Credit Suisse Group upgraded shares of Arch Capital Group Ltd. (NASDAQ:ACGL) from a neutral rating to an outperform rating in a report issued on Friday morning. The firm currently has $100.00 target price on the stock.
A number of other equities research analysts have also weighed in on ACGL. Zacks Investment Research downgraded Arch Capital Group from a buy rating to a hold rating in a report on Wednesday, October 5th. Barclays PLC downgraded Arch Capital Group from an overweight rating to an equal weight rating and set a $85.00 target price on the stock. in a report on Thursday, September 15th. Finally, BMO Capital Markets raised Arch Capital Group from a market perform rating to an outperform rating and set a $99.00 target price on the stock in a report on Monday, December 12th. Seven research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Arch Capital Group currently has a consensus rating of Hold and an average target price of $87.09.
Arch Capital Group (NASDAQ:ACGL) traded down 1.45% during trading on Friday, reaching $85.22. The company’s stock had a trading volume of 622,056 shares. Arch Capital Group has a 1-year low of $59.83 and a 1-year high of $88.41. The company’s 50 day moving average price is $85.02 and its 200-day moving average price is $78.61. The stock has a market cap of $10.31 billion, a P/E ratio of 16.20 and a beta of 0.55.
Arch Capital Group (NASDAQ:ACGL) last posted its quarterly earnings data on Wednesday, October 26th. The company reported $1.14 EPS for the quarter, topping the Zacks’ consensus estimate of $1.03 by $0.11. Arch Capital Group had a return on equity of 8.32% and a net margin of 15.47%. The firm had revenue of $1.01 billion for the quarter, compared to analyst estimates of $980.36 million. During the same quarter last year, the company earned $1.01 EPS. The company’s revenue was up 4.4% on a year-over-year basis. Equities analysts forecast that Arch Capital Group will post $4.41 earnings per share for the current fiscal year.
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In other news, Director Brian S. Posner bought 6,000 shares of Arch Capital Group stock in a transaction that occurred on Friday, November 18th. The shares were acquired at an average price of $21.88 per share, with a total value of $131,280.00. Following the completion of the purchase, the director now directly owns 6,000 shares in the company, valued at $131,280. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Mark Donald Lyons sold 3,500 shares of the stock in a transaction on Thursday, December 15th. The shares were sold at an average price of $87.13, for a total value of $304,955.00. The disclosure for this sale can be found here. Company insiders own 6.30% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Seven Eight Capital LLC bought a new position in shares of Arch Capital Group during the second quarter worth about $108,000. Pacer Advisors Inc. boosted its stake in Arch Capital Group by 1.6% in the second quarter. Pacer Advisors Inc. now owns 1,558 shares of the company’s stock valued at $112,000 after buying an additional 24 shares during the last quarter. Sandy Spring Bank boosted its stake in Arch Capital Group by 151.9% in the third quarter. Sandy Spring Bank now owns 1,700 shares of the company’s stock valued at $135,000 after buying an additional 1,025 shares during the last quarter. Advisor Group Inc. boosted its stake in Arch Capital Group by 72.9% in the third quarter. Advisor Group Inc. now owns 1,783 shares of the company’s stock valued at $141,000 after buying an additional 752 shares during the last quarter. Finally, LMR Partners LLP acquired a new stake in Arch Capital Group during the second quarter valued at about $207,000. 76.41% of the stock is currently owned by hedge funds and other institutional investors.
About Arch Capital Group
Arch Capital Group Ltd. writes insurance and reinsurance on worldwide basis. The Company operates in five segments: insurance, reinsurance, mortgage, other and corporate. The Company’s insurance, reinsurance and mortgage segments are underwriting segments. 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, which includes alternative market risks and excess workers’ compensation.
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