Bank of America Issues Pessimistic Forecast for Arch Capital Group (NASDAQ:ACGL) Stock Price

Arch Capital Group (NASDAQ:ACGL) had its price objective decreased by Bank of America from $143.00 to $136.00 in a research note released on Friday morning,Benzinga reports. Bank of America currently has a buy rating on the insurance provider’s stock.

A number of other research analysts have also recently weighed in on the company. Jefferies Financial Group lifted their target price on Arch Capital Group from $114.00 to $134.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. StockNews.com lowered Arch Capital Group from a “buy” rating to a “hold” rating in a report on Thursday, October 24th. Keefe, Bruyette & Woods boosted their price objective on Arch Capital Group from $120.00 to $121.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 7th. BMO Capital Markets upped their target price on Arch Capital Group from $98.00 to $104.00 and gave the stock a “market perform” rating in a research report on Wednesday, November 6th. Finally, Citigroup upped their target price on Arch Capital Group from $105.00 to $114.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 10th. Six investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, Arch Capital Group presently has a consensus rating of “Moderate Buy” and an average target price of $118.94.

Arch Capital Group Stock Performance

NASDAQ ACGL opened at $96.98 on Friday. Arch Capital Group has a 1-year low of $72.85 and a 1-year high of $116.47. The company has a market capitalization of $36.49 billion, a P/E ratio of 6.51, a PEG ratio of 1.47 and a beta of 0.61. The business has a 50 day moving average price of $107.74 and a 200 day moving average price of $103.38. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.58 and a quick ratio of 0.58.

Arch Capital Group (NASDAQ:ACGL) last released its quarterly earnings results on Wednesday, October 30th. The insurance provider reported $1.99 earnings per share for the quarter, topping the consensus estimate of $1.94 by $0.05. The company had revenue of $4.72 billion during the quarter, compared to the consensus estimate of $4.05 billion. Arch Capital Group had a return on equity of 18.94% and a net margin of 33.86%. During the same quarter last year, the business posted $2.31 earnings per share. Sell-side analysts expect that Arch Capital Group will post 9.01 EPS for the current fiscal year.

Arch Capital Group Announces Dividend

The business also recently announced a special dividend, which will be paid on Wednesday, December 4th. Investors of record on Monday, November 18th will be paid a $5.00 dividend. The ex-dividend date of this dividend is Monday, November 18th.

Hedge Funds Weigh In On Arch Capital Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ACGL. Farther Finance Advisors LLC raised its holdings in Arch Capital Group by 12.8% in the 3rd quarter. Farther Finance Advisors LLC now owns 890 shares of the insurance provider’s stock valued at $100,000 after acquiring an additional 101 shares during the period. Fiduciary Financial Group LLC grew its position in shares of Arch Capital Group by 2.8% during the 3rd quarter. Fiduciary Financial Group LLC now owns 3,779 shares of the insurance provider’s stock worth $415,000 after purchasing an additional 103 shares in the last quarter. Baldwin Brothers LLC MA boosted its position in shares of Arch Capital Group by 50.7% during the 2nd quarter. Baldwin Brothers LLC MA now owns 309 shares of the insurance provider’s stock worth $31,000 after acquiring an additional 104 shares in the last quarter. Fidelis Capital Partners LLC boosted its position in shares of Arch Capital Group by 3.1% during the 2nd quarter. Fidelis Capital Partners LLC now owns 3,553 shares of the insurance provider’s stock worth $344,000 after acquiring an additional 106 shares in the last quarter. Finally, KG&L Capital Management LLC boosted its position in Arch Capital Group by 1.1% in the third quarter. KG&L Capital Management LLC now owns 10,854 shares of the insurance provider’s stock valued at $1,214,000 after buying an additional 115 shares in the last quarter. 89.07% of the stock is owned by institutional investors and hedge funds.

About Arch Capital Group

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.