Arch Capital Group Ltd. (NASDAQ:ACGL) Receives Consensus Rating of “Hold” from Analysts
Arch Capital Group Ltd. (NASDAQ:ACGL) has been given a consensus recommendation of “Hold” by the eleven brokerages that are covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $39.48.
ACGL has been the subject of a number of recent research reports. Buckingham Research raised their price target on Arch Capital Group from $38.00 to $40.00 and gave the stock a “neutral” rating in a research note on Thursday, September 12th. MKM Partners lifted their price objective on Arch Capital Group from $40.00 to $45.00 and gave the company a “buy” rating in a research report on Tuesday, July 30th. BidaskClub downgraded Arch Capital Group from a “buy” rating to a “hold” rating in a research report on Thursday, September 12th. Deutsche Bank upgraded Arch Capital Group from a “hold” rating to a “buy” rating and set a $35.35 price objective for the company in a research report on Wednesday, June 26th. Finally, ValuEngine downgraded Arch Capital Group from a “sell” rating to a “strong sell” rating in a research report on Thursday, August 1st.
Shares of ACGL traded up $0.07 during midday trading on Friday, reaching $41.21. 30,250 shares of the stock were exchanged, compared to its average volume of 1,209,921. Arch Capital Group has a 12-month low of $24.79 and a 12-month high of $41.57. The firm has a 50 day simple moving average of $39.73 and a 200-day simple moving average of $35.87. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 0.27. The company has a market cap of $16.59 billion, a price-to-earnings ratio of 18.72, a P/E/G ratio of 1.45 and a beta of 0.64.
In other Arch Capital Group news, SVP W Preston Hutchings sold 25,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $39.47, for a total transaction of $986,750.00. Following the sale, the senior vice president now owns 55,694 shares of the company’s stock, valued at $2,198,242.18. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Marc Grandisson sold 78,300 shares of the firm’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $40.05, for a total transaction of $3,135,915.00. Following the sale, the chief executive officer now directly owns 92,309 shares in the company, valued at approximately $3,696,975.45. The disclosure for this sale can be found here. In the last three months, insiders have sold 141,300 shares of company stock worth $5,619,725. 5.20% of the stock is owned by corporate insiders.
Several institutional investors have recently made changes to their positions in ACGL. Nuveen Asset Management LLC acquired a new position in shares of Arch Capital Group in the 2nd quarter valued at $77,500,000. BlackRock Inc. increased its stake in Arch Capital Group by 4.0% in the 1st quarter. BlackRock Inc. now owns 28,877,605 shares of the insurance provider’s stock valued at $933,325,000 after buying an additional 1,101,677 shares during the period. AQR Capital Management LLC increased its stake in Arch Capital Group by 228.9% in the 2nd quarter. AQR Capital Management LLC now owns 1,422,119 shares of the insurance provider’s stock valued at $52,733,000 after buying an additional 989,669 shares during the period. APG Asset Management N.V. increased its stake in Arch Capital Group by 135.2% in the 2nd quarter. APG Asset Management N.V. now owns 1,082,945 shares of the insurance provider’s stock valued at $35,261,000 after buying an additional 622,600 shares during the period. Finally, California Public Employees Retirement System increased its stake in Arch Capital Group by 25.1% in the 2nd quarter. California Public Employees Retirement System now owns 2,932,983 shares of the insurance provider’s stock valued at $108,755,000 after buying an additional 589,337 shares during the period. 79.67% of the stock is currently owned by institutional investors and hedge funds.
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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