Arch Capital Group Ltd. (NASDAQ:ACGL)‘s stock had its “hold” rating restated by equities research analysts at Barclays PLC in a research note issued to investors on Tuesday. They presently have a $85.00 price target on the stock. Barclays PLC’s price target indicates a potential upside of 5.54% from the stock’s previous close.
ACGL has been the subject of a number of other research reports. Zacks Investment Research cut Arch Capital Group from a “hold” rating to a “sell” rating in a report on Monday, July 18th. Royal Bank Of Canada lifted their target price on Arch Capital Group from $80.00 to $87.00 and gave the stock an “outperform” rating in a report on Wednesday, August 17th. Keefe, Bruyette & Woods lifted their target price on Arch Capital Group from $76.00 to $78.00 and gave the stock a “market perform” rating in a report on Friday, August 5th. RBC Capital Markets reiterated an “outperform” rating and issued a $87.00 target price (up previously from $80.00) on shares of Arch Capital Group in a report on Wednesday, August 17th. Finally, Goldman Sachs Group Inc. upgraded Arch Capital Group from a “sell” rating to a “neutral” rating and lifted their target price for the stock from $66.00 to $79.00 in a report on Wednesday, September 7th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and four have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $80.69.
Arch Capital Group (NASDAQ:ACGL) opened at 80.54 on Tuesday. The firm’s 50-day moving average is $80.01 and its 200-day moving average is $73.20. The stock has a market capitalization of $9.71 billion, a P/E ratio of 20.82 and a beta of 0.57. Arch Capital Group has a 12-month low of $59.83 and a 12-month high of $85.16.
Arch Capital Group (NASDAQ:ACGL) last announced its earnings results on Wednesday, July 27th. The company reported $1.13 EPS for the quarter, topping the Zacks’ consensus estimate of $0.96 by $0.17. Arch Capital Group had a return on equity of 8.32% and a net margin of 12.27%. During the same period in the previous year, the business posted $1.16 earnings per share. Analysts predict that Arch Capital Group will post $4.32 EPS for the current fiscal year.
In other news, CEO David Mcelroy sold 25,000 shares of the business’s stock in a transaction on Wednesday, August 17th. The stock was sold at an average price of $79.27, for a total value of $1,981,750.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Mark Donald Lyons sold 4,812 shares of the business’s stock in a transaction on Tuesday, August 30th. The stock was sold at an average price of $80.34, for a total value of $386,596.08. The disclosure for this sale can be found here. 6.30% of the stock is owned by company insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in ACGL. Emerald Acquisition Ltd. bought a new position in Arch Capital Group during the second quarter valued at approximately $50,798,000. BlackRock Fund Advisors raised its position in Arch Capital Group by 19.2% in the first quarter. BlackRock Fund Advisors now owns 2,827,534 shares of the company’s stock valued at $201,038,000 after buying an additional 456,111 shares during the last quarter. FMR LLC raised its position in Arch Capital Group by 16.3% in the second quarter. FMR LLC now owns 1,809,581 shares of the company’s stock valued at $130,290,000 after buying an additional 252,979 shares during the last quarter. Vanguard Group Inc. raised its position in Arch Capital Group by 2.5% in the second quarter. Vanguard Group Inc. now owns 8,579,022 shares of the company’s stock valued at $617,689,000 after buying an additional 212,635 shares during the last quarter. Finally, BlackRock Institutional Trust Company N.A. raised its position in shares of Arch Capital Group by 3.7% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 3,659,783 shares of the company’s stock valued at $263,504,000 after buying an additional 129,935 shares in the last quarter. 77.47% of the stock is owned by hedge funds and other institutional investors.
Arch Capital Group Company Profile
Arch Capital Group Ltd. writes insurance and reinsurance on worldwide basis. The Company operates in five segments: insurance, reinsurance, mortgage, other and corporate. The Company’s insurance, reinsurance and mortgage segments are underwriting segments. 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, which includes alternative market risks and excess workers’ compensation.
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