Arch Capital Group Ltd. (ACGL) Receives Consensus Recommendation of “Hold” from Analysts
Shares of Arch Capital Group Ltd. (NASDAQ:ACGL) have received a consensus recommendation of “Hold” from the twelve brokerages that are covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $98.13.
A number of equities research analysts have weighed in on the company. BidaskClub raised Arch Capital Group from a “sell” rating to a “hold” rating in a report on Friday, June 30th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $100.00 price objective on shares of Arch Capital Group in a report on Thursday. Wells Fargo & Co reaffirmed a “hold” rating on shares of Arch Capital Group in a report on Wednesday, July 26th. Buckingham Research assumed coverage on Arch Capital Group in a report on Monday, September 11th. They issued a “buy” rating and a $106.00 price objective on the stock. Finally, Zacks Investment Research lowered Arch Capital Group from a “hold” rating to a “sell” rating in a report on Tuesday, June 27th.
COPYRIGHT VIOLATION WARNING: This article was originally posted by The Cerbat Gem and is owned by of The Cerbat Gem. If you are viewing this article on another publication, it was copied illegally and republished in violation of United States and international copyright legislation. The original version of this article can be read at https://www.thecerbatgem.com/2017/09/24/arch-capital-group-ltd-acgl-receives-consensus-recommendation-of-hold-from-analysts.html.
In other news, CEO Andrew Rippert sold 3,500 shares of the business’s stock in a transaction that occurred on Thursday, September 7th. The stock was sold at an average price of $94.25, for a total transaction of $329,875.00. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Constantine Iordanou sold 50,000 shares of the business’s stock in a transaction that occurred on Thursday, August 3rd. The stock was sold at an average price of $97.88, for a total value of $4,894,000.00. Following the sale, 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. Corporate insiders own 6.60% of the company’s stock.
Several large investors have recently made changes to their positions in ACGL. Profund Advisors LLC purchased a new stake in shares of Arch Capital Group during the 1st quarter worth approximately $232,000. US Bancorp DE boosted its stake in shares of Arch Capital Group by 7.5% during the 1st quarter. US Bancorp DE now owns 9,998 shares of the insurance provider’s stock worth $948,000 after acquiring an additional 696 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Arch Capital Group by 8.4% during the 1st quarter. Bank of New York Mellon Corp now owns 581,508 shares of the insurance provider’s stock worth $55,109,000 after acquiring an additional 45,059 shares in the last quarter. Comerica Bank boosted its stake in shares of Arch Capital Group by 2.7% during the 1st quarter. Comerica Bank now owns 5,310 shares of the insurance provider’s stock worth $519,000 after acquiring an additional 139 shares in the last quarter. Finally, World Asset Management Inc boosted its stake in shares of Arch Capital Group by 2.2% during the 1st quarter. World Asset Management Inc now owns 4,885 shares of the insurance provider’s stock worth $463,000 after acquiring an additional 104 shares in the last quarter. 76.91% of the stock is currently owned by institutional investors and hedge funds.
Arch Capital Group (NASDAQ:ACGL) last announced its quarterly earnings data on Wednesday, July 26th. The insurance provider reported $1.21 earnings per share for the quarter, beating the Zacks’ consensus estimate 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 company had revenue of $1.25 billion for the quarter, compared to analyst estimates of $1.28 billion. During the same quarter in the previous year, the company earned $1.13 EPS. The firm’s revenue for the quarter was up 22.0% compared to the same quarter last year.
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.
Receive News & Stock 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 stocks with our FREE daily email newsletter.