Keefe, Bruyette & Woods Cuts Arch Capital Group (NASDAQ:ACGL) Price Target to $120.00

Arch Capital Group (NASDAQ:ACGL) had its target price decreased by Keefe, Bruyette & Woods from $121.00 to $120.00 in a report published on Friday, Marketbeat Ratings reports. Keefe, Bruyette & Woods currently has an outperform rating on the insurance provider’s stock.

Several other brokerages also recently weighed in on ACGL. Barclays lowered their target price on Arch Capital Group from $120.00 to $100.00 and set an “equal weight” rating for the company in a research note on Monday, January 6th. Royal Bank of Canada dropped their price objective on Arch Capital Group from $128.00 to $125.00 and set an “outperform” rating on the stock in a report on Friday, November 1st. BMO Capital Markets increased their target price on Arch Capital Group from $98.00 to $104.00 and gave the company a “market perform” rating in a research note on Wednesday, November 6th. Jefferies Financial Group lifted their price target on shares of Arch Capital Group from $114.00 to $134.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Finally, Evercore ISI increased their price objective on shares of Arch Capital Group from $104.00 to $107.00 and gave the company an “in-line” rating in a research note on Wednesday, October 9th. Six analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $118.13.

Arch Capital Group Stock Performance

NASDAQ:ACGL opened at $90.17 on Friday. Arch Capital Group has a fifty-two week low of $76.82 and a fifty-two week high of $116.47. The firm’s 50 day moving average is $95.69 and its two-hundred day moving average is $101.80. The company has a market cap of $33.93 billion, a P/E ratio of 6.05, a P/E/G ratio of 1.49 and a beta of 0.64. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 0.17.

Arch Capital Group (NASDAQ:ACGL) last posted its quarterly earnings results on Wednesday, October 30th. The insurance provider reported $1.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.94 by $0.05. Arch Capital Group had a return on equity of 18.94% and a net margin of 33.86%. The firm had revenue of $4.72 billion during the quarter, compared to the consensus estimate of $4.05 billion. During the same quarter in the previous year, the business earned $2.31 earnings per share. Analysts expect that Arch Capital Group will post 8.99 EPS for the current year.

Arch Capital Group Announces Dividend

The firm also recently disclosed a special dividend, which was paid on Wednesday, December 4th. Investors of record on Monday, November 18th were issued a $5.00 dividend. The ex-dividend date was Monday, November 18th.

Hedge Funds Weigh In On Arch Capital Group

Several large investors have recently bought and sold shares of the stock. State Street Corp grew its position in Arch Capital Group by 1.1% in the third quarter. State Street Corp now owns 16,587,446 shares of the insurance provider’s stock worth $1,855,803,000 after buying an additional 172,628 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Arch Capital Group by 2.4% during the third quarter. Geode Capital Management LLC now owns 10,830,263 shares of the insurance provider’s stock worth $1,208,307,000 after purchasing an additional 253,648 shares during the period. Principal Financial Group Inc. boosted its position in shares of Arch Capital Group by 4.8% in the 3rd quarter. Principal Financial Group Inc. now owns 7,438,738 shares of the insurance provider’s stock valued at $832,246,000 after purchasing an additional 337,786 shares during the period. Allspring Global Investments Holdings LLC raised its holdings in Arch Capital Group by 1.0% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 5,124,251 shares of the insurance provider’s stock worth $573,301,000 after buying an additional 49,426 shares during the period. Finally, Dimensional Fund Advisors LP lifted its stake in Arch Capital Group by 6.6% during the second quarter. Dimensional Fund Advisors LP now owns 3,925,288 shares of the insurance provider’s stock valued at $396,026,000 after buying an additional 244,285 shares in the last quarter. Institutional investors and hedge funds own 89.07% of the company’s stock.

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.