Arch Capital Group (NASDAQ:ACGL) Stock Price Target Cut by Cantor Fitzgerald

Arch Capital Group (NASDAQ:ACGL) had its target price decreased by research analysts at Cantor Fitzgerald from $110.00 to $105.00 in a research note issued on Wednesday, MarketBeat.com reports. The firm presently has a “neutral” rating on the insurance provider’s stock. Cantor Fitzgerald’s price objective points to a potential upside of 9.28% from the company’s previous close.

ACGL has been the topic of a number of other research reports. JPMorgan Chase & Co. raised their price objective on Arch Capital Group from $116.00 to $118.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 11th. Morgan Stanley cut their target price on Arch Capital Group from $111.00 to $105.00 and set an “overweight” rating for the company in a research report on Tuesday. Weiss Ratings lowered Arch Capital Group from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, September 24th. Keefe, Bruyette & Woods reduced their target price on Arch Capital Group from $102.00 to $99.00 and set a “market perform” rating on the stock in a report on Wednesday, July 8th. Finally, Wells Fargo & Company boosted their price target on Arch Capital Group from $114.00 to $117.00 and gave the company an “overweight” rating in a research note on Thursday, July 30th. Six research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Arch Capital Group presently has an average rating of “Hold” and a consensus target price of $110.11.

Arch Capital Group Stock Performance

NASDAQ ACGL opened at $96.08 on Wednesday. The firm has a 50-day moving average price of $97.37 and a two-hundred day moving average price of $96.55. Arch Capital Group has a 12-month low of $82.44 and a 12-month high of $107.08. The company has a market capitalization of $32.79 billion, a P/E ratio of 7.51, a P/E/G ratio of 2.89 and a beta of 0.28. The company has a quick ratio of 0.57, a current ratio of 0.57 and a debt-to-equity ratio of 0.23.

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

Insider Buying and Selling at Arch Capital Group

In other news, CFO Francois Morin sold 11,010 shares of Arch Capital Group stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $99.32, for a total value of $1,093,513.20. Following the transaction, the chief financial officer owned 184,826 shares in the company, valued at approximately $18,356,918.32. This trade represents a 5.62% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 3.30% of the company’s stock.

Hedge Funds Weigh In On Arch Capital Group

A number of institutional investors have recently modified their holdings of ACGL. Horizons Wealth Management bought a new position in Arch Capital Group in the third quarter valued at about $25,000. Torren Management LLC raised its stake in Arch Capital Group by 66.9% during the second quarter. Torren Management LLC now owns 292 shares of the insurance provider’s stock worth $28,000 after acquiring an additional 117 shares in the last quarter. MidFirst Bank bought a new position in shares of Arch Capital Group in the fourth quarter worth about $46,000. Continuum Advisory LLC bought a new position in shares of Arch Capital Group in the second quarter worth about $46,000. Finally, Westpac Banking Corp acquired a new stake in shares of Arch Capital Group in the 1st quarter valued at approximately $69,000. Institutional investors and hedge funds own 89.07% of the company’s stock.

About Arch Capital Group

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.