Arch Capital Group (NASDAQ:ACGL) Stock Price Target Lowered at Cantor Fitzgerald

Arch Capital Group (NASDAQ:ACGL) had its price objective reduced by equities research analysts at Cantor Fitzgerald from $110.00 to $105.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm currently has a “neutral” rating on the insurance provider’s stock. Cantor Fitzgerald’s price objective indicates a potential upside of 10.74% from the stock’s previous close.

Other equities research analysts also recently issued research reports about the stock. Keefe, Bruyette & Woods dropped their target price on shares of Arch Capital Group from $102.00 to $99.00 and set a “market perform” rating for the company in a research report on Wednesday, July 8th. Citigroup reaffirmed a “market outperform” rating on shares of Arch Capital Group in a research report on Wednesday, July 29th. Mizuho set a $100.00 price target on Arch Capital Group and gave the stock a “neutral” rating in a research note on Wednesday, September 16th. Royal Bank Of Canada reissued an “outperform” rating and issued a $120.00 price objective (up from $115.00) on shares of Arch Capital Group in a report on Thursday, July 30th. Finally, Weiss Ratings cut Arch Capital Group from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, September 24th. Six investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $110.11.

Arch Capital Group Trading Up 0.5%

NASDAQ:ACGL opened at $94.82 on Wednesday. The business’s 50-day simple moving average is $97.68 and its 200 day simple moving average is $96.51. Arch Capital Group has a one year low of $82.44 and a one year high of $107.08. The stock has a market cap of $32.36 billion, a price-to-earnings ratio of 7.41, a price-to-earnings-growth ratio of 2.89 and a beta of 0.28. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.57 and a current ratio of 0.57.

Arch Capital Group (NASDAQ:ACGL) last released its earnings results on Tuesday, July 28th. The insurance provider reported $2.56 EPS for the quarter, beating the consensus estimate of $2.47 by $0.09. Arch Capital Group had a return on equity of 17.06% and a net margin of 24.40%.The company had revenue of $4.67 billion during the quarter, compared to analysts’ expectations of $4.36 billion. During the same period in the prior year, the business posted $2.58 EPS. As a group, sell-side analysts predict that Arch Capital Group will post 9.51 earnings per share for the current fiscal year.

Insider Buying and Selling at Arch Capital Group

In related news, CFO Francois Morin sold 11,010 shares of the stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $99.32, for a total transaction of $1,093,513.20. Following the sale, the chief financial officer owned 184,826 shares in the company, valued at $18,356,918.32. This represents a 5.62% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 3.30% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Arch Capital Group

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Dimensional Fund Advisors LP lifted its holdings in shares of Arch Capital Group by 2.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 4,173,885 shares of the insurance provider’s stock worth $400,643,000 after purchasing an additional 117,929 shares during the last quarter. Madison Asset Management LLC bought a new position in Arch Capital Group during the 2nd quarter worth $368,808,000. First Trust Advisors LP increased its position in Arch Capital Group by 319.5% in the first quarter. First Trust Advisors LP now owns 2,626,148 shares of the insurance provider’s stock worth $252,084,000 after buying an additional 2,000,162 shares during the period. Arrowstreet Capital Limited Partnership increased its position in Arch Capital Group by 50.6% in the first quarter. Arrowstreet Capital Limited Partnership now owns 1,910,063 shares of the insurance provider’s stock worth $183,347,000 after buying an additional 641,462 shares during the period. Finally, Brandes Investment Partners LP lifted its stake in Arch Capital Group by 13.5% in the fourth quarter. Brandes Investment Partners LP now owns 1,710,565 shares of the insurance provider’s stock valued at $164,078,000 after buying an additional 204,082 shares during the last quarter. 89.07% of the stock is currently owned by institutional investors and hedge funds.

About Arch Capital Group

Arch Capital Group Ltd. is a Bermuda-based insurance, reinsurance and mortgage insurance company whose shares trade on the Nasdaq under the symbol ACGL. The company was established in 1995 and has developed into a global provider of specialty risk-management products and services.

Through its insurance operations, Arch offers property, casualty, specialty, and accident and health coverage to businesses and other policyholders. Its reinsurance operations provide coverage and risk-transfer solutions to insurance companies across a range of property and casualty lines.