Arch Capital Group Ltd. (ACGL) Stock Rating Lowered by Barclays PLC
Arch Capital Group Ltd. (NASDAQ:ACGL) was downgraded by research analysts at Barclays PLC from an “overweight” rating to an “equal weight” rating in a report released on Thursday. They currently have a $85.00 price objective on the stock. Barclays PLC’s price target would suggest a potential upside of 6.32% from the stock’s previous close.
Several other equities analysts have also weighed in on ACGL. Zacks Investment Research upgraded shares of Arch Capital Group from a “hold” rating to a “buy” rating and set a $83.00 price objective on the stock in a report on Tuesday, August 2nd. Keefe, Bruyette & Woods increased their price objective on shares of Arch Capital Group from $74.00 to $76.00 and gave the company a “market perform” rating in a report on Monday, July 11th. MKM Partners increased their price objective on shares of Arch Capital Group from $85.00 to $95.00 and gave the company a “buy” rating in a report on Tuesday, August 30th. Deutsche Bank AG increased their price objective on shares of Arch Capital Group from $72.00 to $74.00 and gave the company a “hold” rating in a report on Friday, July 29th. Finally, Wells Fargo & Co. restated a “hold” rating on shares of Arch Capital Group in a report on Wednesday, June 15th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and four have issued a buy rating to the company. The company has an average rating of “Hold” and an average target price of $80.36.
Shares of Arch Capital Group (NASDAQ:ACGL) opened at 79.95 on Thursday. The firm has a market cap of $9.64 billion, a price-to-earnings ratio of 20.67 and a beta of 0.57. The firm’s 50 day moving average is $77.61 and its 200-day moving average is $72.31. Arch Capital Group has a 52 week low of $59.83 and a 52 week high of $83.61.
Arch Capital Group (NASDAQ:ACGL) last announced its earnings results on Wednesday, July 27th. The company reported $1.13 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.96 by $0.17. Arch Capital Group had a net margin of 12.27% and a return on equity of 8.32%. During the same quarter last year, the business earned $1.16 EPS. Equities research analysts predict that Arch Capital Group will post $4.32 EPS for the current year.
In related news, insider Louis T. Petrillo sold 8,635 shares of the firm’s stock in a transaction on Tuesday, August 23rd. The shares were sold at an average price of $79.43, for a total value of $685,878.05. Following the completion of the transaction, the insider now owns 74,433 shares of the company’s stock, valued at $5,912,213.19. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Mark Donald Lyons sold 4,812 shares of the firm’s stock in a transaction on Tuesday, August 30th. The shares were sold at an average price of $80.34, for a total transaction of $386,596.08. The disclosure for this sale can be found here. 6.30% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ACGL. Seven Eight Capital LLC acquired a new position in Arch Capital Group during the second quarter worth $108,000. Pacer Advisors Inc. increased its position in Arch Capital Group by 1.6% in the second quarter. Pacer Advisors Inc. now owns 1,558 shares of the company’s stock worth $112,000 after buying an additional 24 shares during the period. Daiwa SB Investments Ltd. increased its position in Arch Capital Group by 8.2% in the second quarter. Daiwa SB Investments Ltd. now owns 2,370 shares of the company’s stock worth $166,000 after buying an additional 180 shares during the period. Quantbot Technologies LP increased its position in Arch Capital Group by 113.5% in the second quarter. Quantbot Technologies LP now owns 2,688 shares of the company’s stock worth $193,000 after buying an additional 1,429 shares during the period. Finally, Bayesian Capital Management LP acquired a new position in Arch Capital Group during the first quarter worth $204,000. 77.58% of the stock is owned by institutional investors and hedge funds.
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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