Wells Fargo & Company Lowers Arch Capital Group (NASDAQ:ACGL) Price Target to $109.00

Arch Capital Group (NASDAQ:ACGL) had its target price lowered by Wells Fargo & Company from $118.00 to $109.00 in a research note issued to investors on Tuesday morning,Benzinga reports. The firm currently has an overweight rating on the insurance provider’s stock.

Other equities analysts have also recently issued reports about the stock. Barclays assumed coverage on shares of Arch Capital Group in a research report on Wednesday, September 4th. They issued an “equal weight” rating and a $120.00 target price for the company. Royal Bank of Canada lowered their price objective on shares of Arch Capital Group from $128.00 to $125.00 and set an “outperform” rating for the company in a research report on Friday, November 1st. TD Cowen raised their target price on Arch Capital Group from $116.00 to $138.00 and gave the company a “buy” rating in a report on Friday, September 20th. BMO Capital Markets boosted their price target on Arch Capital Group from $98.00 to $104.00 and gave the stock a “market perform” rating in a report on Wednesday, November 6th. Finally, 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 report on Tuesday, October 15th. Six analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $118.38.

Arch Capital Group Trading Up 1.1 %

Shares of ACGL stock opened at $99.69 on Tuesday. The stock has a 50 day simple moving average of $106.67 and a 200 day simple moving average of $103.32. Arch Capital Group has a 1 year low of $72.85 and a 1 year 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 has a market cap of $37.51 billion, a P/E ratio of 6.69, a price-to-earnings-growth ratio of 1.52 and a beta of 0.61.

Arch Capital Group (NASDAQ:ACGL) last released its earnings results on Wednesday, October 30th. The insurance provider reported $1.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.94 by $0.05. The company 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 in the prior year, the firm posted $2.31 EPS. On average, research analysts predict that Arch Capital Group will post 9.01 earnings per share for the current fiscal year.

Arch Capital Group Dividend Announcement

The firm also recently declared a special dividend, which will be paid on Wednesday, December 4th. Shareholders of record on Monday, November 18th will be given a $5.00 dividend. The ex-dividend date of this dividend is Monday, November 18th.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of ACGL. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Arch Capital Group by 245.1% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,053,739 shares of the insurance provider’s stock worth $341,652,000 after buying an additional 2,168,897 shares during the period. Capital International Investors lifted its stake in shares of Arch Capital Group by 61.1% in the 1st quarter. Capital International Investors now owns 4,112,577 shares of the insurance provider’s stock valued at $380,167,000 after purchasing an additional 1,560,173 shares during the period. Erste Asset Management GmbH bought a new stake in shares of Arch Capital Group during the 3rd quarter valued at about $82,748,000. National Pension Service bought a new stake in Arch Capital Group in the third quarter worth approximately $64,271,000. Finally, International Assets Investment Management LLC lifted its stake in Arch Capital Group by 18,634.1% in the third quarter. International Assets Investment Management LLC now owns 551,345 shares of the insurance provider’s stock valued at $616,840,000 after buying an additional 548,402 shares during the period. 89.07% of the stock is 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.