Morgan Stanley Cuts Arch Capital Group (NASDAQ:ACGL) Price Target to $105.00

Arch Capital Group (NASDAQ:ACGL) had its price target lowered by Morgan Stanley from $111.00 to $105.00 in a research report sent to investors on Tuesday,Benzinga reports. The firm currently has an overweight rating on the insurance provider’s stock.

Other equities research analysts have also issued research reports about the stock. Cantor Fitzgerald boosted their price objective on shares of Arch Capital Group from $102.00 to $110.00 and gave the stock a “neutral” rating in a research note on Monday, August 3rd. UBS Group reaffirmed a “buy” rating and set a $120.00 target price (up from $114.00) on shares of Arch Capital Group in a research note on Wednesday, July 8th. Weiss Ratings lowered shares of Arch Capital Group from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, September 24th. Citigroup reissued a “market outperform” rating on shares of Arch Capital Group in a research report on Wednesday, July 29th. Finally, 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. Six analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Arch Capital Group has an average rating of “Hold” and a consensus target price of $110.11.

Arch Capital Group Stock Up 1.9%

NASDAQ ACGL opened at $96.08 on Tuesday. Arch Capital Group has a 1 year low of $82.44 and a 1 year high of $107.08. The stock has a market capitalization of $32.79 billion, a PE ratio of 7.51, a PEG ratio of 2.89 and a beta of 0.28. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.57 and a quick ratio of 0.57. The business’s 50-day moving average is $97.37 and its 200 day moving average is $96.55.

Arch Capital Group (NASDAQ:ACGL) last issued its quarterly earnings data on Tuesday, July 28th. The insurance provider reported $2.56 EPS for the quarter, topping the consensus estimate of $2.47 by $0.09. Arch Capital Group had a net margin of 24.40% and a return on equity of 17.06%. The business had revenue of $4.67 billion during the quarter, compared to analyst estimates of $4.36 billion. During the same period in the prior year, the business earned $2.58 EPS. Sell-side analysts forecast that Arch Capital Group will post 9.5 earnings per share for the current year.

Insider Activity

In other news, CFO Francois Morin sold 11,010 shares of Arch Capital Group stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $99.32, for a total value of $1,093,513.20. Following the completion of the sale, the chief financial officer directly owned 184,826 shares in the company, valued at $18,356,918.32. The trade was a 5.62% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 3.30% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ACGL. Assenagon Asset Management S.A. boosted its stake in shares of Arch Capital Group by 295.6% in the 2nd quarter. Assenagon Asset Management S.A. now owns 50,073 shares of the insurance provider’s stock worth $4,860,000 after buying an additional 37,416 shares during the last quarter. Sequoia Financial Advisors LLC grew its holdings in shares of Arch Capital Group by 29.7% in the second quarter. Sequoia Financial Advisors LLC now owns 46,100 shares of the insurance provider’s stock worth $4,474,000 after acquiring an additional 10,562 shares during the period. Weiss Asset Management LP increased its position in Arch Capital Group by 88.5% during the first quarter. Weiss Asset Management LP now owns 42,300 shares of the insurance provider’s stock valued at $4,060,000 after acquiring an additional 19,860 shares during the last quarter. Triad Investment Management purchased a new stake in Arch Capital Group during the second quarter valued at $2,030,000. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in Arch Capital Group during the second quarter valued at $20,286,000. Institutional investors own 89.07% of the company’s stock.

Arch Capital Group Company Profile

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.