JPMorgan Chase & Co. Cuts Arch Capital Group (NASDAQ:ACGL) Price Target to $106.00

Arch Capital Group (NASDAQ:ACGL) had its target price decreased by JPMorgan Chase & Co. from $110.00 to $106.00 in a research note issued to investors on Friday,Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the insurance provider’s stock.

A number of other research firms have also issued reports on ACGL. TD Cowen lifted their target price on Arch Capital Group from $116.00 to $138.00 and gave the stock a “buy” rating in a report on Friday, September 20th. JMP Securities lifted their price objective on shares of Arch Capital Group from $115.00 to $125.00 and gave the stock a “market outperform” rating in a research note on Tuesday, October 15th. Jefferies Financial Group increased their target price on shares of Arch Capital Group from $114.00 to $134.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Wells Fargo & Company decreased their price target on shares of Arch Capital Group from $118.00 to $109.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 19th. Finally, Royal Bank of Canada dropped their price target on Arch Capital Group from $128.00 to $125.00 and set an “outperform” rating on the stock in a report on Friday, November 1st. Six 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, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $118.13.

Arch Capital Group Trading Up 0.0 %

Shares of NASDAQ:ACGL opened at $91.40 on Friday. Arch Capital Group has a twelve month low of $74.85 and a twelve month high of $116.47. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 0.17. The firm has a market cap of $34.39 billion, a P/E ratio of 6.13, a P/E/G ratio of 1.49 and a beta of 0.62. The company has a 50 day moving average of $96.72 and a 200-day moving average of $102.16.

Arch Capital Group (NASDAQ:ACGL) last released its earnings results on Wednesday, October 30th. The insurance provider reported $1.99 earnings per share for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $4.05 billion. During the same period in the prior year, the firm posted $2.31 earnings per share. As a group, analysts anticipate that Arch Capital Group will post 8.99 earnings per share for the current fiscal year.

Arch Capital Group Announces Dividend

The firm also recently announced a special dividend, which was paid on Wednesday, December 4th. Stockholders of record on Monday, November 18th were issued a $5.00 dividend. The ex-dividend date was Monday, November 18th.

Institutional Trading of Arch Capital Group

Several institutional investors have recently made changes to their positions in the stock. Everence Capital Management Inc. lifted its position in Arch Capital Group by 239.9% in the 4th quarter. Everence Capital Management Inc. now owns 19,580 shares of the insurance provider’s stock worth $1,808,000 after buying an additional 13,820 shares in the last quarter. Oddo BHF Asset Management Sas acquired a new position in shares of Arch Capital Group in the third quarter worth $1,846,000. Franklin Resources Inc. raised its holdings in shares of Arch Capital Group by 10.1% during the third quarter. Franklin Resources Inc. now owns 608,467 shares of the insurance provider’s stock worth $67,595,000 after acquiring an additional 55,939 shares in the last quarter. Synovus Financial Corp grew its stake in Arch Capital Group by 12.7% in the third quarter. Synovus Financial Corp now owns 4,601 shares of the insurance provider’s stock valued at $515,000 after purchasing an additional 519 shares in the last quarter. Finally, Tidal Investments LLC grew its stake in Arch Capital Group by 19.6% in the third quarter. Tidal Investments LLC now owns 24,505 shares of the insurance provider’s stock valued at $2,742,000 after purchasing an additional 4,022 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.