Arch Capital Group (NASDAQ:ACGL) Cut to Hold at BidaskClub

June 27th, 2020 – Comments Off on Arch Capital Group (NASDAQ:ACGL) Cut to Hold at BidaskClubFiled Under
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Arch Capital Group Ltd. logoBidaskClub downgraded shares of Arch Capital Group (NASDAQ:ACGL) from a buy rating to a hold rating in a report released on Tuesday morning, BidAskClub reports.

A number of other brokerages have also recently weighed in on ACGL. Wells Fargo & Co reduced their target price on shares of Arch Capital Group from $40.00 to $34.00 and set an overweight rating for the company in a report on Wednesday, May 6th. Zacks Investment Research upgraded shares of Arch Capital Group from a strong sell rating to a hold rating and set a $25.00 price target for the company in a research report on Wednesday, May 27th. JPMorgan Chase & Co. reduced their price target on shares of Arch Capital Group from $34.00 to $30.00 and set a neutral rating for the company in a research report on Tuesday, May 5th. Morgan Stanley reduced their price target on shares of Arch Capital Group from $32.00 to $29.00 and set an equal weight rating for the company in a research report on Monday, May 18th. Finally, Deutsche Bank reduced their price target on shares of Arch Capital Group from $47.00 to $40.00 and set a buy rating for the company in a research report on Tuesday, April 14th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and eight have given a buy rating to the company. The stock has a consensus rating of Buy and a consensus target price of $39.33.

Shares of NASDAQ:ACGL opened at $27.70 on Tuesday. The stock has a market capitalization of $11.54 billion, a price-to-earnings ratio of 8.88, a PEG ratio of 3.32 and a beta of 0.73. Arch Capital Group has a 1-year low of $20.93 and a 1-year high of $48.32. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.52 and a current ratio of 0.52. The company has a 50 day moving average price of $28.75 and a 200 day moving average price of $35.43.

Arch Capital Group (NASDAQ:ACGL) last issued its earnings results on Monday, May 4th. The insurance provider reported $0.46 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.54 by ($0.08). The business had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.52 billion. Arch Capital Group had a return on equity of 9.93% and a net margin of 19.61%. During the same quarter in the previous year, the business posted $0.67 earnings per share. On average, sell-side analysts expect that Arch Capital Group will post 0.86 EPS for the current fiscal year.

In other news, SVP W Preston Hutchings sold 100,000 shares of the stock in a transaction on Thursday, May 7th. The shares were sold at an average price of $24.28, for a total transaction of $2,428,000.00. Following the transaction, the senior vice president now owns 51,377 shares in the company, valued at approximately $1,247,433.56. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Marc Grandisson purchased 23,500 shares of the company’s stock in a transaction dated Monday, May 18th. The shares were acquired at an average price of $26.37 per share, for a total transaction of $619,695.00. In the last quarter, insiders acquired 25,500 shares of company stock valued at $665,575. Insiders own 3.40% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in ACGL. Victory Capital Management Inc. increased its stake in shares of Arch Capital Group by 5.7% during the 4th quarter. Victory Capital Management Inc. now owns 475,073 shares of the insurance provider’s stock worth $20,376,000 after purchasing an additional 25,443 shares during the last quarter. Oppenheimer Asset Management Inc. grew its stake in Arch Capital Group by 2.8% in the 4th quarter. Oppenheimer Asset Management Inc. now owns 15,654 shares of the insurance provider’s stock valued at $672,000 after buying an additional 428 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in Arch Capital Group by 1.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,140,435 shares of the insurance provider’s stock valued at $48,914,000 after buying an additional 12,074 shares during the last quarter. Comerica Bank grew its stake in Arch Capital Group by 5.6% in the 4th quarter. Comerica Bank now owns 14,579 shares of the insurance provider’s stock valued at $648,000 after buying an additional 773 shares during the last quarter. Finally, Tower Research Capital LLC TRC grew its stake in Arch Capital Group by 45.3% in the 4th quarter. Tower Research Capital LLC TRC now owns 4,167 shares of the insurance provider’s stock valued at $179,000 after buying an additional 1,300 shares during the last quarter. Institutional investors own 77.77% of the company’s stock.

Arch Capital Group Company Profile

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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