Arch Capital Group (NASDAQ:ACGL) Price Target Lowered to $106.00 at Wells Fargo & Company

Arch Capital Group (NASDAQ:ACGL) had its price objective cut by Wells Fargo & Company from $107.00 to $106.00 in a research note issued to investors on Wednesday,Benzinga reports. They currently have an overweight rating on the insurance provider’s stock.

Several other brokerages have also commented on ACGL. JMP Securities reaffirmed a “market outperform” rating and issued a $125.00 price objective on shares of Arch Capital Group in a report on Tuesday. Royal Bank of Canada reduced their price target 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. Bank of America dropped their price objective on shares of Arch Capital Group from $143.00 to $136.00 and set a “buy” rating on the stock in a report on Friday, November 15th. JPMorgan Chase & Co. cut their target price on shares of Arch Capital Group from $110.00 to $106.00 and set a “neutral” rating for the company in a research report on Friday, January 3rd. Finally, BMO Capital Markets increased their price target on shares of Arch Capital Group from $98.00 to $104.00 and gave the stock a “market perform” rating in a research report on Wednesday, November 6th. Six equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $116.93.

Arch Capital Group Stock Performance

Shares of NASDAQ ACGL opened at $88.26 on Wednesday. The firm’s 50-day moving average price is $92.89 and its 200-day moving average price is $101.06. Arch Capital Group has a 52-week low of $83.12 and a 52-week high of $116.47. The company has a market cap of $33.21 billion, a PE ratio of 5.92, a PEG ratio of 1.53 and a beta of 0.64. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 0.17.

Arch Capital Group (NASDAQ:ACGL) last issued its earnings results on Monday, February 10th. The insurance provider reported $2.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.90 by $0.36. Arch Capital Group had a net margin of 33.86% and a return on equity of 18.94%. During the same period in the previous year, the company earned $2.45 EPS. As a group, analysts anticipate that Arch Capital Group will post 8.86 EPS for the current year.

Hedge Funds Weigh In On Arch Capital Group

Several large investors have recently made changes to their positions in ACGL. Quantbot Technologies LP bought a new stake in Arch Capital Group during the 3rd quarter valued at approximately $25,000. Cullen Frost Bankers Inc. purchased a new stake in Arch Capital Group during the 4th quarter valued at approximately $37,000. Golden State Wealth Management LLC bought a new stake in shares of Arch Capital Group during the fourth quarter valued at approximately $42,000. Y.D. More Investments Ltd lifted its holdings in shares of Arch Capital Group by 125.6% in the fourth quarter. Y.D. More Investments Ltd now owns 467 shares of the insurance provider’s stock worth $43,000 after buying an additional 260 shares in the last quarter. Finally, Asset Dedication LLC boosted its position in shares of Arch Capital Group by 188.1% during the third quarter. Asset Dedication LLC now owns 435 shares of the insurance provider’s stock worth $49,000 after acquiring an additional 284 shares during the last quarter. 89.07% of the stock is currently owned by hedge funds and other institutional investors.

About Arch Capital Group

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.