Arch Capital Group (NASDAQ:ACGL) Downgraded to Hold at StockNews.com

StockNews.com cut shares of Arch Capital Group (NASDAQ:ACGL) from a buy rating to a hold rating in a research report released on Saturday.

Several other brokerages have also commented on ACGL. Roth Mkm reissued a buy rating and set a $110.00 price target on shares of Arch Capital Group in a research report on Tuesday, April 30th. JMP Securities increased their target price on shares of Arch Capital Group from $100.00 to $110.00 and gave the stock a market outperform rating in a research report on Tuesday, April 30th. Royal Bank of Canada reaffirmed an outperform rating and set a $98.00 price target on shares of Arch Capital Group in a research report on Friday, February 16th. Bank of America increased their price objective on shares of Arch Capital Group from $105.00 to $109.00 and gave the stock a buy rating in a research report on Tuesday, April 30th. Finally, Evercore ISI lifted their target price on shares of Arch Capital Group from $98.00 to $100.00 and gave the company an in-line rating in a report on Tuesday, April 30th. Five analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of Moderate Buy and an average target price of $100.67.

Arch Capital Group Price Performance

Shares of NASDAQ:ACGL opened at $103.36 on Friday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.59 and a current ratio of 0.59. Arch Capital Group has a one year low of $69.05 and a one year high of $103.79. The business’s fifty day moving average price is $94.47 and its two-hundred day moving average price is $86.37. The stock has a market cap of $38.81 billion, a PE ratio of 8.16, a price-to-earnings-growth ratio of 2.39 and a beta of 0.57.

Arch Capital Group (NASDAQ:ACGL) last announced its earnings results on Monday, April 29th. The insurance provider reported $2.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.06 by $0.39. Arch Capital Group had a net margin of 33.65% and a return on equity of 21.85%. The firm had revenue of $4.09 billion for the quarter, compared to analyst estimates of $3.77 billion. During the same quarter last year, the business earned $1.73 earnings per share. Arch Capital Group’s revenue was up 19.3% compared to the same quarter last year. On average, analysts forecast that Arch Capital Group will post 8.55 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Maamoun Rajeh sold 50,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $87.48, for a total transaction of $4,374,000.00. Following the sale, the chief executive officer now owns 336,170 shares of the company’s stock, valued at $29,408,151.60. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Arch Capital Group news, CEO Maamoun Rajeh sold 50,000 shares of the business’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $87.48, for a total value of $4,374,000.00. Following the sale, the chief executive officer now directly owns 336,170 shares in the company, valued at $29,408,151.60. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO David Gansberg sold 10,000 shares of the firm’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $96.64, for a total transaction of $966,400.00. Following the transaction, the chief executive officer now owns 228,035 shares of the company’s stock, valued at approximately $22,037,302.40. The disclosure for this sale can be found here. In the last quarter, insiders sold 145,689 shares of company stock worth $12,838,617. 4.20% of the stock is owned by company insiders.

Institutional Investors Weigh In On Arch Capital Group

A number of institutional investors and hedge funds have recently modified their holdings of the stock. DekaBank Deutsche Girozentrale increased its position in shares of Arch Capital Group by 6.0% in the third quarter. DekaBank Deutsche Girozentrale now owns 205,548 shares of the insurance provider’s stock worth $16,756,000 after acquiring an additional 11,594 shares in the last quarter. SG Americas Securities LLC grew its position in Arch Capital Group by 601.1% during the 4th quarter. SG Americas Securities LLC now owns 141,370 shares of the insurance provider’s stock worth $10,500,000 after purchasing an additional 121,206 shares in the last quarter. Treasurer of the State of North Carolina raised its stake in Arch Capital Group by 0.7% during the 3rd quarter. Treasurer of the State of North Carolina now owns 209,153 shares of the insurance provider’s stock valued at $16,672,000 after purchasing an additional 1,504 shares during the period. Millington Financial Advisors LLC acquired a new stake in shares of Arch Capital Group in the third quarter worth $1,030,000. Finally, Wedge Capital Management L L P NC grew its holdings in shares of Arch Capital Group by 28.9% during the fourth quarter. Wedge Capital Management L L P NC now owns 205,698 shares of the insurance provider’s stock valued at $15,277,000 after buying an additional 46,089 shares in the last quarter. 89.07% of the stock is owned by institutional investors and hedge funds.

Arch Capital Group Company Profile

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.