Arch Capital Group Ltd. (ACGL) Earns “Hold” Rating from Keefe, Bruyette & Woods
Keefe, Bruyette & Woods restated their hold rating on shares of Arch Capital Group Ltd. (NASDAQ:ACGL) in a research report report published on Thursday. They currently have a $100.00 price objective on the insurance provider’s stock.
Other research analysts have also issued research reports about the company. UBS AG dropped their target price on Arch Capital Group from $114.00 to $110.00 and set a buy rating on the stock in a report on Tuesday, September 19th. Buckingham Research started coverage on Arch Capital Group in a report on Monday, September 11th. They issued a buy rating and a $106.00 target price on the stock. Wells Fargo & Company restated a hold rating on shares of Arch Capital Group in a report on Wednesday, July 26th. BidaskClub upgraded Arch Capital Group from a sell rating to a hold rating in a report on Friday, June 30th. Finally, Zacks Investment Research lowered Arch Capital Group from a hold rating to a sell rating in a report on Tuesday, June 27th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the company. Arch Capital Group currently has a consensus rating of Hold and an average target price of $97.22.
Arch Capital Group (ACGL) opened at 98.10 on Thursday. The company’s 50 day moving average price is $96.62 and its 200-day moving average price is $95.63. Arch Capital Group has a 12-month low of $76.47 and a 12-month high of $99.47. The firm has a market capitalization of $13.19 billion, a price-to-earnings ratio of 17.84 and a beta of 0.67.
Arch Capital Group (NASDAQ:ACGL) last posted its earnings results on Wednesday, July 26th. The insurance provider reported $1.21 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.20 by $0.01. Arch Capital Group had a return on equity of 8.76% and a net margin of 15.65%. The company had revenue of $1.25 billion for the quarter, compared to analyst estimates of $1.28 billion. During the same quarter last year, the company earned $1.13 earnings per share. The company’s revenue for the quarter was up 22.0% on a year-over-year basis. On average, equities analysts anticipate that Arch Capital Group will post $5.37 earnings per share for the current fiscal year.
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In related news, CEO Andrew Rippert sold 3,500 shares of Arch Capital Group 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 sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Constantine Iordanou sold 50,000 shares of Arch Capital Group stock in a transaction on Thursday, August 3rd. The stock was sold at an average price of $97.88, for a total value of $4,894,000.00. Following the sale, the chief executive officer now owns 171,901 shares in the company, valued at $16,825,669.88. The disclosure for this sale can be found here. Insiders have sold 195,579 shares of company stock worth $18,756,983 over the last quarter. 6.60% of the stock is currently owned by corporate insiders.
Several institutional investors and hedge funds have recently modified their holdings of ACGL. Proficio Capital Partners LLC raised its stake in shares of Arch Capital Group by 75.5% in the first quarter. Proficio Capital Partners LLC now owns 1,095 shares of the insurance provider’s stock valued at $104,000 after buying an additional 471 shares during the period. Acrospire Investment Management LLC bought a new stake in shares of Arch Capital Group in the second quarter valued at $112,000. Vantage Investment Advisors LLC raised its stake in shares of Arch Capital Group by 1,372.9% in the second quarter. Vantage Investment Advisors LLC now owns 1,252 shares of the insurance provider’s stock valued at $117,000 after buying an additional 1,167 shares during the period. Toronto Dominion Bank raised its stake in shares of Arch Capital Group by 26.5% in the first quarter. Toronto Dominion Bank now owns 1,343 shares of the insurance provider’s stock valued at $127,000 after buying an additional 281 shares during the period. Finally, Parallel Advisors LLC raised its stake in shares of Arch Capital Group by 13.1% in the first quarter. Parallel Advisors LLC now owns 1,350 shares of the insurance provider’s stock valued at $130,000 after buying an additional 156 shares during the period. Hedge funds and other institutional investors own 76.91% of the company’s stock.
Arch Capital Group Company Profile
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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