Arch Capital Group Ltd. (ACGL) Given Average Recommendation of “Hold” by Analysts
Arch Capital Group Ltd. (NASDAQ:ACGL) has been given a consensus rating of “Hold” by the thirteen ratings firms that are currently covering the firm, MarketBeat Ratings reports. Eight analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $99.67.
ACGL has been the topic of a number of recent research reports. Barclays PLC upped their price target on shares of Arch Capital Group from $91.00 to $95.00 and gave the company an “equal weight” rating in a research note on Monday, October 16th. UBS AG dropped their price target on shares of Arch Capital Group from $114.00 to $110.00 and set a “buy” rating on the stock in a research note on Tuesday, September 19th. Zacks Investment Research cut shares of Arch Capital Group from a “hold” rating to a “sell” rating in a research note on Tuesday, September 26th. Keefe, Bruyette & Woods set a $100.00 price target on shares of Arch Capital Group and gave the company a “hold” rating in a research note on Friday, August 11th. Finally, Buckingham Research initiated coverage on shares of Arch Capital Group in a research note on Monday, September 11th. They set a “buy” rating and a $106.00 price target on the stock.
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Shares of Arch Capital Group (ACGL) traded down $0.56 during mid-day trading on Monday, hitting $95.35. 452,800 shares of the company were exchanged, compared to its average volume of 458,043. The stock has a market cap of $12,552.13, a PE ratio of 32.29, a P/E/G ratio of 2.66 and a beta of 0.70. The company has a quick ratio of 0.77, a current ratio of 0.83 and a debt-to-equity ratio of 0.49. Arch Capital Group has a 12 month low of $79.86 and a 12 month high of $102.60.
Arch Capital Group (NASDAQ:ACGL) last announced its quarterly earnings results on Wednesday, October 25th. The insurance provider reported ($0.79) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.59) by ($0.20). The business had revenue of $1.33 billion for the quarter, compared to analysts’ expectations of $1.16 billion. Arch Capital Group had a net margin of 9.44% and a return on equity of 5.57%. The business’s quarterly revenue was up 30.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.14 earnings per share. sell-side analysts anticipate that Arch Capital Group will post 3.27 EPS for the current fiscal year.
In other news, CEO Nicolas Papadopoulo sold 54,554 shares of the stock in a transaction on Tuesday, November 7th. The shares were sold at an average price of $95.53, for a total value of $5,211,543.62. Following the transaction, the chief executive officer now owns 147,481 shares of the company’s stock, valued at approximately $14,088,859.93. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Andrew Rippert sold 3,500 shares of the stock in a transaction on Thursday, September 7th. The stock was sold at an average price of $94.25, for a total transaction of $329,875.00. The disclosure for this sale can be found here. Insiders sold a total of 187,633 shares of company stock worth $17,864,402 over the last quarter. Corporate insiders own 6.60% of the company’s stock.
Several large investors have recently modified their holdings of the company. Wells Fargo & Company MN increased its holdings in shares of Arch Capital Group by 7.7% in the 3rd quarter. Wells Fargo & Company MN now owns 2,411,267 shares of the insurance provider’s stock worth $237,510,000 after buying an additional 173,359 shares during the last quarter. Amalgamated Bank increased its holdings in shares of Arch Capital Group by 12.4% in the 3rd quarter. Amalgamated Bank now owns 12,698 shares of the insurance provider’s stock worth $1,251,000 after buying an additional 1,402 shares during the last quarter. Dai Ichi Life Insurance Company Ltd bought a new position in shares of Arch Capital Group in the 3rd quarter worth $242,000. Legal & General Group Plc increased its holdings in shares of Arch Capital Group by 5.2% in the 3rd quarter. Legal & General Group Plc now owns 778,850 shares of the insurance provider’s stock worth $76,731,000 after buying an additional 38,411 shares during the last quarter. Finally, Nordea Investment Management AB increased its holdings in shares of Arch Capital Group by 57.6% in the 3rd quarter. Nordea Investment Management AB now owns 5,200 shares of the insurance provider’s stock worth $512,000 after buying an additional 1,900 shares during the last quarter. 73.19% of the stock is currently owned by hedge funds and other institutional investors.
About Arch Capital Group
Arch Capital Group Ltd. provides insurance, reinsurance and mortgage insurance. The Company provides a range of property, casualty and mortgage insurance and reinsurance lines. The Company operates in five segments: insurance, reinsurance, mortgage, other and corporate. 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.
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