Royal Bank Of Canada reaffirmed their buy rating on shares of Arch Capital Group Ltd. (NASDAQ:ACGL) in a research note published on Friday morning. They currently have a $113.00 price objective on the insurance provider’s stock.
A number of other equities analysts also recently issued reports on ACGL. BidaskClub upgraded Arch Capital Group from a sell rating to a hold rating in a research note on Friday, June 30th. Keefe, Bruyette & Woods restated a hold rating and issued a $95.00 price target on shares of Arch Capital Group in a research note on Tuesday, July 4th. Wells Fargo & Company restated a hold rating on shares of Arch Capital Group in a research note on Wednesday, July 26th. Buckingham Research started coverage on Arch Capital Group in a research note on Monday, September 11th. They issued a buy rating and a $106.00 price target on the stock. Finally, UBS AG dropped their price target on Arch Capital Group from $114.00 to $110.00 and set a buy rating on the stock in a research note on Tuesday, September 19th. Eight equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The stock has a consensus rating of Hold and a consensus price target of $101.10.
Arch Capital Group (ACGL) opened at 99.83 on Friday. The stock has a market cap of $13.43 billion, a PE ratio of 18.16 and a beta of 0.66. The firm has a 50-day moving average price of $99.08 and a 200 day moving average price of $96.72. Arch Capital Group has a 52-week low of $76.55 and a 52-week high of $102.60.
Arch Capital Group (NASDAQ:ACGL) last issued its earnings results on Wednesday, October 25th. The insurance provider reported ($0.79) EPS for the quarter, missing the consensus estimate of ($0.59) by ($0.20). The business had revenue of $1.33 billion for the quarter, compared to analysts’ expectations of $1.16 billion. Arch Capital Group had a net margin of 9.44% and a return on equity of 5.70%. The business’s revenue for the quarter was up 30.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.14 earnings per share. On average, analysts forecast that Arch Capital Group will post $3.41 earnings per share for the current fiscal year.
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 transaction was disclosed in a filing 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 shares were sold at an average price of $97.88, for a total value of $4,894,000.00. Following the transaction, 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 owned by company insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Acrospire Investment Management LLC purchased a new position in Arch Capital Group during the second quarter valued at $112,000. Vantage Investment Advisors LLC lifted its position in Arch Capital Group by 1,372.9% during the second quarter. Vantage Investment Advisors LLC now owns 1,252 shares of the insurance provider’s stock valued at $117,000 after purchasing an additional 1,167 shares in the last quarter. Parallel Advisors LLC lifted its position in Arch Capital Group by 0.4% during the second quarter. Parallel Advisors LLC now owns 1,356 shares of the insurance provider’s stock valued at $132,000 after purchasing an additional 6 shares in the last quarter. Toronto Dominion Bank lifted its position in Arch Capital Group by 18.8% during the second quarter. Toronto Dominion Bank now owns 1,596 shares of the insurance provider’s stock valued at $149,000 after purchasing an additional 253 shares in the last quarter. Finally, Crow Point Partners LLC purchased a new position in Arch Capital Group during the second quarter valued at $174,000. Institutional investors own 76.44% 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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