Arch Capital Group (NASDAQ:ACGL) Downgraded by Buckingham Research

Buckingham Research cut shares of Arch Capital Group (NASDAQ:ACGL) from a buy rating to a neutral rating in a report issued on Friday morning, BenzingaRatingsTable reports. They currently have $38.00 price target on the insurance provider’s stock.

Several other analysts have also recently weighed in on the company. Morgan Stanley restated an overweight rating and set a GBX 460 ($6.01) price target on shares of Sophos Group in a report on Friday, May 17th. Deutsche Bank restated a hold rating and set a GBX 1,775 ($23.19) price target on shares of in a report on Wednesday, June 26th. Wells Fargo & Co restated a buy rating and set a $157.00 price target on shares of Chubb in a report on Tuesday, April 30th. BidaskClub cut Xperi from a sell rating to a strong sell rating in a report on Wednesday, June 19th. Finally, Zacks Investment Research cut Great Portland Estates from a hold rating to a sell rating in a report on Tuesday, April 16th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and three have given a buy rating to the stock. Arch Capital Group presently has an average rating of Hold and a consensus price target of $34.92.

NASDAQ:ACGL opened at $37.42 on Friday. The company has a market capitalization of $15.14 billion, a PE ratio of 17.01, a P/E/G ratio of 1.38 and a beta of 0.67. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.54 and a current ratio of 0.54. The business’s 50-day moving average price is $36.77. Arch Capital Group has a 1-year low of $24.79 and a 1-year high of $38.85.

Arch Capital Group (NASDAQ:ACGL) last released its quarterly earnings results on Tuesday, April 30th. The insurance provider reported $0.67 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.62 by $0.05. The company had revenue of $1.38 billion for the quarter, compared to analysts’ expectations of $1.28 billion. Arch Capital Group had a return on equity of 10.24% and a net margin of 17.93%. The business’s quarterly revenue was up 11.9% compared to the same quarter last year. During the same period in the previous year, the business posted $1.69 earnings per share. Equities analysts forecast that Arch Capital Group will post 2.72 earnings per share for the current fiscal year.

In related news, CEO Marc Grandisson sold 55,408 shares of the company’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $33.86, for a total value of $1,876,114.88. Following the sale, the chief executive officer now directly owns 115,487 shares in the company, valued at $3,910,389.82. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Maamoun Rajeh sold 17,712 shares of the company’s stock in a transaction that occurred on Friday, May 17th. The shares were sold at an average price of $33.71, for a total value of $597,071.52. Following the completion of the sale, the chief executive officer now owns 330,031 shares in the company, valued at $11,125,345.01. The disclosure for this sale can be found here. Insiders sold 498,343 shares of company stock worth $16,927,360 over the last quarter. 5.20% of the stock is currently owned by company insiders.

Several institutional investors have recently bought and sold shares of ACGL. Robeco Institutional Asset Management B.V. raised its position in Arch Capital Group by 32.2% in the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 853,217 shares of the insurance provider’s stock valued at $31,639,000 after buying an additional 207,621 shares during the last quarter. Genesee Capital Advisors LLC purchased a new stake in Arch Capital Group in the 2nd quarter valued at $391,000. Navellier & Associates Inc purchased a new stake in Arch Capital Group in the 2nd quarter valued at $274,000. IFM Investors Pty Ltd raised its position in Arch Capital Group by 1.2% in the 2nd quarter. IFM Investors Pty Ltd now owns 28,017 shares of the insurance provider’s stock valued at $1,039,000 after buying an additional 336 shares during the last quarter. Finally, Raymond James Trust N.A. raised its position in Arch Capital Group by 15.9% in the 2nd quarter. Raymond James Trust N.A. now owns 8,351 shares of the insurance provider’s stock valued at $310,000 after buying an additional 1,143 shares during the last quarter. Hedge funds and other institutional investors own 80.17% of the company’s stock.

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.

See Also: Gross Domestic Product (GDP)

Analyst Recommendations for Arch Capital Group (NASDAQ:ACGL)

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