Arch Capital Group (NASDAQ:ACGL) Shares Gap Down on Analyst Downgrade

Arch Capital Group Ltd. (NASDAQ:ACGL - Get Free Report) shares gapped down before the market opened on Monday after Bank of America lowered their price target on the stock from $143.00 to $136.00. The stock had previously closed at $101.83, but opened at $96.55. Bank of America currently has a buy rating on the stock. Arch Capital Group shares last traded at $96.54, with a volume of 127,243 shares traded.

Several other equities analysts also recently issued reports on the company. StockNews.com downgraded Arch Capital Group from a "buy" rating to a "hold" rating in a research report on Thursday, October 24th. Wells Fargo & Company cut their target price on Arch Capital Group from $126.00 to $118.00 and set an "overweight" rating on the stock in a research report on Monday, November 4th. TD Cowen lifted their price objective on shares of Arch Capital Group from $116.00 to $138.00 and gave the stock a "buy" rating in a research report on Friday, September 20th. Royal Bank of Canada reduced their price target on shares of Arch Capital Group from $128.00 to $125.00 and set an "outperform" rating for the company in a research report on Friday, November 1st. Finally, Roth Mkm boosted their target price on Arch Capital Group from $110.00 to $125.00 and gave the company a "buy" rating in a research note on Friday, August 23rd. Six research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. According to MarketBeat, Arch Capital Group presently has a consensus rating of "Moderate Buy" and an average price target of $118.94.

Hedge Funds Weigh In On Arch Capital Group

A number of institutional investors and hedge funds have recently bought and sold shares of ACGL. Blair William & Co. IL increased its holdings in Arch Capital Group by 6.9% in the 1st quarter. Blair William & Co. IL now owns 4,414 shares of the insurance provider's stock valued at $408,000 after buying an additional 286 shares during the period. TIAA Trust National Association acquired a new stake in Arch Capital Group in the 1st quarter valued at $263,000. Covestor Ltd grew its position in Arch Capital Group by 86.8% in the first quarter. Covestor Ltd now owns 2,077 shares of the insurance provider's stock valued at $192,000 after acquiring an additional 965 shares during the period. UniSuper Management Pty Ltd raised its stake in Arch Capital Group by 346.9% during the first quarter. UniSuper Management Pty Ltd now owns 15,365 shares of the insurance provider's stock worth $1,420,000 after acquiring an additional 11,927 shares in the last quarter. Finally, Atlanta Consulting Group Advisors LLC bought a new position in shares of Arch Capital Group during the first quarter valued at $233,000. Institutional investors own 89.07% of the company's stock.

Arch Capital Group Price Performance

The company has a market cap of $36.49 billion, a price-to-earnings ratio of 6.83, a P/E/G ratio of 1.47 and a beta of 0.61. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.58 and a current ratio of 0.58. The company's 50 day moving average price is $108.03 and its 200 day moving average price is $103.36.

Arch Capital Group (NASDAQ:ACGL - Get Free Report) last issued its quarterly earnings data on Wednesday, October 30th. The insurance provider reported $1.99 earnings per share for the quarter, topping the consensus estimate of $1.94 by $0.05. Arch Capital Group had a net margin of 33.86% and a return on equity of 18.94%. The firm had revenue of $4.72 billion for the quarter, compared to analysts' expectations of $4.05 billion. During the same period in the prior year, the firm earned $2.31 earnings per share. On average, equities research analysts predict that Arch Capital Group Ltd. will post 9.01 earnings per share for the current fiscal year.

Arch Capital Group Dividend Announcement

The firm also recently disclosed a special dividend, which will be paid on Wednesday, December 4th. Shareholders of record on Monday, November 18th will be given a $5.00 dividend. The ex-dividend date is Monday, November 18th.

About Arch Capital Group

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.