Bank of America Has Lowered Expectations for Arch Capital Group (NASDAQ:ACGL) Stock Price

Arch Capital Group (NASDAQ:ACGL) had its target price trimmed by Bank of America from $143.00 to $136.00 in a research report released on Friday,Benzinga reports. The firm currently has a buy rating on the insurance provider’s stock.

A number of other brokerages have also commented on ACGL. TD Cowen upped their price target on Arch Capital Group from $116.00 to $138.00 and gave the stock a “buy” rating in a report on Friday, September 20th. Barclays initiated coverage on shares of Arch Capital Group in a research note on Wednesday, September 4th. They set an “equal weight” rating and a $120.00 target price for the company. Roth Mkm raised their price target on shares of Arch Capital Group from $110.00 to $125.00 and gave the stock a “buy” rating in a research report on Friday, August 23rd. JPMorgan Chase & Co. boosted their price objective on shares of Arch Capital Group from $108.00 to $110.00 and gave the stock a “neutral” rating in a report on Thursday, October 10th. Finally, BMO Capital Markets increased their target price on shares of Arch Capital Group from $98.00 to $104.00 and gave the company a “market perform” rating in a research note on Wednesday, November 6th. Six investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $118.94.

Arch Capital Group Price Performance

NASDAQ ACGL opened at $101.83 on Friday. Arch Capital Group has a fifty-two week low of $72.85 and a fifty-two week high of $116.47. The stock’s 50-day moving average is $108.03 and its two-hundred day moving average is $103.36. The firm has a market cap of $38.31 billion, a P/E ratio of 6.83, a price-to-earnings-growth ratio of 1.47 and a beta of 0.61. 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 posted its earnings results on Wednesday, October 30th. The insurance provider reported $1.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $4.05 billion. During the same period last year, the business posted $2.31 EPS. On average, analysts anticipate that Arch Capital Group will post 9.01 earnings per share for the current fiscal year.

Arch Capital Group Dividend Announcement

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

Institutional Trading of Arch Capital Group

Hedge funds have recently modified their holdings of the company. Avantax Advisory Services Inc. lifted its holdings in Arch Capital Group by 14.0% during the 1st quarter. Avantax Advisory Services Inc. now owns 8,534 shares of the insurance provider’s stock worth $789,000 after buying an additional 1,045 shares in the last quarter. Blair William & Co. IL grew its holdings in shares of Arch Capital Group by 6.9% during the first quarter. Blair William & Co. IL now owns 4,414 shares of the insurance provider’s stock worth $408,000 after buying an additional 286 shares in the last quarter. Jupiter Asset Management Ltd. raised its holdings in shares of Arch Capital Group by 16.4% in the first quarter. Jupiter Asset Management Ltd. now owns 204,027 shares of the insurance provider’s stock valued at $18,860,000 after purchasing an additional 28,743 shares during the last quarter. Nicolet Advisory Services LLC increased its stake in Arch Capital Group by 7.5% in the 1st quarter. Nicolet Advisory Services LLC now owns 5,458 shares of the insurance provider’s stock valued at $498,000 after buying an additional 382 shares during the last quarter. Finally, Vanguard Group Inc. increased its position in shares of Arch Capital Group by 0.3% in the first quarter. Vanguard Group Inc. now owns 40,858,890 shares of the insurance provider’s stock valued at $3,776,996,000 after acquiring an additional 104,008 shares during the last quarter. Institutional investors and hedge funds own 89.07% of the company’s stock.

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.