Brokerages Set Arch Capital Group Ltd. (NASDAQ:ACGL) PT at $118.38

Shares of Arch Capital Group Ltd. (NASDAQ:ACGL) have been assigned an average recommendation of “Moderate Buy” from the sixteen brokerages that are currently covering the stock, Marketbeat.com reports. Five equities research analysts have rated the stock with a hold recommendation and eleven have given a buy recommendation to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $118.38.

ACGL has been the topic of several research reports. Keefe, Bruyette & Woods upped their price objective on shares of Arch Capital Group from $120.00 to $121.00 and gave the company an “outperform” rating in a research note on Wednesday, August 7th. Royal Bank of Canada decreased their target price on shares of Arch Capital Group from $128.00 to $125.00 and set an “outperform” rating for the company in a research report on Friday, November 1st. Jefferies Financial Group raised their target price on shares of Arch Capital Group from $114.00 to $134.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Citigroup increased their price target on shares of Arch Capital Group from $105.00 to $114.00 and gave the company a “neutral” rating in a report on Tuesday, September 10th. Finally, JMP Securities increased their price target on shares of Arch Capital Group from $115.00 to $125.00 and gave the company a “market outperform” rating in a report on Tuesday, October 15th.

Arch Capital Group Stock Down 1.1 %

ACGL stock opened at $98.48 on Thursday. Arch Capital Group has a 52-week low of $72.85 and a 52-week high of $116.47. The company’s 50 day simple moving average is $104.84 and its 200-day simple moving average is $103.44. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.58 and a quick ratio of 0.58. The firm has a market capitalization of $37.05 billion, a P/E ratio of 6.61, a P/E/G ratio of 1.58 and a beta of 0.62.

Arch Capital Group (NASDAQ:ACGL) last released its quarterly earnings results on Wednesday, October 30th. The insurance provider reported $1.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.94 by $0.05. Arch Capital Group had a net margin of 33.86% and a return on equity of 18.94%. The business had revenue of $4.72 billion for the quarter, compared to analyst estimates of $4.05 billion. During the same quarter in the previous year, the business earned $2.31 earnings per share. As a group, equities research analysts anticipate that Arch Capital Group will post 8.99 EPS for the current year.

Arch Capital Group Announces Dividend

The business also recently disclosed a special dividend, which was paid on Wednesday, December 4th. Shareholders of record on Monday, November 18th were given a $5.00 dividend. The ex-dividend date of this dividend was Monday, November 18th.

Institutional Investors Weigh In On Arch Capital Group

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. State Street Corp increased its position in Arch Capital Group by 1.1% in the 3rd quarter. State Street Corp now owns 16,587,446 shares of the insurance provider’s stock valued at $1,855,803,000 after acquiring an additional 172,628 shares in the last quarter. Geode Capital Management LLC increased its position in Arch Capital Group by 2.4% in the 3rd quarter. Geode Capital Management LLC now owns 10,830,263 shares of the insurance provider’s stock valued at $1,208,307,000 after acquiring an additional 253,648 shares in the last quarter. Principal Financial Group Inc. increased its position in Arch Capital Group by 4.8% in the 3rd quarter. Principal Financial Group Inc. now owns 7,438,738 shares of the insurance provider’s stock valued at $832,246,000 after acquiring an additional 337,786 shares in the last quarter. Allspring Global Investments Holdings LLC increased its position in Arch Capital Group by 1.0% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 5,124,251 shares of the insurance provider’s stock valued at $573,301,000 after acquiring an additional 49,426 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its position in Arch Capital Group by 6.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,925,288 shares of the insurance provider’s stock valued at $396,026,000 after acquiring an additional 244,285 shares in the last quarter. Institutional investors and hedge funds own 89.07% 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; 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.