Arch Capital Group (NASDAQ:ACGL) Downgraded by StockNews.com to Hold

StockNews.com downgraded shares of Arch Capital Group (NASDAQ:ACGL) from a buy rating to a hold rating in a report published on Wednesday morning.

A number of other research firms also recently issued reports on ACGL. Wells Fargo & Company upped their price target on shares of Arch Capital Group from $90.00 to $92.00 and gave the company an overweight rating in a research note on Friday, July 28th. JMP Securities upped their price target on shares of Arch Capital Group from $85.00 to $90.00 in a research note on Thursday, July 27th. JPMorgan Chase & Co. upped their price target on shares of Arch Capital Group from $75.00 to $82.00 and gave the company a neutral rating in a research note on Thursday, July 27th. Barclays upped their price target on shares of Arch Capital Group from $83.00 to $92.00 and gave the company an overweight rating in a research note on Friday, July 28th. Finally, Morgan Stanley started coverage on shares of Arch Capital Group in a research note on Tuesday, June 20th. They issued an overweight rating and a $92.00 target price on the stock. Three analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, Arch Capital Group presently has an average rating of Moderate Buy and a consensus target price of $82.80.

Arch Capital Group Price Performance

ACGL stock opened at $77.09 on Wednesday. Arch Capital Group has a one year low of $41.05 and a one year high of $84.83. The company’s fifty day moving average price is $76.39 and its 200-day moving average price is $72.54. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.59 and a current ratio of 0.59. The company has a market capitalization of $28.75 billion, a PE ratio of 13.07, a price-to-earnings-growth ratio of 1.10 and a beta of 0.72.

Arch Capital Group (NASDAQ:ACGL) last released its earnings results on Thursday, July 27th. The insurance provider reported $1.92 EPS for the quarter, topping the consensus estimate of $1.65 by $0.27. Arch Capital Group had a net margin of 19.31% and a return on equity of 18.57%. The firm had revenue of $3.43 billion for the quarter, compared to the consensus estimate of $3.19 billion. During the same quarter in the previous year, the firm earned $1.34 earnings per share. The company’s quarterly revenue was up 27.7% compared to the same quarter last year. On average, equities analysts anticipate that Arch Capital Group will post 6.73 EPS for the current fiscal year.

Hedge Funds Weigh In On Arch Capital Group

Hedge funds and other institutional investors have recently modified their holdings of the stock. Cambridge Investment Research Advisors Inc. raised its position in Arch Capital Group by 3.5% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 23,800 shares of the insurance provider’s stock worth $1,152,000 after buying an additional 799 shares during the last quarter. HighTower Advisors LLC raised its position in Arch Capital Group by 27.1% during the 1st quarter. HighTower Advisors LLC now owns 34,331 shares of the insurance provider’s stock worth $1,662,000 after buying an additional 7,316 shares during the last quarter. Cetera Advisor Networks LLC raised its position in Arch Capital Group by 33.0% during the 1st quarter. Cetera Advisor Networks LLC now owns 6,567 shares of the insurance provider’s stock worth $318,000 after buying an additional 1,631 shares during the last quarter. Private Advisor Group LLC raised its position in Arch Capital Group by 12.3% during the 1st quarter. Private Advisor Group LLC now owns 14,025 shares of the insurance provider’s stock worth $679,000 after buying an additional 1,537 shares during the last quarter. Finally, Acadian Asset Management LLC purchased a new position in Arch Capital Group during the 1st quarter worth approximately $76,000. 87.21% of the stock is owned by hedge funds and other institutional investors.

Arch Capital Group Company Profile

Arch Capital Group Ltd. engages in the provision of property and casualty insurance and reinsurance lines. It operates through the following segments: Insurance, Reinsurance, Mortgage, Corporate, and Other. The Insurance segment consists of insurance underwriting units which offer specialty product lines like construction and national accounts, excess and surplus casualty, lenders products, professional lines, and programs.