Bank of America Has Lowered Expectations for Arch Capital Group (NASDAQ:ACGL) Stock Price

Arch Capital Group (NASDAQ:ACGL) had its target price trimmed by Bank of America from $143.00 to $136.00 in a research report sent to investors on Friday,Benzinga reports. The brokerage currently has a buy rating on the insurance provider’s stock.

Several other research analysts have also recently issued reports on ACGL. JMP Securities raised their target price on shares of Arch Capital Group from $115.00 to $125.00 and gave the stock a “market outperform” rating in a report on Tuesday, October 15th. Evercore ISI boosted their price objective on Arch Capital Group from $104.00 to $107.00 and gave the company an “in-line” rating in a report on Wednesday, October 9th. JPMorgan Chase & Co. upped their target price on Arch Capital Group from $108.00 to $110.00 and gave the stock a “neutral” rating in a research note on Thursday, October 10th. Barclays assumed coverage on Arch Capital Group in a research report on Wednesday, September 4th. They set an “equal weight” rating and a $120.00 price target for the company. Finally, Royal Bank of Canada lowered their price objective on Arch Capital Group from $128.00 to $125.00 and set an “outperform” rating on the stock in a research report on Friday, November 1st. Six investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $118.94.

Arch Capital Group Stock Performance

ACGL traded up $1.78 on Friday, reaching $101.83. 2,727,138 shares of the stock were exchanged, compared to its average volume of 1,676,880. The company’s 50-day moving average price is $108.03 and its 200 day moving average price is $103.24. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.58 and a quick ratio of 0.58. The firm has a market capitalization of $38.31 billion, a PE ratio of 6.83, a PEG ratio of 1.46 and a beta of 0.61. Arch Capital Group has a fifty-two week low of $72.85 and a fifty-two week high of $116.47.

Arch Capital Group (NASDAQ:ACGL) last issued its earnings results on Wednesday, October 30th. The insurance provider reported $1.99 EPS for the quarter, beating 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 for the quarter, compared to analyst estimates of $4.05 billion. During the same quarter in the prior year, the firm earned $2.31 earnings per share. As a group, sell-side analysts forecast that Arch Capital Group will post 9.02 EPS for the current fiscal year.

Arch Capital Group Announces Dividend

The company also recently announced a special dividend, which will be paid on Wednesday, December 4th. Shareholders of record on Monday, November 18th will be issued a dividend of $5.00 per share. The ex-dividend date of this dividend is Monday, November 18th.

Institutional Investors Weigh In On Arch Capital Group

A number of large investors have recently modified their holdings of the business. Farther Finance Advisors LLC boosted its stake in Arch Capital Group by 12.8% during the third quarter. Farther Finance Advisors LLC now owns 890 shares of the insurance provider’s stock worth $100,000 after buying an additional 101 shares during the last quarter. Fiduciary Financial Group LLC increased its position in Arch Capital Group by 2.8% during the third quarter. Fiduciary Financial Group LLC now owns 3,779 shares of the insurance provider’s stock worth $415,000 after purchasing an additional 103 shares during the last quarter. Baldwin Brothers LLC MA raised its stake in Arch Capital Group by 50.7% during the second quarter. Baldwin Brothers LLC MA now owns 309 shares of the insurance provider’s stock worth $31,000 after purchasing an additional 104 shares during the period. Fidelis Capital Partners LLC boosted its holdings in Arch Capital Group by 3.1% in the 2nd quarter. Fidelis Capital Partners LLC now owns 3,553 shares of the insurance provider’s stock valued at $344,000 after purchasing an additional 106 shares during the last quarter. Finally, KG&L Capital Management LLC boosted its holdings in Arch Capital Group by 1.1% in the 3rd quarter. KG&L Capital Management LLC now owns 10,854 shares of the insurance provider’s stock valued at $1,214,000 after purchasing an additional 115 shares during the last quarter. Hedge funds and other institutional investors own 89.07% of the company’s stock.

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.