Wells Fargo & Company set a $100.00 target price on Arch Capital Group Ltd. (NASDAQ:ACGL) in a research report sent to investors on Thursday morning. The brokerage currently has a hold rating on the insurance provider’s stock.
“We do not expect much movement in the Arch shares due to earnings instead the shares should respond to the market outlook on the conference call.”,” Wells Fargo & Company’s analyst wrote.
Other research analysts have also issued research reports about the company. UBS AG cut their price objective on Arch Capital Group from $114.00 to $110.00 and set a buy rating for the company in a report on Tuesday, September 19th. Buckingham Research initiated coverage on Arch Capital Group in a report on Monday, September 11th. They set a buy rating and a $106.00 price objective for the company. Barclays PLC boosted their price objective on Arch Capital Group from $91.00 to $95.00 and gave the stock an equal weight rating in a report on Monday, October 16th. Keefe, Bruyette & Woods set a $100.00 price objective on Arch Capital Group and gave the stock a hold rating in a report on Friday, August 11th. Finally, BidaskClub raised Arch Capital Group from a sell rating to a hold rating in a report on Friday, June 30th. Eight investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The company has a consensus rating of Hold and an average price target of $100.70.
Arch Capital Group (NASDAQ ACGL) opened at 99.71 on Thursday. Arch Capital Group has a 12-month low of $76.55 and a 12-month high of $102.60. The stock has a 50 day moving average of $98.92 and a 200-day moving average of $96.64. The company has a market cap of $13.41 billion, a PE ratio of 18.14 and a beta of 0.66.
Arch Capital Group (NASDAQ:ACGL) last issued its quarterly earnings data on Wednesday, October 25th. The insurance provider reported ($0.79) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.59) by ($0.20). Arch Capital Group had a return on equity of 5.70% and a net margin of 9.44%. The business had revenue of $1.33 billion for the quarter, compared to analysts’ expectations of $1.16 billion. During the same period in the previous year, the firm posted $1.14 EPS. The firm’s revenue for the quarter was up 30.7% compared to the same quarter last year. On average, equities research analysts anticipate that Arch Capital Group will post $3.46 earnings per share for the current fiscal year.
In related news, CFO Mark Donald Lyons sold 9,967 shares of the business’s stock in a transaction that occurred on Tuesday, September 12th. The stock was sold at an average price of $97.31, for a total value of $969,888.77. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP W Preston Hutchings sold 12,500 shares of the business’s stock in a transaction that occurred on Wednesday, August 9th. The stock was sold at an average price of $96.81, for a total value of $1,210,125.00. Following the completion of the sale, the senior vice president now owns 39,411 shares of the company’s stock, valued at approximately $3,815,378.91. The disclosure for this sale can be found here. Insiders sold a total of 195,579 shares of company stock valued at $18,756,983 in the last 90 days. 6.60% of the stock is currently owned by corporate insiders.
A number of large investors have recently added to or reduced their stakes in ACGL. Citadel Advisors LLC lifted its position in Arch Capital Group by 1,388.0% in the 2nd quarter. Citadel Advisors LLC now owns 2,088,015 shares of the insurance provider’s stock worth $194,792,000 after buying an additional 1,947,691 shares during the last quarter. Janus Henderson Group PLC lifted its position in Arch Capital Group by 5,723.3% in the 2nd quarter. Janus Henderson Group PLC now owns 1,074,932 shares of the insurance provider’s stock worth $100,280,000 after buying an additional 1,056,473 shares during the last quarter. Vanguard Group Inc. lifted its position in Arch Capital Group by 7.7% in the 2nd quarter. Vanguard Group Inc. now owns 10,331,707 shares of the insurance provider’s stock worth $963,845,000 after buying an additional 742,855 shares during the last quarter. FMR LLC lifted its position in Arch Capital Group by 21.0% in the 2nd quarter. FMR LLC now owns 2,294,852 shares of the insurance provider’s stock worth $214,087,000 after buying an additional 398,988 shares during the last quarter. Finally, Goldman Sachs Group Inc. lifted its position in Arch Capital Group by 32.6% in the 2nd quarter. Goldman Sachs Group Inc. now owns 1,609,474 shares of the insurance provider’s stock worth $150,148,000 after buying an additional 395,629 shares during the last quarter. Institutional investors own 76.44% of the company’s stock.
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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