Arch Capital Group Ltd. (ACGL) Now Covered by Analysts at Buckingham Research

Equities researchers at Buckingham Research started coverage on shares of Arch Capital Group Ltd. (NASDAQ:ACGL) in a research report issued on Monday, September 11th, MarketBeat Ratings reports. The brokerage set a “buy” rating and a $106.00 price target on the insurance provider’s stock. Buckingham Research’s target price would suggest a potential upside of 9.70% from the company’s current price.

ACGL has been the subject of a number of other reports. Keefe, Bruyette & Woods set a $100.00 price objective on Arch Capital Group and gave the stock a “hold” rating in a report on Friday, August 11th. BidaskClub lowered Arch Capital Group from a “hold” rating to a “sell” rating in a report on Saturday, June 10th. Zacks Investment Research downgraded Arch Capital Group from a “hold” rating to a “sell” rating in a research note on Tuesday, June 27th. Finally, Wells Fargo & Company restated a “hold” rating on shares of Arch Capital Group in a research note on Wednesday, June 7th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the company’s stock. Arch Capital Group presently has a consensus rating of “Hold” and an average target price of $97.22.

Arch Capital Group (ACGL) opened at 98.09 on Monday. The stock’s 50 day moving average price is $96.62 and its 200-day moving average price is $95.63. The firm has a market capitalization of $13.19 billion, a price-to-earnings ratio of 17.84 and a beta of 0.67. Arch Capital Group has a one year low of $76.47 and a one year high of $99.47.

Arch Capital Group (NASDAQ:ACGL) last issued its earnings results on Wednesday, July 26th. The insurance provider reported $1.21 EPS for the quarter, beating analysts’ consensus estimates of $1.20 by $0.01. Arch Capital Group had a return on equity of 8.76% and a net margin of 15.65%. The business had revenue of $1.25 billion during the quarter, compared to analyst estimates of $1.28 billion. During the same period in the previous year, the company posted $1.13 EPS. The firm’s revenue was up 22.0% compared to the same quarter last year. On average, equities research analysts anticipate that Arch Capital Group will post $5.37 earnings per share for the current fiscal year.

ILLEGAL ACTIVITY WARNING: “Arch Capital Group Ltd. (ACGL) Now Covered by Analysts at Buckingham Research” was reported by BBNS and is owned by of BBNS. If you are viewing this report on another domain, it was illegally stolen and republished in violation of US & international trademark & copyright laws. The legal version of this report can be accessed at https://baseballnewssource.com/markets/arch-capital-group-ltd-acgl-research-coverage-started-at-buckingham-research/1634186.html.

In related news, CEO Nicolas Papadopoulo sold 38,918 shares of the stock in a transaction on Tuesday, September 12th. The stock was sold at an average price of $97.23, for a total value of $3,783,997.14. Following the transaction, the chief executive officer now owns 182,035 shares of the company’s stock, valued at $17,699,263.05. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Constantine Iordanou sold 50,000 shares of the stock in a transaction on Thursday, August 3rd. The shares were sold at an average price of $97.88, for a total value of $4,894,000.00. Following the completion of the transaction, the chief executive officer now directly owns 171,901 shares in the company, valued at approximately $16,825,669.88. The disclosure for this sale can be found here. Insiders have sold a total of 195,579 shares of company stock worth $18,756,983 in the last three months. Insiders own 6.60% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ACGL. BlackRock Inc. increased its stake in Arch Capital Group by 3,410.5% in the first quarter. BlackRock Inc. now owns 8,769,351 shares of the insurance provider’s stock valued at $831,073,000 after acquiring an additional 8,519,546 shares during the last quarter. Citadel Advisors LLC boosted its position in Arch Capital Group by 1,388.0% during the second quarter. Citadel Advisors LLC now owns 2,088,015 shares of the insurance provider’s stock valued at $194,792,000 after buying an additional 1,947,691 shares during the period. Janus Henderson Group PLC boosted its position in Arch Capital Group by 5,723.3% during the second quarter. Janus Henderson Group PLC now owns 1,074,932 shares of the insurance provider’s stock valued at $100,280,000 after buying an additional 1,056,473 shares during the period. JPMorgan Chase & Co. boosted its position in Arch Capital Group by 802.5% during the first quarter. JPMorgan Chase & Co. now owns 850,833 shares of the insurance provider’s stock valued at $80,633,000 after buying an additional 756,556 shares during the period. Finally, Vanguard Group Inc. boosted its position in Arch Capital Group by 7.7% during the second quarter. Vanguard Group Inc. now owns 10,331,707 shares of the insurance provider’s stock valued at $963,845,000 after buying an additional 742,855 shares during the period. 76.91% of the stock is currently owned by institutional investors and hedge funds.

About Arch Capital Group

Arch Capital Group Ltd. provides insurance, reinsurance and mortgage insurance. The Company provides a range of property, casualty and mortgage insurance and reinsurance lines. The Company operates in five segments: insurance, reinsurance, mortgage, other and corporate. The insurance segment’s product lines include construction and national accounts; excess and surplus casualty; lenders products; professional lines; programs; property, energy, marine and aviation; travel, accident and health, and other.

Analyst Recommendations for Arch Capital Group (NASDAQ:ACGL)

Receive News & Ratings for Arch Capital Group Ltd. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Arch Capital Group Ltd. and related companies with our FREE daily email newsletter.

 


Latest News

Los Angeles Dodgers Waiting But Magic Number Down to One
Los Angeles Dodgers Waiting But Magic Number Down to One
Young Girl Hit by Foul Ball Rushed to Hospital
Young Girl Hit by Foul Ball Rushed to Hospital
New Home Run Record Reached in Major League Baseball
New Home Run Record Reached in Major League Baseball
Will 2017 MLB Season End with No 20-Game Winner?
Will 2017 MLB Season End with No 20-Game Winner?
Cleveland Indians Winning Streak Snapped at 22
Cleveland Indians Winning Streak Snapped at 22
Tigers Player Might Play All Nine Positions During Same Game
Tigers Player Might Play All Nine Positions During Same Game


Leave a Reply

 
© 2006-2017 BBNS.