Stock analysts at StockNews.com began coverage on shares of Arch Capital Group (NASDAQ:ACGL – Get Free Report) in a note issued to investors on Thursday. The firm set a “hold” rating on the insurance provider’s stock.
A number of other research firms also recently weighed in on ACGL. JMP Securities raised their price target on Arch Capital Group from $85.00 to $90.00 in a research note on Thursday, July 27th. Wells Fargo & Company raised their target price on shares of Arch Capital Group from $90.00 to $92.00 and gave the company an “overweight” rating in a research note on Friday, July 28th. JPMorgan Chase & Co. upped their price target on shares of Arch Capital Group from $75.00 to $82.00 and gave the stock a “neutral” rating in a research report on Thursday, July 27th. Morgan Stanley started coverage on shares of Arch Capital Group in a research report on Tuesday, June 20th. They issued an “overweight” rating and a $92.00 price objective for the company. Finally, Barclays upped their target price on shares of Arch Capital Group from $83.00 to $92.00 and gave the company an “overweight” rating in a report on Friday, July 28th. Four analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $82.42.
View Our Latest Stock Report on ACGL
Arch Capital Group Stock Performance
Arch Capital Group (NASDAQ:ACGL – Get Free Report) last issued its quarterly earnings results on Thursday, July 27th. The insurance provider reported $1.92 EPS for the quarter, topping the consensus estimate of $1.65 by $0.27. Arch Capital Group had a net margin of 19.31% and a return on equity of 18.57%. The firm had revenue of $3.43 billion for the quarter, compared to analysts’ expectations of $3.19 billion. During the same period in the previous year, the firm posted $1.34 EPS. The company’s revenue for the quarter was up 27.7% on a year-over-year basis. Equities research analysts expect that Arch Capital Group will post 6.75 EPS for the current fiscal year.
Hedge Funds Weigh In On Arch Capital Group
A number of large investors have recently made changes to their positions in ACGL. Vanguard Group Inc. grew its holdings in Arch Capital Group by 2.5% in the 1st quarter. Vanguard Group Inc. now owns 34,253,429 shares of the insurance provider’s stock valued at $1,658,551,000 after buying an additional 846,179 shares in the last quarter. BlackRock Inc. lifted its holdings in shares of Arch Capital Group by 1.8% during the second quarter. BlackRock Inc. now owns 26,522,329 shares of the insurance provider’s stock worth $1,985,196,000 after buying an additional 463,055 shares in the last quarter. State Street Corp boosted its position in shares of Arch Capital Group by 2.9% in the second quarter. State Street Corp now owns 15,144,346 shares of the insurance provider’s stock valued at $1,133,554,000 after acquiring an additional 423,093 shares during the period. WCM Investment Management LLC grew its stake in shares of Arch Capital Group by 7.7% in the second quarter. WCM Investment Management LLC now owns 13,752,406 shares of the insurance provider’s stock valued at $1,038,857,000 after acquiring an additional 983,146 shares in the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of Arch Capital Group by 3.1% in the second quarter. Geode Capital Management LLC now owns 8,150,670 shares of the insurance provider’s stock valued at $608,564,000 after acquiring an additional 248,170 shares in the last quarter. Institutional investors own 87.21% of the company’s stock.
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; collateral protection, debt cancellation, and service contract reimbursement products; 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.
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