Arch Capital Group (NASDAQ:ACGL) Raised to “Buy” at BidaskClub

BidaskClub upgraded shares of Arch Capital Group (NASDAQ:ACGL) from a hold rating to a buy rating in a research report sent to investors on Saturday, BidAskClub reports.

A number of other brokerages also recently weighed in on ACGL. MKM Partners lifted their target price on shares of Arch Capital Group from $40.00 to $45.00 and gave the stock a buy rating in a research note on Tuesday, July 30th. UBS Group lifted their price target on shares of Arch Capital Group from $39.00 to $45.00 and gave the company a buy rating in a research note on Thursday, August 29th. Deutsche Bank raised shares of Arch Capital Group from a hold rating to a buy rating and set a $35.35 price target for the company in a research note on Wednesday, June 26th. Buckingham Research lifted their price target on shares of Arch Capital Group from $38.00 to $40.00 and gave the company a neutral rating in a research note on Thursday, September 12th. Finally, Barclays set a $47.00 price target on shares of Arch Capital Group and gave the company a buy rating in a research note on Monday, August 12th. One research analyst has rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the company’s stock. The stock has an average rating of Hold and a consensus price target of $39.04.

Shares of NASDAQ ACGL opened at $41.11 on Friday. Arch Capital Group has a twelve month low of $24.79 and a twelve month high of $41.57. The firm has a fifty day simple moving average of $39.91 and a 200 day simple moving average of $36.03. The company has a market capitalization of $16.65 billion, a PE ratio of 18.68, a P/E/G ratio of 1.46 and a beta of 0.64. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 0.27.



Arch Capital Group (NASDAQ:ACGL) last announced its earnings results on Monday, July 29th. The insurance provider reported $0.77 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.08. Arch Capital Group had a net margin of 20.48% and a return on equity of 10.58%. The business had revenue of $1.45 billion during the quarter, compared to the consensus estimate of $1.24 billion. During the same quarter last year, the firm earned $0.59 earnings per share. Arch Capital Group’s quarterly revenue was up 11.2% on a year-over-year basis. As a group, equities analysts expect that Arch Capital Group will post 2.82 earnings per share for the current fiscal year.

In other Arch Capital Group news, CEO Marc Grandisson sold 78,300 shares of Arch Capital Group stock in a transaction on Monday, August 19th. The shares were sold at an average price of $40.05, for a total value of $3,135,915.00. Following the completion of the sale, the chief executive officer now directly owns 92,309 shares of the company’s stock, valued at $3,696,975.45. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP W Preston Hutchings sold 25,000 shares of Arch Capital Group stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $39.47, for a total transaction of $986,750.00. Following the completion of the sale, the senior vice president now directly owns 55,694 shares of the company’s stock, valued at $2,198,242.18. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 141,300 shares of company stock valued at $5,619,725. Insiders own 5.20% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. KBC Group NV increased its position in shares of Arch Capital Group by 65.6% during the second quarter. KBC Group NV now owns 137,198 shares of the insurance provider’s stock worth $5,088,000 after acquiring an additional 54,359 shares in the last quarter. Barings LLC bought a new stake in shares of Arch Capital Group during the first quarter worth about $617,000. Acadian Asset Management LLC bought a new stake in shares of Arch Capital Group during the second quarter worth about $3,385,000. Lomas Capital Management LLC bought a new stake in shares of Arch Capital Group during the second quarter worth about $8,184,000. Finally, Canada Pension Plan Investment Board increased its position in shares of Arch Capital Group by 108.9% during the second quarter. Canada Pension Plan Investment Board now owns 437,082 shares of the insurance provider’s stock worth $16,207,000 after acquiring an additional 227,826 shares in the last quarter. 79.67% of the stock is owned by hedge funds and other institutional investors.

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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Analyst Recommendations for Arch Capital Group (NASDAQ:ACGL)

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