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

Shares of Arch Capital Group Ltd. (NASDAQ:ACGL) 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.

A number of other equities analysts also recently weighed in on ACGL. Keefe, Bruyette & Woods upped their price target on Arch Capital Group from $120.00 to $121.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 7th. JPMorgan Chase & Co. raised their target price on shares of Arch Capital Group from $108.00 to $110.00 and gave the company a “neutral” rating in a research report on Thursday, October 10th. Jefferies Financial Group boosted their price target on shares of Arch Capital Group from $114.00 to $134.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. StockNews.com cut Arch Capital Group from a “buy” rating to a “hold” rating in a report on Thursday, October 24th. Finally, Wells Fargo & Company dropped their target price on Arch Capital Group from $126.00 to $118.00 and set an “overweight” rating on the stock in a report on Monday, November 4th. Six equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $118.94.

Institutional Trading of Arch Capital Group

Hedge funds have recently added to or reduced their stakes in the company. Quantbot Technologies LP acquired a new stake in shares of Arch Capital Group during the 3rd quarter worth $25,000. UMB Bank n.a. bought a new position in Arch Capital Group during the 2nd quarter worth $30,000. Baldwin Brothers LLC MA lifted its position in shares of Arch Capital Group by 50.7% in the 2nd quarter. Baldwin Brothers LLC MA now owns 309 shares of the insurance provider’s stock worth $31,000 after purchasing an additional 104 shares during the period. Rothschild Investment LLC acquired a new position in shares of Arch Capital Group in the 2nd quarter valued at about $35,000. Finally, LRI Investments LLC bought a new position in Arch Capital Group during the first quarter worth $38,000. 89.07% of the stock is owned by institutional investors and hedge funds.

Arch Capital Group Trading Up 0.1 %

The firm has a market cap of $36.49 billion, a P/E ratio of 6.51, a price-to-earnings-growth ratio of 1.47 and a beta of 0.61. The firm has a fifty day simple moving average of $107.74 and a 200-day simple moving average of $103.38. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.58 and a quick ratio of 0.58.

Arch Capital Group (NASDAQ:ACGL) last released its quarterly earnings results 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 business had revenue of $4.72 billion for the quarter, compared to analysts’ expectations of $4.05 billion. During the same period in the previous year, the company earned $2.31 earnings per share. On average, equities research analysts expect that Arch Capital Group Ltd. will post 9.01 earnings per share for the current year.

Arch Capital Group Dividend Announcement

The business also recently declared a special dividend, which will be paid on Wednesday, December 4th. Investors of record on Monday, November 18th will be issued a $5.00 dividend. The ex-dividend date is Monday, November 18th.

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.