Wells Fargo & Company Cuts Arch Capital Group (NASDAQ:ACGL) Price Target to $118.00

Arch Capital Group (NASDAQ:ACGL) had its price target lowered by Wells Fargo & Company from $126.00 to $118.00 in a research note published on Monday morning,Benzinga reports. The firm currently has an overweight rating on the insurance provider’s stock.

ACGL has been the topic of several other reports. Royal Bank of Canada decreased their price target on shares of Arch Capital Group from $128.00 to $125.00 and set an “outperform” rating on the stock in a research note on Friday, November 1st. Keefe, Bruyette & Woods increased their price objective on Arch Capital Group from $120.00 to $121.00 and gave the company an “outperform” rating in a research report on Wednesday, August 7th. Barclays assumed coverage on Arch Capital Group in a research report on Wednesday, September 4th. They set an “equal weight” rating and a $120.00 target price for the company. Roth Mkm raised their price target on Arch Capital Group from $110.00 to $125.00 and gave the company a “buy” rating in a report on Friday, August 23rd. Finally, Bank of America boosted their price objective on Arch Capital Group from $119.00 to $135.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Six analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $118.88.

Arch Capital Group Trading Down 1.9 %

ACGL stock opened at $99.80 on Monday. Arch Capital Group has a 1-year low of $72.85 and a 1-year high of $116.47. The company has a current ratio of 0.58, a quick ratio of 0.60 and a debt-to-equity ratio of 0.17. The business’s 50 day moving average is $109.67 and its 200-day moving average is $102.91. The firm has a market cap of $37.53 billion, a P/E ratio of 6.70, a P/E/G ratio of 1.36 and a beta of 0.61.

Arch Capital Group (NASDAQ:ACGL) last released its quarterly earnings results on Wednesday, October 30th. The insurance provider reported $1.99 EPS for the quarter, beating analysts’ consensus estimates of $1.94 by $0.05. Arch Capital Group had a net margin of 33.86% and a return on equity of 18.94%. The firm had revenue of $4.72 billion for the quarter, compared to analyst estimates of $4.05 billion. During the same period in the previous year, the business earned $2.31 earnings per share. Equities analysts anticipate that Arch Capital Group will post 9.09 earnings per share for the current fiscal year.

Arch Capital Group Dividend Announcement

The firm also recently declared a special dividend, which will be paid on Wednesday, December 4th. Shareholders of record on Monday, November 18th will be given a dividend of $5.00 per share.

Insider Transactions at Arch Capital Group

In related news, CFO Francois Morin sold 11,460 shares of the company’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $102.46, for a total transaction of $1,174,191.60. Following the sale, the chief financial officer now owns 221,779 shares in the company, valued at approximately $22,723,476.34. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 4.20% of the company’s stock.

Hedge Funds Weigh In On Arch Capital Group

Institutional investors have recently added to or reduced their stakes in the company. UMB Bank n.a. acquired a new stake in Arch Capital Group in the second quarter valued at $30,000. Baldwin Brothers LLC MA raised its holdings in shares of Arch Capital Group by 50.7% in the 2nd quarter. Baldwin Brothers LLC MA now owns 309 shares of the insurance provider’s stock valued at $31,000 after purchasing an additional 104 shares during the period. Rothschild Investment LLC acquired a new stake in Arch Capital Group in the 2nd quarter valued at about $35,000. LRI Investments LLC bought a new position in Arch Capital Group during the first quarter worth about $40,000. Finally, Compagnie Lombard Odier SCmA acquired a new position in Arch Capital Group during the third quarter worth approximately $46,000. 89.07% of the stock is currently owned by institutional investors and hedge funds.

Arch Capital Group Company Profile

Arch Capital Group Ltd., together with its subsidiaries, provides insurance, reinsurance, and mortgage insurance products worldwide. The company's Insurance segment offers primary and excess casualty coverages; loss sensitive primary casualty insurance programs; directors' and officers' liability, errors and omissions liability, employment practices and fiduciary liability, crime, professional indemnity, and other financial related coverages; medical professional and general liability insurance coverages; and workers' compensation and umbrella liability, as well as commercial automobile and inland marine products.