Citigroup Initiates Coverage on Arch Capital Group (NASDAQ:ACGL)

Stock analysts at Citigroup began coverage on shares of Arch Capital Group (NASDAQ:ACGL) in a research note issued to investors on Wednesday, MarketBeat Ratings reports. The firm set a “buy” rating and a $113.00 price target on the insurance provider’s stock. Citigroup’s price target indicates a potential upside of 23.55% from the company’s current price.

Other equities research analysts also recently issued research reports about the stock. Jefferies Financial Group downgraded shares of Arch Capital Group from a “buy” rating to a “hold” rating and reduced their target price for the company from $106.00 to $100.00 in a research note on Tuesday, June 10th. JMP Securities restated a “market outperform” rating and issued a $125.00 target price on shares of Arch Capital Group in a research note on Wednesday, April 30th. Keefe, Bruyette & Woods boosted their target price on shares of Arch Capital Group from $101.00 to $102.00 and gave the company a “market perform” rating in a research note on Tuesday, August 5th. Cowen restated a “buy” rating on shares of Arch Capital Group in a research note on Monday, August 4th. Finally, UBS Group restated a “buy” rating and issued a $118.00 target price (down previously from $124.00) on shares of Arch Capital Group in a research note on Monday, August 4th. Eight equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $112.13.

Arch Capital Group Stock Up 1.7%

ACGL opened at $91.46 on Wednesday. Arch Capital Group has a fifty-two week low of $82.49 and a fifty-two week high of $116.47. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.56 and a quick ratio of 0.56. The firm’s fifty day moving average price is $89.40 and its two-hundred day moving average price is $91.29. The company has a market capitalization of $34.13 billion, a P/E ratio of 9.44, a P/E/G ratio of 5.52 and a beta of 0.49.

Arch Capital Group (NASDAQ:ACGL) last posted its quarterly earnings results on Tuesday, July 29th. The insurance provider reported $2.58 earnings per share for the quarter, topping analysts’ consensus estimates of $2.30 by $0.28. Arch Capital Group had a net margin of 19.49% and a return on equity of 15.33%. The firm had revenue of $4.35 billion for the quarter, compared to the consensus estimate of $4.29 billion. During the same quarter in the previous year, the company earned $2.57 earnings per share. On average, analysts anticipate that Arch Capital Group will post 8.42 EPS for the current year.

Institutional Trading of Arch Capital Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Capital A Wealth Management LLC acquired a new position in shares of Arch Capital Group during the 4th quarter worth about $25,000. Bartlett & CO. Wealth Management LLC acquired a new position in shares of Arch Capital Group during the 1st quarter worth about $27,000. Meeder Asset Management Inc. grew its position in shares of Arch Capital Group by 116.3% during the 1st quarter. Meeder Asset Management Inc. now owns 279 shares of the insurance provider’s stock worth $27,000 after buying an additional 150 shares during the period. Wayfinding Financial LLC acquired a new position in shares of Arch Capital Group during the 1st quarter worth about $31,000. Finally, Zions Bancorporation National Association UT acquired a new position in shares of Arch Capital Group during the 1st quarter worth about $37,000. 89.07% of the stock is owned by institutional investors.

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.