Arch Capital Group (NASDAQ:ACGL) Given New $120.00 Price Target at Keefe, Bruyette & Woods

Arch Capital Group (NASDAQ:ACGL) had its price target decreased by Keefe, Bruyette & Woods from $121.00 to $120.00 in a research note issued to investors on Friday morning,Benzinga reports. Keefe, Bruyette & Woods currently has an outperform rating on the insurance provider’s stock.

ACGL has been the subject of a number of other reports. StockNews.com downgraded Arch Capital Group from a “buy” rating to a “hold” rating in a research report on Thursday, October 24th. JPMorgan Chase & Co. decreased their target price on Arch Capital Group from $110.00 to $106.00 and set a “neutral” rating for the company in a research report on Friday, January 3rd. Bank of America cut their price target on shares of Arch Capital Group from $143.00 to $136.00 and set a “buy” rating on the stock in a report on Friday, November 15th. Royal Bank of Canada decreased 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 report on Friday, November 1st. Finally, Wells Fargo & Company dropped their target price on shares of Arch Capital Group from $118.00 to $109.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 19th. Six analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, Arch Capital Group presently has an average rating of “Moderate Buy” and an average target price of $118.13.

Arch Capital Group Trading Down 2.7 %

NASDAQ ACGL opened at $90.17 on Friday. 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 firm has a market capitalization of $33.93 billion, a P/E ratio of 6.05, a PEG ratio of 1.49 and a beta of 0.64. The business has a fifty day simple moving average of $95.80 and a 200 day simple moving average of $101.88. Arch Capital Group has a 12 month low of $76.82 and a 12 month high of $116.47.

Arch Capital Group (NASDAQ:ACGL) last released its quarterly earnings results 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. Arch Capital Group had a net margin of 33.86% and a return on equity of 18.94%. The company had revenue of $4.72 billion for the quarter, compared to analyst estimates of $4.05 billion. During the same period last year, the firm earned $2.31 earnings per share. On average, analysts predict that Arch Capital Group will post 8.99 EPS for the current fiscal year.

Arch Capital Group Announces Dividend

The business also recently announced a special dividend, which was paid on Wednesday, December 4th. Shareholders of record on Monday, November 18th were given a dividend of $5.00 per share. The ex-dividend date of this dividend was Monday, November 18th.

Hedge Funds Weigh In On Arch Capital Group

Several hedge funds have recently made changes to their positions in the stock. State Street Corp lifted its holdings in Arch Capital Group by 1.1% during the 3rd quarter. State Street Corp now owns 16,587,446 shares of the insurance provider’s stock worth $1,855,803,000 after purchasing an additional 172,628 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Arch Capital Group by 2.4% in the third quarter. Geode Capital Management LLC now owns 10,830,263 shares of the insurance provider’s stock worth $1,208,307,000 after buying an additional 253,648 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in shares of Arch Capital Group by 4.8% in the third quarter. Principal Financial Group Inc. now owns 7,438,738 shares of the insurance provider’s stock worth $832,246,000 after buying an additional 337,786 shares in the last quarter. Allspring Global Investments Holdings LLC grew its stake in Arch Capital Group by 1.0% during the third quarter. Allspring Global Investments Holdings LLC now owns 5,124,251 shares of the insurance provider’s stock valued at $573,301,000 after acquiring an additional 49,426 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in Arch Capital Group by 6.6% during the second quarter. Dimensional Fund Advisors LP now owns 3,925,288 shares of the insurance provider’s stock valued at $396,026,000 after acquiring an additional 244,285 shares in the last quarter. 89.07% of the stock is currently owned by hedge funds and other institutional investors.

About Arch Capital Group

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.