Barclays upgraded shares of Arch Capital Group (NASDAQ:ACGL) from an equal weight rating to an overweight rating in a research report report published on Wednesday morning, Marketbeat Ratings reports. The firm currently has $32.00 price objective on the insurance provider’s stock, up from their prior price objective of $29.00.
ACGL has been the subject of a number of other reports. BidaskClub cut Arch Capital Group from a sell rating to a strong sell rating in a research note on Thursday, September 27th. Wells Fargo & Co reiterated a hold rating and issued a $30.00 price target on shares of Arch Capital Group in a research note on Wednesday, October 31st. Zacks Investment Research cut Arch Capital Group from a buy rating to a hold rating in a research note on Friday, October 5th. Finally, Morgan Stanley set a $22.00 price target on Arch Capital Group and gave the company a hold rating in a research note on Wednesday, November 14th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the stock. The stock has a consensus rating of Hold and an average target price of $29.50.
Shares of NASDAQ ACGL traded up $0.36 during mid-day trading on Wednesday, reaching $27.13. 24,817 shares of the company were exchanged, compared to its average volume of 858,775. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.53 and a quick ratio of 0.53. The stock has a market capitalization of $10.68 billion, a P/E ratio of 25.35, a price-to-earnings-growth ratio of 0.98 and a beta of 0.68. Arch Capital Group has a 1 year low of $24.79 and a 1 year high of $31.59.
Arch Capital Group (NASDAQ:ACGL) last issued its quarterly earnings data on Tuesday, October 30th. The insurance provider reported $0.59 earnings per share for the quarter, topping analysts’ consensus estimates of $0.52 by $0.07. The firm had revenue of $1.33 billion during the quarter, compared to analysts’ expectations of $1.19 billion. Arch Capital Group had a return on equity of 10.30% and a net margin of 15.15%. The firm’s quarterly revenue was up .6% on a year-over-year basis. During the same period in the prior year, the business posted ($0.13) EPS. As a group, equities research analysts anticipate that Arch Capital Group will post 2.18 earnings per share for the current fiscal year.
In related news, Director Yiorgos Lillikas sold 7,000 shares of the firm’s stock in a transaction dated Monday, November 19th. The stock was sold at an average price of $28.06, for a total transaction of $196,420.00. Following the sale, the director now directly owns 53,214 shares of the company’s stock, valued at $1,493,184.84. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Andrew Rippert sold 3,593 shares of the firm’s stock in a transaction dated Thursday, November 15th. The stock was sold at an average price of $27.83, for a total value of $99,993.19. The disclosure for this sale can be found here. Insiders sold 12,593 shares of company stock worth $353,393 over the last three months. Corporate insiders own 5.10% of the company’s stock.
A number of institutional investors have recently bought and sold shares of ACGL. Capital International Investors acquired a new stake in Arch Capital Group during the third quarter worth about $393,068,000. FMR LLC lifted its position in shares of Arch Capital Group by 182.3% in the second quarter. FMR LLC now owns 6,262,026 shares of the insurance provider’s stock valued at $165,693,000 after acquiring an additional 4,043,479 shares in the last quarter. Marshfield Associates lifted its position in Arch Capital Group by 215.4% during the second quarter. Marshfield Associates now owns 4,551,811 shares of the insurance provider’s stock worth $120,441,000 after buying an additional 3,108,441 shares in the last quarter. Northern Trust Corp lifted its position in Arch Capital Group by 177.9% during the second quarter. Northern Trust Corp now owns 2,929,737 shares of the insurance provider’s stock worth $77,521,000 after buying an additional 1,875,385 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in Arch Capital Group by 202.1% during the second quarter. Dimensional Fund Advisors LP now owns 2,573,796 shares of the insurance provider’s stock worth $68,103,000 after buying an additional 1,721,752 shares in the last quarter. 80.61% of the stock is currently owned by hedge funds and other institutional investors.
About Arch Capital Group
Arch Capital Group Ltd., together with its subsidiaries, provides property, casualty, and mortgage insurance and reinsurance 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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