Arch Capital Group (ACGL) Rating Increased to Hold at BidaskClub

BidaskClub upgraded shares of Arch Capital Group (NASDAQ:ACGL) from a sell rating to a hold rating in a report published on Thursday.

ACGL has been the topic of several other reports. TheStreet upgraded shares of Arch Capital Group from a c rating to a b- rating in a research note on Monday, July 30th. Credit Suisse Group began coverage on shares of Arch Capital Group in a research note on Tuesday, August 7th. They issued a neutral rating and a $34.00 price target on the stock. Royal Bank of Canada reiterated a buy rating on shares of Arch Capital Group in a research note on Thursday, August 2nd. Morgan Stanley set a $22.00 price target on shares of Arch Capital Group and gave the company a hold rating in a research note on Wednesday, November 14th. Finally, Bank of America increased their price objective on Arch Capital Group from $28.00 to $30.00 and gave the company an underperform rating in a report on Wednesday, August 1st. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the company. Arch Capital Group presently has a consensus rating of Hold and a consensus target price of $26.70.

Shares of Arch Capital Group stock opened at $28.26 on Thursday. The company has a market capitalization of $11.44 billion, a price-to-earnings ratio of 26.41, a P/E/G ratio of 1.15 and a beta of 0.66. Arch Capital Group has a 52 week low of $25.71 and a 52 week high of $32.37. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.75 and a current ratio of 0.53.

Arch Capital Group (NASDAQ:ACGL) last announced its quarterly earnings results on Tuesday, October 30th. The insurance provider reported $0.59 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.52 by $0.07. The company had revenue of $1.33 billion for the quarter, compared to analyst estimates of $1.19 billion. Arch Capital Group had a net margin of 15.15% and a return on equity of 10.30%. The firm’s revenue was up .6% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.13) earnings per share. Analysts anticipate that Arch Capital Group will post 2.23 EPS for the current fiscal year.

In other news, SVP W Preston Hutchings sold 15,000 shares of the stock in a transaction that occurred on Wednesday, September 12th. The stock was sold at an average price of $30.00, for a total value of $450,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Yiorgos Lillikas sold 2,000 shares of the stock in a transaction that occurred on Wednesday, October 31st. The shares were sold at an average price of $28.49, for a total value of $56,980.00. The disclosure for this sale can be found here. Insiders sold 37,073 shares of company stock valued at $1,113,916 over the last three months. Corporate insiders own 5.10% of the company’s stock.

Several hedge funds have recently bought and sold shares of ACGL. Artisan Partners Limited Partnership boosted its holdings in shares of Arch Capital Group by 200.9% in the second quarter. Artisan Partners Limited Partnership now owns 54,463,667 shares of the insurance provider’s stock valued at $1,441,109,000 after acquiring an additional 36,361,761 shares during the period. BlackRock Inc. lifted its holdings in shares of Arch Capital Group by 195.1% during the second quarter. BlackRock Inc. now owns 26,041,657 shares of the insurance provider’s stock worth $689,063,000 after purchasing an additional 17,217,697 shares during the period. Capital International Investors acquired a new stake in shares of Arch Capital Group during the third quarter worth $393,068,000. Wells Fargo & Company MN lifted its holdings in shares of Arch Capital Group by 233.0% during the second quarter. Wells Fargo & Company MN now owns 10,750,739 shares of the insurance provider’s stock worth $284,465,000 after purchasing an additional 7,522,724 shares during the period. Finally, Renaissance Technologies LLC lifted its holdings in shares of Arch Capital Group by 200.9% during the second quarter. Renaissance Technologies LLC now owns 6,255,400 shares of the insurance provider’s stock worth $165,518,000 after purchasing an additional 4,176,300 shares during the period. 80.34% of the stock is owned by institutional investors and hedge funds.

About Arch Capital Group

Arch Capital Group Ltd., together with its subsidiaries, provides property, casualty, and mortgage insurance and reinsurance products worldwide. The company's Insurance segment offers primary and excess casualty coverages; loss sensitive primary casualty insurance programs; collateral protection, debt cancellation, and service contract reimbursement products; 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.

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Analyst Recommendations for Arch Capital Group (NASDAQ:ACGL)

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