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

Arch Capital Group Ltd. (NASDAQ:ACGL) gapped down prior to trading 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 changing hands.

ACGL has been the topic of several other reports. TD Cowen increased their price objective on Arch Capital Group from $116.00 to $138.00 and gave the company a “buy” rating in a research note on Friday, September 20th. Royal Bank of Canada lowered their price target on shares of Arch Capital Group from $128.00 to $125.00 and set an “outperform” rating for the company in a report on Friday, November 1st. Evercore ISI lifted their price objective on shares of Arch Capital Group from $104.00 to $107.00 and gave the stock an “in-line” rating in a research report on Wednesday, October 9th. Citigroup lifted their price target on Arch Capital Group from $105.00 to $114.00 and gave the stock a “neutral” rating in a report on Tuesday, September 10th. Finally, BMO Capital Markets increased their price objective on Arch Capital Group from $98.00 to $104.00 and gave the company a “market perform” rating in a report on Wednesday, November 6th. Six investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $118.94.

Institutional Trading of Arch Capital Group

Institutional investors have recently added to or reduced their stakes in the business. Quantbot Technologies LP purchased a new stake in shares of Arch Capital Group during the third quarter worth about $25,000. UMB Bank n.a. acquired a new position in Arch Capital Group during the 2nd quarter worth $30,000. Baldwin Brothers LLC MA increased 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 last quarter. Rothschild Investment LLC acquired a new stake in shares of Arch Capital Group in the 2nd quarter valued at about $35,000. Finally, LRI Investments LLC bought a new position in shares of Arch Capital Group during the first quarter worth about $38,000. 89.07% of the stock is owned by hedge funds and other institutional investors.

Arch Capital Group Stock Up 0.1 %

The stock has a 50 day moving average of $107.74 and a 200 day moving average of $103.38. The firm has a market capitalization of $36.49 billion, a price-to-earnings ratio of 6.51, a P/E/G ratio of 1.47 and a beta of 0.61. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 0.17.

Arch Capital Group (NASDAQ:ACGL) last issued its quarterly earnings data on Wednesday, October 30th. The insurance provider reported $1.99 earnings per share for the quarter, beating analysts’ consensus estimates of $1.94 by $0.05. The business had revenue of $4.72 billion for the quarter, compared to analysts’ expectations of $4.05 billion. Arch Capital Group had a net margin of 33.86% and a return on equity of 18.94%. During the same period in the previous year, the business earned $2.31 earnings per share. As a group, analysts expect that Arch Capital Group Ltd. will post 9.01 earnings per share for the current fiscal 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 dividend of $5.00 per share. The ex-dividend date of this dividend 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.