Arch Capital Group (NASDAQ:ACGL)‘s stock had its “hold” rating reaffirmed by Wells Fargo & Co in a report issued on Tuesday. They currently have a $96.00 price target on the insurance provider’s stock. Wells Fargo & Co’s price target would suggest a potential upside of 10.05% from the company’s current price.
The analysts wrote, “We are now including $67.5 million of cats, the mid-point of its previewed range. We had been including $57.5 million of cats in our model. As a result of the higher cats than we were modeling (due to the December fires) we are lowering our estimate to $1.20 (from $1.25) for the Q4 and $3.06 for FY 2017 (compared to our prior $3.12). Our 2018 and 2019 EPS estimates and price target are unchanged. Updated for cat losses outside of the October wildfires. The company now expects $60-75 million of pre-tax losses from Q4 cats (about 0.7-0.9% of its equity) from the California fires (October and December) and other global events, up from its prior estimate of $30-55 million of losses disclosed in its 10Q (the prior disclosure was only for the October wildfires). Most of the losses in the quarter stemmed from its non-U.S.””
A number of other equities analysts also recently issued reports on the company. BidaskClub downgraded Arch Capital Group from a “hold” rating to a “sell” rating in a report on Thursday, December 7th. Zacks Investment Research raised Arch Capital Group from a “sell” rating to a “hold” rating in a report on Thursday, October 12th. Royal Bank of Canada reaffirmed a “buy” rating and issued a $113.00 price target on shares of Arch Capital Group in a report on Friday, October 27th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $101.00 price target on shares of Arch Capital Group in a report on Wednesday, December 6th. Finally, UBS Group reaffirmed a “buy” rating on shares of Arch Capital Group in a report on Monday, October 30th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the stock. Arch Capital Group currently has a consensus rating of “Hold” and a consensus target price of $100.40.
Arch Capital Group (NASDAQ:ACGL) last announced its quarterly earnings data on Wednesday, October 25th. The insurance provider reported ($0.79) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.59) by ($0.20). Arch Capital Group had a return on equity of 5.57% and a net margin of 9.44%. The company had revenue of $1.33 billion for the quarter, compared to analyst estimates of $1.16 billion. During the same period in the prior year, the firm posted $1.14 earnings per share. The business’s quarterly revenue was up 30.7% compared to the same quarter last year. analysts forecast that Arch Capital Group will post 3.15 EPS for the current year.
In other Arch Capital Group news, insider Louis T. Petrillo sold 5,921 shares of the business’s stock in a transaction that occurred on Wednesday, December 13th. The stock was sold at an average price of $91.07, for a total value of $539,225.47. Following the completion of the sale, the insider now owns 43,268 shares in the company, valued at $3,940,416.76. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Mark Donald Lyons sold 5,500 shares of the business’s stock in a transaction that occurred on Monday, December 11th. The shares were sold at an average price of $92.04, for a total value of $506,220.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 65,975 shares of company stock valued at $6,256,989. 6.60% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently modified their holdings of the business. Schwab Charles Investment Management Inc. raised its stake in shares of Arch Capital Group by 5.1% during the second quarter. Schwab Charles Investment Management Inc. now owns 401,129 shares of the insurance provider’s stock worth $37,422,000 after purchasing an additional 19,287 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of 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 worth $963,845,000 after purchasing an additional 742,855 shares during the last quarter. WINTON GROUP Ltd raised its stake in shares of Arch Capital Group by 47.2% during the third quarter. WINTON GROUP Ltd now owns 11,448 shares of the insurance provider’s stock worth $1,128,000 after purchasing an additional 3,669 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in shares of Arch Capital Group by 32.6% during the second quarter. Goldman Sachs Group Inc. now owns 1,609,474 shares of the insurance provider’s stock worth $150,148,000 after purchasing an additional 395,629 shares during the last quarter. Finally, Shell Asset Management Co. raised its stake in shares of Arch Capital Group by 421.3% during the third quarter. Shell Asset Management Co. now owns 329,393 shares of the insurance provider’s stock worth $18,024,000 after purchasing an additional 266,207 shares during the last quarter. Institutional investors own 79.41% of the company’s stock.
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Arch Capital Group Company Profile
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.
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