Bank of America Cuts Arch Capital Group (NASDAQ:ACGL) Price Target to $136.00

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

Several other research firms have also commented on ACGL. JPMorgan Chase & Co. boosted their price target on Arch Capital Group from $108.00 to $110.00 and gave the stock a “neutral” rating in a research report on Thursday, October 10th. Wells Fargo & Company decreased their price target on shares of Arch Capital Group from $126.00 to $118.00 and set an “overweight” rating for the company in a report on Monday, November 4th. JMP Securities upped their price objective on Arch Capital Group from $115.00 to $125.00 and gave the stock a “market outperform” rating in a research note on Tuesday, October 15th. Keefe, Bruyette & Woods upped their target price on shares of Arch Capital Group from $120.00 to $121.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 7th. Finally, Royal Bank of Canada lowered their price target on Arch Capital Group from $128.00 to $125.00 and set an “outperform” rating on the stock in a report on Friday, November 1st. Six research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $118.94.

Arch Capital Group Stock Up 1.8 %

Shares of NASDAQ:ACGL opened at $101.83 on Friday. The firm has a market cap of $38.31 billion, a price-to-earnings ratio of 6.83, a PEG ratio of 1.47 and a beta of 0.61. Arch Capital Group has a 12-month low of $72.85 and a 12-month high of $116.47. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 0.17. The stock’s 50-day moving average price is $108.03 and its two-hundred day moving average price is $103.36.

Arch Capital Group (NASDAQ:ACGL) last issued its 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. The business had revenue of $4.72 billion for the quarter, compared to analyst estimates of $4.05 billion. Arch Capital Group had a return on equity of 18.94% and a net margin of 33.86%. During the same period last year, the company posted $2.31 EPS. On average, research analysts forecast that Arch Capital Group will post 9.01 EPS for the current year.

Arch Capital Group Announces Dividend

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 issued a dividend of $5.00 per share. The ex-dividend date is Monday, November 18th.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Geode Capital Management LLC raised its holdings in shares of 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 valued at $1,208,307,000 after acquiring an additional 253,648 shares during the period. Brophy Wealth Management LLC acquired a new stake in Arch Capital Group during the 3rd quarter valued at $450,000. Vestcor Inc lifted its holdings in shares of Arch Capital Group by 1.6% in the third quarter. Vestcor Inc now owns 83,664 shares of the insurance provider’s stock valued at $9,360,000 after purchasing an additional 1,291 shares in the last quarter. Continuum Advisory LLC boosted its position in shares of Arch Capital Group by 8.2% in the third quarter. Continuum Advisory LLC now owns 37,135 shares of the insurance provider’s stock worth $4,155,000 after buying an additional 2,820 shares during the period. Finally, Public Employees Retirement System of Ohio purchased a new position in shares of Arch Capital Group during the third quarter valued at $17,338,000. 89.07% of the stock is currently owned by institutional investors and hedge funds.

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.