Arch Capital Group (NASDAQ:ACGL) Price Target Cut to $109.00 by Analysts at Wells Fargo & Company

Arch Capital Group (NASDAQ:ACGL) had its price target lowered by Wells Fargo & Company from $118.00 to $109.00 in a report published on Tuesday,Benzinga reports. The brokerage currently has an overweight rating on the insurance provider’s stock.

ACGL has been the subject of several other research reports. JMP Securities boosted their price target on shares of Arch Capital Group from $115.00 to $125.00 and gave the company a “market outperform” rating in a report on Tuesday, October 15th. Keefe, Bruyette & Woods increased their price target on Arch Capital Group from $120.00 to $121.00 and gave the stock an “outperform” rating in a report on Wednesday, August 7th. StockNews.com cut Arch Capital Group from a “buy” rating to a “hold” rating in a report on Thursday, October 24th. BMO Capital Markets boosted their price objective on Arch Capital Group from $98.00 to $104.00 and gave the company a “market perform” rating in a research report on Wednesday, November 6th. Finally, Bank of America reduced their price target on shares of Arch Capital Group from $143.00 to $136.00 and set a “buy” rating for the company in a report on Friday, November 15th. Six equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $118.38.

Arch Capital Group Trading Down 1.3 %

NASDAQ ACGL opened at $95.69 on Tuesday. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 0.17. Arch Capital Group has a 12 month low of $72.85 and a 12 month high of $116.47. The company has a market capitalization of $36.00 billion, a PE ratio of 6.42, a P/E/G ratio of 1.47 and a beta of 0.61. The stock has a 50-day simple moving average of $107.43 and a 200 day simple moving average of $103.39.

Arch Capital Group (NASDAQ:ACGL) last announced its quarterly earnings results on Wednesday, October 30th. The insurance provider reported $1.99 EPS for the quarter, beating analysts’ consensus estimates of $1.94 by $0.05. Arch Capital Group had a return on equity of 18.94% and a net margin of 33.86%. The company had revenue of $4.72 billion during the quarter, compared to analysts’ expectations of $4.05 billion. During the same period in the prior year, the business posted $2.31 EPS. Research analysts forecast that Arch Capital Group will post 9.01 EPS for the current year.

Arch Capital Group Announces Dividend

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

Institutional Trading of Arch Capital Group

A number of large investors have recently added to or reduced their stakes in the company. State Street Corp raised its holdings in shares of Arch Capital Group by 1.1% in the 3rd quarter. State Street Corp now owns 16,587,446 shares of the insurance provider’s stock valued at $1,855,803,000 after purchasing an additional 172,628 shares during the period. Geode Capital Management LLC increased its position in Arch Capital Group by 2.4% during the third quarter. Geode Capital Management LLC now owns 10,830,263 shares of the insurance provider’s stock worth $1,208,307,000 after buying an additional 253,648 shares during the last quarter. Principal Financial Group Inc. raised its stake in Arch Capital Group by 4.8% in the third quarter. Principal Financial Group Inc. now owns 7,438,738 shares of the insurance provider’s stock valued at $832,246,000 after buying an additional 337,786 shares during the period. Allspring Global Investments Holdings LLC raised its stake in Arch Capital Group by 1.0% in the third quarter. Allspring Global Investments Holdings LLC now owns 5,124,251 shares of the insurance provider’s stock valued at $573,301,000 after buying an additional 49,426 shares during the period. Finally, Capital International Investors lifted its position in shares of Arch Capital Group by 61.1% in the first quarter. Capital International Investors now owns 4,112,577 shares of the insurance provider’s stock valued at $380,167,000 after buying an additional 1,560,173 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.