Arch Capital Group Ltd. (ACGL) Price Target Cut to $110.00

Arch Capital Group Ltd. (NASDAQ:ACGL) had its target price lowered by research analysts at UBS AG from $114.00 to $110.00 in a note issued to investors on Tuesday. The brokerage currently has a “buy” rating on the insurance provider’s stock. UBS AG’s price target would suggest a potential upside of 13.84% from the stock’s previous close.

ACGL has been the topic of a number of other research reports. Keefe, Bruyette & Woods set a $100.00 target price on Arch Capital Group and gave the company a “hold” rating in a research report on Friday, August 11th. BidaskClub downgraded Arch Capital Group from a “hold” rating to a “sell” rating in a research report on Saturday, June 10th. Zacks Investment Research downgraded Arch Capital Group from a “hold” rating to a “sell” rating in a research report on Tuesday, June 27th. Wells Fargo & Company reaffirmed a “hold” rating on shares of Arch Capital Group in a research report on Wednesday, June 7th. Finally, Buckingham Research began coverage on Arch Capital Group in a research report on Monday, September 11th. They issued a “buy” rating and a $106.00 target price on the stock. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $97.22.

Arch Capital Group (ACGL) opened at 96.63 on Tuesday. The stock’s 50 day moving average price is $96.62 and its 200-day moving average price is $95.63. The firm has a market cap of $13.00 billion, a price-to-earnings ratio of 17.58 and a beta of 0.67. Arch Capital Group has a one year low of $76.47 and a one year high of $99.47.

Arch Capital Group (NASDAQ:ACGL) last released its earnings results on Wednesday, July 26th. The insurance provider reported $1.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.20 by $0.01. The business had revenue of $1.25 billion for the quarter, compared to the consensus estimate of $1.28 billion. Arch Capital Group had a return on equity of 8.76% and a net margin of 15.65%. Arch Capital Group’s quarterly revenue was up 22.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.13 earnings per share. Analysts forecast that Arch Capital Group will post $5.37 earnings per share for the current year.

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In other Arch Capital Group news, CEO Constantine Iordanou sold 50,000 shares of the business’s stock in a transaction that occurred on Thursday, August 3rd. The stock was sold at an average price of $97.88, for a total transaction of $4,894,000.00. Following the transaction, the chief executive officer now owns 171,901 shares of the company’s stock, valued at $16,825,669.88. The sale was disclosed in a document filed with the SEC, which is available through this link. 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 transaction, the senior vice president now directly owns 39,411 shares in the company, valued at approximately $3,815,378.91. The disclosure for this sale can be found here. In the last three months, insiders have sold 195,579 shares of company stock worth $18,756,983. Company insiders own 6.60% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Parallel Advisors LLC increased 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 worth $132,000 after buying an additional 6 shares during the last quarter. Capital One National Association increased its position in Arch Capital Group by 0.3% during the second quarter. Capital One National Association now owns 2,263 shares of the insurance provider’s stock worth $211,000 after buying an additional 7 shares during the last quarter. Cambridge Investment Research Advisors Inc. increased its position in Arch Capital Group by 0.8% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 2,618 shares of the insurance provider’s stock worth $248,000 after buying an additional 22 shares during the last quarter. Gateway Investment Advisers LLC increased its position in Arch Capital Group by 0.9% during the second quarter. Gateway Investment Advisers LLC now owns 2,855 shares of the insurance provider’s stock worth $266,000 after buying an additional 26 shares during the last quarter. Finally, CIBC Asset Management Inc increased its position in Arch Capital Group by 0.7% during the second quarter. CIBC Asset Management Inc now owns 10,799 shares of the insurance provider’s stock worth $1,007,000 after buying an additional 78 shares during the last quarter. 76.91% of the stock is currently owned by hedge funds and other institutional investors.

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.

Analyst Recommendations for Arch Capital Group (NASDAQ:ACGL)

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