Arch Capital Group (NASDAQ:ACGL) Given New $109.00 Price Target at Wells Fargo & Company

Arch Capital Group (NASDAQ:ACGL) had its target price dropped by investment analysts at Wells Fargo & Company from $118.00 to $109.00 in a note issued to investors on Tuesday,Benzinga reports. The firm presently has an “overweight” rating on the insurance provider’s stock. Wells Fargo & Company‘s target price indicates a potential upside of 13.60% from the stock’s previous close.

Other analysts also recently issued reports about the company. Bank of America decreased their target price on Arch Capital Group from $143.00 to $136.00 and set a “buy” rating for the company in a research report on Friday. JMP Securities lifted 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 research report on Tuesday, October 15th. BMO Capital Markets increased their price target on Arch Capital Group from $98.00 to $104.00 and gave the company a “market perform” rating in a report on Wednesday, November 6th. Citigroup increased their target price on Arch Capital Group from $105.00 to $114.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 10th. Finally, Royal Bank of Canada reduced their target price on shares of Arch Capital Group from $128.00 to $125.00 and set an “outperform” rating on the stock in a research note on Friday, November 1st. Six research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $118.38.

Arch Capital Group Trading Down 1.1 %

Shares of ACGL stock traded down $1.03 on Tuesday, reaching $95.95. The company had a trading volume of 360,546 shares, compared to its average volume of 1,673,591. The stock has a market cap of $36.10 billion, a PE ratio of 6.44, a PEG ratio of 1.47 and a beta of 0.61. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 0.17. Arch Capital Group has a 12 month low of $72.85 and a 12 month high of $116.47. The company has a 50-day moving average of $107.74 and a 200-day moving average of $103.38.

Arch Capital Group (NASDAQ:ACGL) last announced its earnings results on Wednesday, October 30th. The insurance provider reported $1.99 EPS for the quarter, topping the consensus estimate 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 company had revenue of $4.72 billion for the quarter, compared to analysts’ expectations of $4.05 billion. During the same period last year, the firm earned $2.31 earnings per share. On average, equities analysts forecast that Arch Capital Group will post 9.01 earnings per share for the current year.

Hedge Funds Weigh In On Arch Capital Group

Hedge funds have recently made changes to their positions in the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Arch Capital Group by 245.1% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,053,739 shares of the insurance provider’s stock valued at $341,652,000 after purchasing an additional 2,168,897 shares during the last quarter. Capital International Investors lifted its holdings in Arch Capital Group by 61.1% during the first quarter. Capital International Investors now owns 4,112,577 shares of the insurance provider’s stock worth $380,167,000 after acquiring an additional 1,560,173 shares in the last quarter. Erste Asset Management GmbH acquired a new position in shares of Arch Capital Group in the 3rd quarter valued at approximately $82,748,000. National Pension Service bought a new stake in Arch Capital Group in the 3rd quarter valued at $64,271,000. Finally, International Assets Investment Management LLC boosted its position in shares of Arch Capital Group by 18,634.1% during the third quarter. International Assets Investment Management LLC now owns 551,345 shares of the insurance provider’s stock worth $616,840,000 after buying an additional 548,402 shares during the period. 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.