Arch Capital Group’s (NASDAQ:ACGL) Hold Rating Reiterated at Wells Fargo & Company
Other analysts have also recently issued reports about the company. Morgan Stanley boosted their price objective on Arch Capital Group from $90.00 to $96.00 and gave the company an equal weight rating in a research report on Friday, April 28th. Keefe, Bruyette & Woods set a $95.00 price objective on Arch Capital Group and gave the company a hold rating in a research report on Thursday, April 6th. Deutsche Bank AG boosted their price objective on Arch Capital Group from $78.00 to $87.00 and gave the company a hold rating in a research report on Thursday, March 30th. BidaskClub upgraded Arch Capital Group from a sell rating to a hold rating in a research report on Friday, June 30th. Finally, Zacks Investment Research cut Arch Capital Group from a hold rating to a sell rating in a research report on Tuesday, June 27th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the stock. Arch Capital Group currently has a consensus rating of Hold and a consensus price target of $92.09.
Arch Capital Group (NASDAQ ACGL) opened at 95.91 on Wednesday. The company has a market capitalization of $12.90 billion, a PE ratio of 17.44 and a beta of 0.66. Arch Capital Group has a 52 week low of $72.11 and a 52 week high of $99.47. The company’s 50-day moving average price is $95.26 and its 200 day moving average price is $94.12.
Arch Capital Group (NASDAQ:ACGL) last released its quarterly earnings data on Wednesday, July 26th. The insurance provider reported $1.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.20 by $0.01. The business had revenue of $1.25 billion for the quarter, compared to analysts’ expectations of $1.28 billion. Arch Capital Group had a return on equity of 9.09% and a net margin of 15.65%. Arch Capital Group’s quarterly revenue was up 22.0% on a year-over-year basis. During the same period in the previous year, the business posted $1.13 earnings per share. On average, equities research analysts anticipate that Arch Capital Group will post $5.36 EPS for the current year.
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In other Arch Capital Group news, CEO Constantine Iordanou sold 37,168 shares of the business’s stock in a transaction on Monday, May 22nd. The stock was sold at an average price of $95.52, for a total value of $3,550,287.36. Following the transaction, the chief executive officer now owns 178,072 shares of the company’s stock, valued at $17,009,437.44. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Louis T. Petrillo sold 2,990 shares of the business’s stock in a transaction on Wednesday, May 24th. The stock was sold at an average price of $94.98, for a total value of $283,990.20. Following the completion of the transaction, the insider now directly owns 56,268 shares in the company, valued at approximately $5,344,334.64. The disclosure for this sale can be found here. Insiders sold 163,789 shares of company stock worth $15,639,880 over the last quarter. Company insiders own 6.60% of the company’s stock.
A number of institutional investors have recently bought and sold shares of ACGL. Comerica Bank acquired a new position in Arch Capital Group during the fourth quarter worth approximately $450,000. Quadrature Capital Ltd acquired a new position in Arch Capital Group during the fourth quarter worth approximately $805,000. UBS Asset Management Americas Inc. raised its position in Arch Capital Group by 1.3% in the fourth quarter. UBS Asset Management Americas Inc. now owns 531,540 shares of the insurance provider’s stock worth $45,867,000 after buying an additional 6,693 shares in the last quarter. Creative Planning raised its position in Arch Capital Group by 0.6% in the first quarter. Creative Planning now owns 3,404 shares of the insurance provider’s stock worth $323,000 after buying an additional 19 shares in the last quarter. Finally, Capstone Asset Management Co. raised its position in Arch Capital Group by 6.5% in the first quarter. Capstone Asset Management Co. now owns 3,298 shares of the insurance provider’s stock worth $313,000 after buying an additional 200 shares in the last quarter. 73.09% of the stock is currently owned by 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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