underperform” rating in a report on Wednesday, August 1st. Credit Suisse Group started coverage on Arch Capital Group in a report on Tuesday, August 7th. They issued a “neutral” rating and a $34.00 price target on the stock. Wells Fargo & Co reiterated a “hold” rating and issued a $30.00 price target on shares of Arch Capital Group in a report on Wednesday, October 31st. Finally, Zacks Investment Research cut Arch Capital Group from a “buy” rating to a “hold” rating in a report on Friday, October 5th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $26.70.

Shares of ACGL stock opened at $28.26 on Thursday. The company has a current ratio of 0.53, a quick ratio of 0.75 and a debt-to-equity ratio of 0.30. The firm has a market cap of $11.29 billion, a PE ratio of 26.41, a price-to-earnings-growth ratio of 1.13 and a beta of 0.66. Arch Capital Group has a 52 week low of $25.71 and a 52 week high of $32.37.

Arch Capital Group (NASDAQ:ACGL) last announced its earnings results on Tuesday, October 30th. The insurance provider reported $0.59 EPS for the quarter, topping the consensus estimate of $0.52 by $0.07. The company had revenue of $1.33 billion for the quarter, compared to analysts’ expectations of $1.19 billion. Arch Capital Group had a return on equity of 10.30% and a net margin of 15.15%. The business’s revenue for the quarter was up .6% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.13) earnings per share. As a group, equities analysts predict that Arch Capital Group will post 2.24 EPS for the current year.

In other Arch Capital Group news, Director John D. Vollaro sold 10,500 shares of the firm’s stock in a transaction dated Monday, September 10th. The stock was sold at an average price of $30.06, for a total transaction of $315,630.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Brian S. Posner bought 2,500 shares of Arch Capital Group stock in a transaction on Monday, November 5th. The shares were bought at an average price of $22.45 per share, for a total transaction of $56,125.00. Following the acquisition, the director now owns 2,500 shares of the company’s stock, valued at approximately $56,125. The disclosure for this purchase can be found here. In the last quarter, insiders sold 37,073 shares of company stock worth $1,113,916. 5.10% of the stock is owned by company insiders.

A number of institutional investors and hedge funds have recently modified their holdings of ACGL. Principal Financial Group Inc. boosted its holdings in Arch Capital Group by 22.8% during the first quarter. Principal Financial Group Inc. now owns 2,497,872 shares of the insurance provider’s stock worth $213,793,000 after buying an additional 463,341 shares during the last quarter. IFM Investors Pty Ltd raised its position in shares of Arch Capital Group by 455.3% during the second quarter. IFM Investors Pty Ltd now owns 14,648 shares of the insurance provider’s stock worth $388,000 after purchasing an additional 12,010 shares during the period. Xact Kapitalforvaltning AB raised its position in shares of Arch Capital Group by 200.0% during the second quarter. Xact Kapitalforvaltning AB now owns 38,604 shares of the insurance provider’s stock worth $1,021,000 after purchasing an additional 25,736 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund raised its position in shares of Arch Capital Group by 168.0% during the second quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 149,646 shares of the insurance provider’s stock worth $3,960,000 after purchasing an additional 93,799 shares during the period. Finally, NN Investment Partners Holdings N.V. raised its position in shares of Arch Capital Group by 200.0% during the second quarter. NN Investment Partners Holdings N.V. now owns 51,876 shares of the insurance provider’s stock worth $1,373,000 after purchasing an additional 34,584 shares during the period. Hedge funds and other institutional investors own 80.34% 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.

Featured Article: Can individual investors take part in an IPO?

Analyst Recommendations for Arch Capital Group (NASDAQ:ACGL)

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

Leave a Reply