Arch Capital Group (NASDAQ:ACGL – Get Free Report) had its price target dropped by equities researchers at JPMorgan Chase & Co. from $118.00 to $113.00 in a research report issued on Friday, Benzinga reports. The brokerage presently has a “neutral” rating on the insurance provider’s stock. JPMorgan Chase & Co.‘s target price suggests a potential upside of 18.28% from the company’s previous close.
Several other equities research analysts have also recently commented on ACGL. Keefe, Bruyette & Woods lowered their price target on Arch Capital Group from $102.00 to $99.00 and set a “market perform” rating for the company in a research note on Wednesday, July 8th. Wells Fargo & Company lifted their target price on shares of Arch Capital Group from $114.00 to $117.00 and gave the company an “overweight” rating in a research note on Thursday, July 30th. Weiss Ratings downgraded shares of Arch Capital Group from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, September 24th. Mizuho set a $100.00 price target on shares of Arch Capital Group and gave the stock a “neutral” rating in a research note on Wednesday, September 16th. Finally, Cantor Fitzgerald cut their price target on shares of Arch Capital Group from $110.00 to $105.00 and set a “neutral” rating on the stock in a report on Wednesday. Six investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $109.75.
Read Our Latest Analysis on ACGL
Arch Capital Group Stock Performance
Arch Capital Group (NASDAQ:ACGL – Get Free Report) last issued its quarterly earnings results on Tuesday, July 28th. The insurance provider reported $2.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.47 by $0.09. Arch Capital Group had a return on equity of 17.06% and a net margin of 24.40%.The firm had revenue of $4.67 billion during the quarter, compared to analyst estimates of $4.36 billion. During the same period last year, the company posted $2.58 EPS. On average, equities research analysts forecast that Arch Capital Group will post 9.5 EPS for the current year.
Insider Activity
In related news, CFO Francois Morin sold 11,010 shares of the business’s stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $99.32, for a total transaction of $1,093,513.20. Following the transaction, the chief financial officer directly owned 184,826 shares in the company, valued at $18,356,918.32. The trade was a 5.62% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 3.30% of the company’s stock.
Institutional Investors Weigh In On Arch Capital Group
A number of large investors have recently bought and sold shares of the business. Dimensional Fund Advisors LP grew its holdings in shares of Arch Capital Group by 2.9% during the first quarter. Dimensional Fund Advisors LP now owns 4,173,885 shares of the insurance provider’s stock worth $400,643,000 after purchasing an additional 117,929 shares during the last quarter. Madison Asset Management LLC bought a new position in shares of Arch Capital Group in the second quarter worth about $368,808,000. First Trust Advisors LP raised its stake in shares of Arch Capital Group by 319.5% in the first quarter. First Trust Advisors LP now owns 2,626,148 shares of the insurance provider’s stock worth $252,084,000 after acquiring an additional 2,000,162 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its position in shares of Arch Capital Group by 50.6% during the first quarter. Arrowstreet Capital Limited Partnership now owns 1,910,063 shares of the insurance provider’s stock worth $183,347,000 after purchasing an additional 641,462 shares in the last quarter. Finally, Hsbc Holdings PLC lifted its position in shares of Arch Capital Group by 230.0% during the first quarter. Hsbc Holdings PLC now owns 1,286,178 shares of the insurance provider’s stock worth $123,354,000 after purchasing an additional 896,480 shares in the last quarter. 89.07% of the stock is currently owned by institutional investors.
Arch Capital Group Company Profile
Arch Capital Group Ltd. is a Bermuda-based insurance, reinsurance and mortgage insurance company whose shares trade on the Nasdaq under the symbol ACGL. The company was established in 1995 and has developed into a global provider of specialty risk-management products and services.
Through its insurance operations, Arch offers property, casualty, specialty, and accident and health coverage to businesses and other policyholders. Its reinsurance operations provide coverage and risk-transfer solutions to insurance companies across a range of property and casualty lines.
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