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

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

A number of other equities research analysts have also recently issued reports on ACGL. Evercore ISI boosted their price objective on Arch Capital Group from $104.00 to $107.00 and gave the stock an “in-line” rating in a report on Wednesday, October 9th. Jefferies Financial Group boosted their price objective on Arch Capital Group from $114.00 to $134.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Barclays initiated coverage on Arch Capital Group in a report on Wednesday, September 4th. They set an “equal weight” rating and a $120.00 price objective for the company. Keefe, Bruyette & Woods boosted their price objective on Arch Capital Group from $120.00 to $121.00 and gave the stock an “outperform” rating in a report on Wednesday, August 7th. Finally, Wells Fargo & Company boosted their price objective on Arch Capital Group from $110.00 to $126.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. Five research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, Arch Capital Group currently has an average rating of “Moderate Buy” and an average price target of $119.53.

Arch Capital Group Trading Down 1.6 %

Arch Capital Group stock opened at $105.30 on Thursday. Arch Capital Group has a 52 week low of $72.85 and a 52 week high of $116.47. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.60 and a current ratio of 0.60. The stock has a market capitalization of $39.54 billion, a P/E ratio of 8.31, a PEG ratio of 2.00 and a beta of 0.59. The stock has a 50-day simple moving average of $110.75 and a 200 day simple moving average of $102.47.

Arch Capital Group (NASDAQ:ACGL) last posted its quarterly earnings results on Tuesday, July 30th. The insurance provider reported $2.57 EPS for the quarter, topping analysts’ consensus estimates of $2.21 by $0.36. Arch Capital Group had a return on equity of 21.42% and a net margin of 35.19%. The business had revenue of $3.78 billion during the quarter, compared to analysts’ expectations of $3.89 billion. During the same quarter last year, the company posted $1.92 earnings per share. Arch Capital Group’s quarterly revenue was up 10.3% on a year-over-year basis. Analysts expect that Arch Capital Group will post 9.06 earnings per share for the current year.

Insider Buying and Selling at Arch Capital Group

In other Arch Capital Group news, CFO Francois Morin sold 11,460 shares of the business’s stock in a transaction that occurred on 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 transaction, the chief financial officer now directly owns 221,779 shares in the company, valued at $22,723,476.34. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 4.20% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in Arch Capital Group by 0.3% during 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 in the last quarter. Principal Financial Group Inc. increased its holdings in shares of Arch Capital Group by 4.4% during the second quarter. Principal Financial Group Inc. now owns 7,100,952 shares of the insurance provider’s stock worth $716,415,000 after buying an additional 300,716 shares in the last quarter. Allspring Global Investments Holdings LLC increased its holdings in shares of Arch Capital Group by 1.0% during the third quarter. Allspring Global Investments Holdings LLC now owns 5,124,251 shares of the insurance provider’s stock worth $573,301,000 after buying an additional 49,426 shares in the last quarter. Capital International Investors increased its holdings in shares of Arch Capital Group by 61.1% during the first quarter. Capital International Investors now owns 4,112,577 shares of the insurance provider’s stock worth $380,167,000 after buying an additional 1,560,173 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Arch Capital Group by 6.6% during the second quarter. Dimensional Fund Advisors LP now owns 3,925,288 shares of the insurance provider’s stock worth $396,026,000 after buying an additional 244,285 shares in the last quarter. 89.07% of the stock is currently owned by institutional investors and hedge funds.

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.