Wells Fargo set a $96.00 target price on Arch Capital Group (NASDAQ:ACGL) in a report issued on Wednesday, March 14th. The firm currently has a hold rating on the insurance provider’s stock.
Other equities analysts also recently issued reports about the stock. Keefe, Bruyette & Woods reaffirmed a hold rating and set a $101.00 price objective on shares of Arch Capital Group in a research note on Wednesday, December 6th. BidaskClub downgraded shares of Arch Capital Group from a hold rating to a sell rating in a research note on Thursday, December 7th. Finally, ValuEngine downgraded shares of Arch Capital Group from a hold rating to a sell rating in a research note on Thursday, March 1st. One research analyst has rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and an average price target of $102.43.
Shares of NASDAQ ACGL traded down $0.99 during mid-day trading on Wednesday, reaching $85.41. 371,394 shares of the company were exchanged, compared to its average volume of 883,457. Arch Capital Group has a 52 week low of $83.16 and a 52 week high of $102.60. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.79 and a current ratio of 0.79. The company has a market capitalization of $11,811.12, a P/E ratio of 26.61, a P/E/G ratio of 1.26 and a beta of 0.61.
Arch Capital Group (NASDAQ:ACGL) last posted its quarterly earnings data on Monday, February 12th. The insurance provider reported $1.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.13 by $0.21. The company had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.09 billion. Arch Capital Group had a net margin of 11.21% and a return on equity of 5.87%. The firm’s revenue was up 27.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.13 EPS. analysts forecast that Arch Capital Group will post 6.23 EPS for the current fiscal year.
In other news, CFO Mark Donald Lyons sold 6,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $89.39, for a total value of $536,340.00. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Constantine Iordanou bought 7,000 shares of the company’s stock in a transaction dated Thursday, February 15th. The stock was purchased at an average price of $23.80 per share, for a total transaction of $166,600.00. Following the purchase, the chief executive officer now owns 7,000 shares of the company’s stock, valued at approximately $166,600. The disclosure for this purchase can be found here. 6.60% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently modified their holdings of the stock. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its position in Arch Capital Group by 7.4% during the fourth quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 66,919 shares of the insurance provider’s stock valued at $6,074,000 after purchasing an additional 4,630 shares during the period. OLD Mutual Customised Solutions Proprietary Ltd. lifted its position in Arch Capital Group by 80.0% during the fourth quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 5,400 shares of the insurance provider’s stock valued at $490,000 after purchasing an additional 2,400 shares during the period. Sterling Capital Management LLC bought a new position in Arch Capital Group during the fourth quarter valued at approximately $1,288,000. BB&T Securities LLC bought a new position in Arch Capital Group during the fourth quarter valued at approximately $488,000. Finally, Millennium Management LLC bought a new position in Arch Capital Group during the fourth quarter valued at approximately $2,823,000. Institutional investors own 77.96% of the company’s stock.
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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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