Wells Fargo & Company Lowers Arch Capital Group (NASDAQ:ACGL) Price Target to $107.00

Arch Capital Group (NASDAQ:ACGL) had its target price lowered by research analysts at Wells Fargo & Company from $109.00 to $107.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage presently has an “overweight” rating on the insurance provider’s stock. Wells Fargo & Company‘s target price suggests a potential upside of 18.66% from the company’s previous close.

Several other equities research analysts have also weighed in on ACGL. JMP Securities increased their target price on Arch Capital Group from $115.00 to $125.00 and gave the stock a “market outperform” rating in a research report on Tuesday, October 15th. Royal Bank of Canada decreased their price target on Arch Capital Group from $128.00 to $125.00 and set an “outperform” rating for the company in a research note on Friday, November 1st. Keefe, Bruyette & Woods decreased their price target on Arch Capital Group from $121.00 to $120.00 and set an “outperform” rating for the company in a research note on Friday. Barclays decreased their price target 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. Finally, Bank of America decreased their price target on Arch Capital Group from $143.00 to $136.00 and set a “buy” rating for the company in a research note on Friday, November 15th. Six investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $118.00.

Arch Capital Group Stock Performance

NASDAQ ACGL traded down $0.66 during trading hours on Tuesday, hitting $90.17. The company had a trading volume of 66,054 shares, compared to its average volume of 1,590,177. Arch Capital Group has a fifty-two week low of $77.53 and a fifty-two week high of $116.47. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 0.17. The business has a fifty day simple moving average of $95.60 and a 200-day simple moving average of $101.73. The firm has a market cap of $33.93 billion, a P/E ratio of 6.05, a price-to-earnings-growth ratio of 1.49 and a beta of 0.64.

Arch Capital Group (NASDAQ:ACGL) last issued its 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. 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 for the quarter, compared to analyst estimates of $4.05 billion. During the same period last year, the company earned $2.31 earnings per share. Equities analysts predict that Arch Capital Group will post 8.99 EPS for the current year.

Hedge Funds Weigh In On Arch Capital Group

A number of hedge funds and other institutional investors have recently modified their holdings of ACGL. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Arch Capital Group by 245.1% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,053,739 shares of the insurance provider’s stock valued at $341,652,000 after purchasing an additional 2,168,897 shares during the period. Erste Asset Management GmbH acquired a new position in shares of Arch Capital Group in the 3rd quarter valued at $82,748,000. National Pension Service acquired a new position in shares of Arch Capital Group in the 3rd quarter valued at $64,271,000. International Assets Investment Management LLC boosted its position in shares of Arch Capital Group by 18,634.1% in the 3rd quarter. International Assets Investment Management LLC now owns 551,345 shares of the insurance provider’s stock valued at $616,840,000 after purchasing an additional 548,402 shares during the period. Finally, Brandes Investment Partners LP purchased a new stake in Arch Capital Group in the 2nd quarter worth about $48,119,000. 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.