Arch Capital Group (NASDAQ:ACGL) Price Target Lowered to $124.00 at UBS Group

Arch Capital Group (NASDAQ:ACGL - Free Report) had its price target lowered by UBS Group from $127.00 to $124.00 in a research report sent to investors on Wednesday,Benzinga reports. The brokerage currently has a buy rating on the insurance provider's stock.

A number of other brokerages have also weighed in on ACGL. Barclays dropped their target price on shares of Arch Capital Group from $120.00 to $100.00 and set an "equal weight" rating for the company in a research report on Monday, January 6th. JPMorgan Chase & Co. increased their price objective on shares of Arch Capital Group from $106.00 to $107.00 and gave the company a "neutral" rating in a report on Tuesday, April 8th. Royal Bank of Canada reduced their target price on Arch Capital Group from $125.00 to $110.00 and set an "outperform" rating on the stock in a report on Wednesday, February 12th. Morgan Stanley dropped their price target on Arch Capital Group from $115.00 to $110.00 and set an "overweight" rating for the company in a research note on Friday, February 14th. Finally, JMP Securities reaffirmed a "market outperform" rating and issued a $125.00 price objective on shares of Arch Capital Group in a research note on Tuesday, February 11th. Six equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, Arch Capital Group has an average rating of "Moderate Buy" and an average target price of $114.88.

Remove Ads

Arch Capital Group Price Performance

Shares of ACGL traded up $0.74 during trading hours on Wednesday, reaching $92.87. 1,187,810 shares of the stock traded hands, compared to its average volume of 1,737,569. The company has a market cap of $34.89 billion, a P/E ratio of 8.29, a price-to-earnings-growth ratio of 2.31 and a beta of 0.36. The company has a current ratio of 0.54, a quick ratio of 0.58 and a debt-to-equity ratio of 0.15. The company's 50-day moving average price is $91.52 and its two-hundred day moving average price is $96.40. Arch Capital Group has a 52-week low of $82.49 and a 52-week high of $116.47.

Arch Capital Group (NASDAQ:ACGL - Get Free Report) last released its quarterly earnings data on Monday, February 10th. The insurance provider reported $2.26 earnings per share for the quarter, topping analysts' consensus estimates of $1.90 by $0.36. Arch Capital Group had a return on equity of 17.96% and a net margin of 24.73%. During the same period last year, the business earned $2.45 earnings per share. On average, analysts anticipate that Arch Capital Group will post 8.42 earnings per share for the current year.

Insiders Place Their Bets

In other Arch Capital Group news, insider Louis T. Petrillo sold 11,600 shares of the business's stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $91.00, for a total value of $1,055,600.00. Following the sale, the insider now owns 140,023 shares of the company's stock, valued at $12,742,093. The trade was a 7.65 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 4.20% of the company's stock.

Institutional Trading of Arch Capital Group

Large investors have recently made changes to their positions in the company. Vanguard Group Inc. lifted its stake in Arch Capital Group by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 41,999,603 shares of the insurance provider's stock valued at $3,878,663,000 after buying an additional 182,150 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Arch Capital Group by 1.7% in the fourth quarter. Geode Capital Management LLC now owns 11,010,756 shares of the insurance provider's stock valued at $1,014,648,000 after buying an additional 180,493 shares in the last quarter. Principal Financial Group Inc. raised its position in Arch Capital Group by 10.5% during the fourth quarter. Principal Financial Group Inc. now owns 8,222,244 shares of the insurance provider's stock worth $759,324,000 after acquiring an additional 783,506 shares during the last quarter. Allspring Global Investments Holdings LLC grew its holdings in Arch Capital Group by 4.4% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 5,350,868 shares of the insurance provider's stock valued at $488,992,000 after buying an additional 226,617 shares during the last quarter. Finally, Nuveen Asset Management LLC lifted its holdings in Arch Capital Group by 1.9% in the 4th quarter. Nuveen Asset Management LLC now owns 4,888,997 shares of the insurance provider's stock valued at $451,499,000 after purchasing an additional 93,226 shares in the last quarter. 89.07% of the stock is currently owned by hedge funds and other institutional investors.

Arch Capital Group Company Profile

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; 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.