Arch Capital Group (NASDAQ:ACGL) Stock Price Target Cut by Evercore

Arch Capital Group (NASDAQ:ACGL) had its price target dropped by equities research analysts at Evercore from $105.00 to $103.00 in a research report issued on Wednesday. Evercore‘s target price indicates a potential downside of 3.16% from the stock’s previous close.

Several other analysts have also recently weighed in on ACGL. Jefferies Financial Group lifted their price target on shares of Arch Capital Group from $102.00 to $106.00 and gave the company a “hold” rating in a report on Thursday. Royal Bank Of Canada restated an “outperform” rating and issued a $120.00 price objective (up from $115.00) on shares of Arch Capital Group in a report on Thursday, July 30th. Weiss Ratings raised shares of Arch Capital Group from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, October 9th. Wells Fargo & Company reaffirmed an “overweight” rating and set a $107.00 target price (down from $117.00) on shares of Arch Capital Group in a research note on Monday, October 12th. Finally, Cantor Fitzgerald cut their target price on shares of Arch Capital Group from $110.00 to $105.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 7th. Seven research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $109.94.

Arch Capital Group Price Performance

Shares of ACGL stock traded up $2.42 during trading hours on Wednesday, hitting $106.36. 2,479,819 shares of the company’s stock were exchanged, compared to its average volume of 2,354,857. The company has a market capitalization of $36.29 billion, a PE ratio of 8.70, a PEG ratio of 3.03 and a beta of 0.28. The company has a current ratio of 0.56, a quick ratio of 0.57 and a debt-to-equity ratio of 0.21. Arch Capital Group has a 12-month low of $84.69 and a 12-month high of $107.08. The business’s 50 day simple moving average is $97.80 and its 200-day simple moving average is $96.70.

Arch Capital Group (NASDAQ:ACGL) last posted its quarterly earnings results on Tuesday, October 27th. The insurance provider reported $2.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.31 by $0.36. Arch Capital Group had a return on equity of 16.62% and a net margin of 23.31%. The business had revenue of $4.66 billion for the quarter, compared to analyst estimates of $4.06 billion. During the same period last year, the company earned $2.77 EPS. On average, equities research analysts anticipate that Arch Capital Group will post 9.86 earnings per share for the current year.

Insiders Place Their Bets

In related news, CFO Francois Morin sold 11,010 shares of the firm’s stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $99.32, for a total transaction of $1,093,513.20. Following the completion of the transaction, the chief financial officer owned 184,826 shares of the company’s stock, valued at $18,356,918.32. This trade represents a 5.62% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 3.30% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Arch Capital Group

Several institutional investors and hedge funds have recently modified their holdings of the stock. Provenance Wealth Advisors LLC purchased a new stake in Arch Capital Group during the 3rd quarter valued at about $55,000. ARGA Investment Management LP purchased a new position in Arch Capital Group in the third quarter worth about $26,656,000. Mirae Asset Global Investments Co. Ltd. purchased a new position in Arch Capital Group in the third quarter worth about $9,569,000. Profund Advisors LLC lifted its stake in shares of Arch Capital Group by 8.5% in the third quarter. Profund Advisors LLC now owns 3,163 shares of the insurance provider’s stock worth $292,000 after buying an additional 247 shares in the last quarter. Finally, Vise Technologies Inc. lifted its stake in shares of Arch Capital Group by 8.1% in the third quarter. Vise Technologies Inc. now owns 25,727 shares of the insurance provider’s stock worth $2,376,000 after buying an additional 1,936 shares in the last quarter. 89.07% of the stock is currently owned by institutional investors.

Arch Capital Group Company Profile

Arch Capital Group Ltd. is a Bermuda-based insurance, reinsurance and mortgage insurance company whose shares trade on the Nasdaq under the symbol ACGL. The company was established in 1995 and has developed into a global provider of specialty risk-management products and services.

Through its insurance operations, Arch offers property, casualty, specialty, and accident and health coverage to businesses and other policyholders. Its reinsurance operations provide coverage and risk-transfer solutions to insurance companies across a range of property and casualty lines.