Arch Capital Group (NASDAQ:ACGL) had its price target lifted by Wells Fargo & Company from $37.00 to $42.00 in a report published on Thursday morning, The Fly reports. They currently have an overweight rating on the insurance provider’s stock. The analysts noted that the move was a valuation call.
ACGL has been the topic of a number of other reports. Morgan Stanley boosted their price objective on Arch Capital Group from $32.00 to $34.00 and gave the company an equal weight rating in a research report on Wednesday, August 19th. TheStreet raised Arch Capital Group from a c+ rating to a b rating in a research note on Friday, October 23rd. BidaskClub raised Arch Capital Group from a sell rating to a hold rating in a research note on Saturday, October 31st. Finally, ValuEngine raised Arch Capital Group from a sell rating to a hold rating in a research note on Tuesday, November 17th. Six investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The company presently has a consensus rating of Buy and a consensus target price of $39.45.
ACGL opened at $33.97 on Thursday. The stock has a market cap of $13.79 billion, a PE ratio of 12.18, a P/E/G ratio of 2.86 and a beta of 0.81. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 0.28. Arch Capital Group has a 1 year low of $20.93 and a 1 year high of $48.32. The stock’s 50 day simple moving average is $31.66 and its 200-day simple moving average is $30.17.
Arch Capital Group (NASDAQ:ACGL) last released its quarterly earnings data on Thursday, October 29th. The insurance provider reported $0.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.25 by $0.04. The business had revenue of $1.87 billion for the quarter, compared to analysts’ expectations of $1.67 billion. Arch Capital Group had a return on equity of 5.68% and a net margin of 15.08%. Arch Capital Group’s quarterly revenue was up 16.2% on a year-over-year basis. During the same period in the previous year, the business posted $0.63 earnings per share. Equities analysts forecast that Arch Capital Group will post 1.24 earnings per share for the current fiscal year.
Institutional investors have recently bought and sold shares of the business. Philadelphia Financial Management of San Francisco LLC acquired a new position in shares of Arch Capital Group during the third quarter valued at $5,140,000. Twinbeech Capital LP lifted its stake in shares of Arch Capital Group by 2.0% during the third quarter. Twinbeech Capital LP now owns 53,945 shares of the insurance provider’s stock valued at $1,578,000 after acquiring an additional 1,052 shares during the period. Worldquant Millennium Advisors LLC lifted its stake in shares of Arch Capital Group by 85.7% during the third quarter. Worldquant Millennium Advisors LLC now owns 178,136 shares of the insurance provider’s stock valued at $5,210,000 after acquiring an additional 82,235 shares during the period. California State Teachers Retirement System lifted its stake in shares of Arch Capital Group by 2.0% during the third quarter. California State Teachers Retirement System now owns 703,746 shares of the insurance provider’s stock valued at $20,585,000 after acquiring an additional 13,554 shares during the period. Finally, Sunbelt Securities Inc. acquired a new position in shares of Arch Capital Group during the third quarter valued at $363,000. 75.61% of the stock is currently owned by institutional investors.
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; collateral protection, debt cancellation, and service contract reimbursement products; 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.
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