Arch Capital Group (NASDAQ:ACGL) Upgraded at StockNews.com

Arch Capital Group (NASDAQ:ACGL) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a note issued to investors on Wednesday.

Other analysts also recently issued reports about the stock. Citigroup upped their price objective on shares of Arch Capital Group from $105.00 to $114.00 and gave the company a “neutral” rating in a report on Tuesday, September 10th. Keefe, Bruyette & Woods increased their price target on shares of Arch Capital Group from $120.00 to $121.00 and gave the stock an “outperform” rating in a report on Wednesday, August 7th. Bank of America increased their price target on shares of Arch Capital Group from $119.00 to $135.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Jefferies Financial Group increased their price target on shares of Arch Capital Group from $114.00 to $134.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Finally, Wells Fargo & Company increased their price target on shares of Arch Capital Group from $110.00 to $126.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. Four investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, Arch Capital Group has an average rating of “Moderate Buy” and a consensus price target of $119.53.

Arch Capital Group Stock Down 0.5 %

Shares of NASDAQ ACGL traded down $0.59 during trading hours on Wednesday, hitting $107.47. 1,696,177 shares of the stock were exchanged, compared to its average volume of 1,623,530. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 0.16. The company has a market cap of $40.35 billion, a PE ratio of 8.48, a PEG ratio of 2.03 and a beta of 0.59. The firm has a fifty day moving average price of $109.66 and a 200-day moving average price of $101.66. Arch Capital Group has a 12 month low of $72.85 and a 12 month high of $116.47.

Arch Capital Group (NASDAQ:ACGL) last issued its quarterly earnings results on Tuesday, July 30th. The insurance provider reported $2.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.21 by $0.36. Arch Capital Group had a net margin of 35.19% and a return on equity of 21.42%. The business had revenue of $3.78 billion for the quarter, compared to analyst estimates of $3.89 billion. During the same quarter in the prior year, the business posted $1.92 EPS. Arch Capital Group’s revenue for the quarter was up 10.3% compared to the same quarter last year. On average, sell-side analysts expect that Arch Capital Group will post 9.11 EPS for the current year.

Insider Buying and Selling

In other Arch Capital Group news, CFO Francois Morin sold 11,460 shares of Arch Capital Group stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $102.46, for a total transaction of $1,174,191.60. Following the completion of the sale, the chief financial officer now directly owns 221,779 shares in the company, valued at $22,723,476.34. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 4.20% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. boosted its stake in shares of Arch Capital Group by 0.3% in the first quarter. Vanguard Group Inc. now owns 40,858,890 shares of the insurance provider’s stock valued at $3,776,996,000 after purchasing an additional 104,008 shares during the period. Principal Financial Group Inc. lifted its stake in Arch Capital Group by 4.4% in the second quarter. Principal Financial Group Inc. now owns 7,100,952 shares of the insurance provider’s stock worth $716,415,000 after acquiring an additional 300,716 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its stake in Arch Capital Group by 1.7% in the first quarter. Allspring Global Investments Holdings LLC now owns 5,907,122 shares of the insurance provider’s stock worth $546,054,000 after acquiring an additional 99,329 shares during the last quarter. Capital International Investors lifted its stake in Arch Capital Group by 61.1% in the first quarter. Capital International Investors now owns 4,112,577 shares of the insurance provider’s stock worth $380,167,000 after acquiring an additional 1,560,173 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in Arch Capital Group by 6.6% in the second quarter. Dimensional Fund Advisors LP now owns 3,925,288 shares of the insurance provider’s stock worth $396,026,000 after acquiring an additional 244,285 shares during the last quarter. Hedge funds and other institutional investors 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.