JPMorgan Chase & Co. Cuts Arch Capital Group (NASDAQ:ACGL) Price Target to $113.00

by · The Markets Daily

Arch Capital Group (NASDAQ:ACGL – Get Free Report) had its price target cut by analysts at JPMorgan Chase & Co. from $118.00 to $113.00 in a research note issued on Friday, Benzinga reports. The firm currently has a “neutral” rating on the insurance provider’s stock. JPMorgan Chase & Co.‘s price objective would suggest a potential upside of 18.28% from the company’s current price.

Several other brokerages have also recently commented on ACGL. Weiss Ratings cut shares of Arch Capital Group from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, September 24th. Wells Fargo & Company increased their price objective on shares of Arch Capital Group from $114.00 to $117.00 and gave the company an “overweight” rating in a report on Thursday, July 30th. Mizuho set a $100.00 price objective on shares of Arch Capital Group and gave the company a “neutral” rating in a research note on Wednesday, September 16th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $120.00 target price (up from $115.00) on shares of Arch Capital Group in a report on Thursday, July 30th. Finally, Atlantic Securities set a $126.00 target price on shares of Arch Capital Group in a research report on Wednesday, July 15th. Six analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $109.75.

Check Out Our Latest Stock Report on ACGL

Arch Capital Group Trading Down 0.6%

Shares of ACGL traded down $0.54 during trading hours on Friday, hitting $95.54. 1,027,555 shares of the stock traded hands, compared to its average volume of 2,352,533. The business has a fifty day moving average of $97.37 and a 200-day moving average of $96.55. The firm has a market capitalization of $32.60 billion, a PE ratio of 7.47, a price-to-earnings-growth ratio of 2.89 and a beta of 0.28. Arch Capital Group has a 1-year low of $82.44 and a 1-year high of $107.08. The company has a current ratio of 0.57, a quick ratio of 0.57 and a debt-to-equity ratio of 0.23.

Arch Capital Group (NASDAQ:ACGL – Get Free Report) last announced its quarterly earnings data on Tuesday, July 28th. The insurance provider reported $2.56 EPS for the quarter, topping analysts’ consensus estimates of $2.47 by $0.09. The firm had revenue of $4.67 billion during the quarter, compared to analyst estimates of $4.36 billion. Arch Capital Group had a return on equity of 17.06% and a net margin of 24.40%.During the same period last year, the company earned $2.58 earnings per share. Analysts expect that Arch Capital Group will post 9.5 EPS for the current year.

Insider Activity

In related news, CFO Francois Morin sold 11,010 shares of the stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $99.32, for a total transaction of $1,093,513.20. Following the completion of the sale, the chief financial officer directly owned 184,826 shares of the company’s stock, valued at approximately $18,356,918.32. This represents a 5.62% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 3.30% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of ACGL. Dimensional Fund Advisors LP boosted its holdings in shares of Arch Capital Group by 2.9% in the first quarter. Dimensional Fund Advisors LP now owns 4,173,885 shares of the insurance provider’s stock valued at $400,643,000 after buying an additional 117,929 shares during the period. Madison Asset Management LLC acquired a new stake in shares of Arch Capital Group during the second quarter worth $368,808,000. First Trust Advisors LP lifted its position in Arch Capital Group by 319.5% in the 1st quarter. First Trust Advisors LP now owns 2,626,148 shares of the insurance provider’s stock valued at $252,084,000 after acquiring an additional 2,000,162 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its stake in Arch Capital Group by 50.6% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,910,063 shares of the insurance provider’s stock worth $183,347,000 after purchasing an additional 641,462 shares during the period. Finally, Hsbc Holdings PLC increased its holdings in Arch Capital Group by 230.0% during the 1st quarter. Hsbc Holdings PLC now owns 1,286,178 shares of the insurance provider’s stock worth $123,354,000 after purchasing an additional 896,480 shares in the last quarter. Institutional investors own 89.07% of the company’s stock.

About Arch Capital Group

(Get Free Report)

Arch Capital Group Ltd. is a Bermuda-based insurance, reinsurance and mortgage insurance company whose shares trade on the Nasdaq under the symbol ACGL. The company was established in 1995 and has developed into a global provider of specialty risk-management products and services.

Through its insurance operations, Arch offers property, casualty, specialty, and accident and health coverage to businesses and other policyholders. Its reinsurance operations provide coverage and risk-transfer solutions to insurance companies across a range of property and casualty lines.

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