Arch Capital Group (NASDAQ:ACGL – Get Rating) was upgraded by equities researchers at StockNews.com from a "hold" rating to a "buy" rating in a research report issued to clients and investors on Wednesday.
Separately, Barclays cut their target price on shares of Arch Capital Group from $54.00 to $52.00 and set an "overweight" rating on the stock in a research note on Thursday, July 14th. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, Arch Capital Group has a consensus rating of "Moderate Buy" and a consensus price target of $53.38.
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Arch Capital Group Stock Down 3.5 %
ACGL stock traded down $1.63 during trading on Wednesday, reaching $44.80. The stock had a trading volume of 1,304,316 shares, compared to its average volume of 1,772,345. Arch Capital Group has a 1-year low of $37.44 and a 1-year high of $50.73. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 0.26. The company has a market capitalization of $16.54 billion, a P/E ratio of 10.98, a PEG ratio of 1.02 and a beta of 0.73. The firm has a fifty day moving average price of $45.44 and a 200 day moving average price of $45.98.
Arch Capital Group (NASDAQ:ACGL – Get Rating) last issued its quarterly earnings data on Wednesday, July 27th. The insurance provider reported $1.34 EPS for the quarter, topping analysts' consensus estimates of $1.09 by $0.25. Arch Capital Group had a net
margin of 19.06% and a return on equity of 14.45%. The firm had revenue of $2.68 billion for the quarter, compared to analyst estimates of $2.51 billion. During the same quarter in the previous year, the business posted $1.00 EPS. The firm's revenue was up 11.9% compared to the same quarter last year. On average, equities analysts anticipate that Arch Capital Group will post 4.64 earnings per share for the current year.
Insiders Place Their Bets
In other news, CFO Francois Morin sold 16,885 shares of the stock in a transaction that occurred on Friday, August 12th. The shares were sold at an average price of $46.92, for a total value of $792,244.20. Following the completion of the transaction, the chief financial officer now directly owns 193,259 shares in the company, valued at $9,067,712.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CFO Francois Morin sold 16,885 shares of the stock in a transaction that occurred on Friday, August 12th. The shares were sold at an average price of $46.92, for a total value of $792,244.20. Following the completion of the transaction, the chief financial officer now directly owns 193,259 shares in the company, valued at $9,067,712.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Louis T. Petrillo sold 16,023 shares of the stock in a transaction that occurred on Thursday, August 11th. The shares were sold at an average price of $45.83, for a total transaction of $734,334.09. Following the completion of the transaction, the insider now owns 105,274 shares of the company's stock, valued at $4,824,707.42. The disclosure for this sale can be found here. In the last 90 days, insiders sold 40,546 shares of company stock worth $1,883,120. Insiders own 4.20% of the company's stock.
Institutional Trading of Arch Capital Group
A number of large investors have recently added to or reduced their stakes in the business. Private Trust Co. NA bought a new stake in Arch Capital Group during the second quarter worth approximately $36,000. Verition Fund Management LLC boosted its holdings in Arch Capital Group by 43.3% during the second quarter. Verition Fund Management LLC now owns 32,487 shares of the insurance provider's stock worth $1,478,000 after buying an additional 9,814 shares in the last quarter. Summit Global Investments boosted its holdings in Arch Capital Group by 1.8% during the second quarter. Summit Global Investments now owns 262,390 shares of the insurance provider's stock worth $11,936,000 after buying an additional 4,632 shares in the last quarter. Captrust Financial Advisors boosted its holdings in Arch Capital Group by 131.5% during the second quarter. Captrust Financial Advisors now owns 8,978 shares of the insurance provider's stock worth $408,000 after buying an additional 5,100 shares in the last quarter. Finally, Legal & General Group Plc lifted its position in shares of Arch Capital Group by 19.3% in the 2nd quarter. Legal & General Group Plc now owns 2,982,664 shares of the insurance provider's stock valued at $135,682,000 after acquiring an additional 481,700 shares in the last quarter. 87.61% of the stock is currently owned by institutional investors.
Arch Capital Group Company Profile
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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; 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.
Further Reading
- Get a free copy of the StockNews.com research report on Arch Capital Group (ACGL)
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