Cantor Fitzgerald Upgrades Arch Capital Group (NASDAQ:ACGL) to Hold

Key Points

• Cantor Fitzgerald has upgraded Arch Capital Group to a "hold" rating, reflecting a shift in analyst sentiment.
• The stock has a market capitalization of $33.57 billion and a current price target consensus of $112.06 among analysts.
• Arch Capital Group recently reported earnings of $2.58 EPS, surpassing analyst estimates, with a revenue of $4.35 billion for the quarter.

Arch Capital Group (NASDAQ:ACGL - Get Free Report) was upgraded by stock analysts at Cantor Fitzgerald to a "hold" rating in a research note issued to investors on Wednesday,Zacks.com reports.

ACGL has been the subject of several other reports. Cowen reaffirmed a "buy" rating on shares of Arch Capital Group in a report on Monday, August 4th. JMP Securities restated a "market outperform" rating and issued a $125.00 price target on shares of Arch Capital Group in a research report on Wednesday, April 30th. Citigroup assumed coverage on Arch Capital Group in a research note on Wednesday. They set a "buy" rating and a $113.00 price target for the company. Keefe, Bruyette & Woods boosted their price objective on shares of Arch Capital Group from $101.00 to $102.00 and gave the stock a "market perform" rating in a research report on Tuesday, August 5th. Finally, UBS Group restated a "buy" rating and set a $118.00 target price (down from $124.00) on shares of Arch Capital Group in a report on Monday, August 4th. Eight equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $112.06.

Arch Capital Group Stock Up 2.5%

Shares of NASDAQ ACGL opened at $89.95 on Wednesday. The stock has a market capitalization of $33.57 billion, a price-to-earnings ratio of 9.28, a price-to-earnings-growth ratio of 5.39 and a beta of 0.49. Arch Capital Group has a 52 week low of $82.49 and a 52 week high of $116.47. The firm has a 50-day moving average price of $89.46 and a 200 day moving average price of $91.32. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 0.16.

Arch Capital Group (NASDAQ:ACGL - Get Free Report) last issued its earnings results on Tuesday, July 29th. The insurance provider reported $2.58 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.30 by $0.28. The company had revenue of $4.35 billion during the quarter, compared to analysts' expectations of $4.29 billion. Arch Capital Group had a net margin of 19.49% and a return on equity of 15.33%. During the same period last year, the company posted $2.57 earnings per share. Equities research analysts anticipate that Arch Capital Group will post 8.42 EPS for the current fiscal year.

Insider Buying and Selling

In other Arch Capital Group news, CFO Francois Morin sold 12,630 shares of the stock in a transaction on Friday, May 16th. The stock was sold at an average price of $94.58, for a total transaction of $1,194,545.40. Following the transaction, the chief financial officer owned 274,681 shares of the company's stock, valued at $25,979,328.98. This represents a 4.40% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Insiders own 4.20% of the company's stock.

Institutional Investors Weigh In On Arch Capital Group

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Harbour Investments Inc. boosted its stake in Arch Capital Group by 8.4% in the 1st quarter. Harbour Investments Inc. now owns 1,431 shares of the insurance provider's stock worth $138,000 after buying an additional 111 shares during the last quarter. TD Waterhouse Canada Inc. lifted its holdings in shares of Arch Capital Group by 31.4% during the 2nd quarter. TD Waterhouse Canada Inc. now owns 469 shares of the insurance provider's stock worth $43,000 after acquiring an additional 112 shares during the period. Crescent Grove Advisors LLC boosted its position in shares of Arch Capital Group by 3.1% in the second quarter. Crescent Grove Advisors LLC now owns 3,702 shares of the insurance provider's stock worth $337,000 after acquiring an additional 112 shares during the last quarter. Resonant Capital Advisors LLC grew its holdings in Arch Capital Group by 1.7% in the first quarter. Resonant Capital Advisors LLC now owns 6,672 shares of the insurance provider's stock valued at $642,000 after purchasing an additional 113 shares during the period. Finally, Venturi Wealth Management LLC increased its position in Arch Capital Group by 0.9% during the first quarter. Venturi Wealth Management LLC now owns 13,228 shares of the insurance provider's stock worth $1,272,000 after purchasing an additional 115 shares during the last quarter. Hedge funds and other institutional investors own 89.07% of the company's stock.

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.

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