The Goldman Sachs Group Initiates Coverage on Arch Capital Group (NASDAQ:ACGL)

Equities researchers at The Goldman Sachs Group started coverage on shares of Arch Capital Group (NASDAQ:ACGL) in a report issued on Friday, MarketBeat reports. The brokerage set a “neutral” rating and a $80.00 price target on the insurance provider’s stock. The Goldman Sachs Group’s target price suggests a potential upside of 3.55% from the company’s previous close.

Other research analysts have also issued research reports about the stock. Morgan Stanley assumed coverage on shares of Arch Capital Group in a research note on Tuesday, June 20th. They issued an “overweight” rating and a $92.00 price target on the stock. JMP Securities upped their price target on Arch Capital Group from $85.00 to $90.00 in a research report on Thursday, July 27th. Barclays raised their price target on shares of Arch Capital Group from $83.00 to $92.00 and gave the stock an “overweight” rating in a research note on Friday, July 28th. JPMorgan Chase & Co. increased their target price on shares of Arch Capital Group from $75.00 to $82.00 and gave the stock a “neutral” rating in a report on Thursday, July 27th. Finally, Wells Fargo & Company lifted their target price on Arch Capital Group from $90.00 to $92.00 and gave the company an “overweight” rating in a research report on Friday, July 28th. Four analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $82.55.

Arch Capital Group Stock Down 0.8 %

NASDAQ:ACGL opened at $77.26 on Friday. The stock’s fifty day simple moving average is $77.01 and its 200-day simple moving average is $73.02. The firm has a market capitalization of $28.81 billion, a P/E ratio of 13.09, a P/E/G ratio of 1.16 and a beta of 0.72. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 0.24. Arch Capital Group has a 12-month low of $41.05 and a 12-month high of $84.83.

Arch Capital Group (NASDAQ:ACGL) last released its quarterly earnings data on Thursday, July 27th. The insurance provider reported $1.92 earnings per share 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 business had revenue of $3.43 billion for the quarter, compared to analyst estimates of $3.19 billion. During the same quarter last year, the firm earned $1.34 EPS. Arch Capital Group’s quarterly revenue was up 27.7% compared to the same quarter last year. Equities research analysts expect that Arch Capital Group will post 6.73 earnings per share for the current year.

Institutional Trading of Arch Capital Group

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. City State Bank bought a new position in shares of Arch Capital Group during the second quarter valued at $30,000. CENTRAL TRUST Co raised its position in Arch Capital Group by 57.3% during the 3rd quarter. CENTRAL TRUST Co now owns 692 shares of the insurance provider’s stock worth $32,000 after purchasing an additional 252 shares during the last quarter. First Horizon Advisors Inc. lifted its holdings in Arch Capital Group by 151.0% during the 1st quarter. First Horizon Advisors Inc. now owns 497 shares of the insurance provider’s stock worth $34,000 after buying an additional 299 shares during the period. Massmutual Trust Co. FSB ADV grew its position in shares of Arch Capital Group by 140.0% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 516 shares of the insurance provider’s stock valued at $39,000 after buying an additional 301 shares during the last quarter. Finally, Itau Unibanco Holding S.A. acquired a new stake in shares of Arch Capital Group in the second quarter valued at about $47,000. Institutional investors own 87.21% of the company’s stock.

About Arch Capital Group

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.