Keefe, Bruyette & Woods Lowers Arch Capital Group (NASDAQ:ACGL) Price Target to $99.00

Key Points

• Keefe, Bruyette & Woods cut Arch Capital Group’s price target to $99 from $102 and kept a market perform rating, implying modest downside from the prior close.
• Analyst views remain mixed overall: the stock has eight Buy ratings, seven Hold ratings, and one Sell rating, with a consensus Hold and an average price target of $106.96.
• Arch Capital Group recently reported $2.50 EPS and $4.52 billion in quarterly revenue, while the stock opened at $102.85 and has traded near its 1-year high.

Arch Capital Group (NASDAQ:ACGL - Get Free Report) had its price target dropped by investment analysts at Keefe, Bruyette & Woods from $102.00 to $99.00 in a research note issued on Wednesday,Benzinga reports. The firm currently has a "market perform" rating on the insurance provider's stock. Keefe, Bruyette & Woods' price target suggests a potential downside of 3.74% from the stock's previous close.

Several other analysts have also issued reports on ACGL. Wells Fargo & Company boosted their target price on shares of Arch Capital Group from $109.00 to $110.00 and gave the company an "overweight" rating in a research report on Thursday, April 30th. Weiss Ratings downgraded shares of Arch Capital Group from a "buy (b)" rating to a "buy (b-)" rating in a research report on Monday, May 18th. Morgan Stanley boosted their price objective on Arch Capital Group from $105.00 to $110.00 and gave the company an "overweight" rating in a research note on Monday. JPMorgan Chase & Co. decreased their target price on shares of Arch Capital Group from $117.00 to $110.00 and set a "neutral" rating on the stock in a research note on Monday, April 20th. Finally, Barclays lifted their price target on shares of Arch Capital Group from $104.00 to $106.00 and gave the company an "equal weight" rating in a report on Wednesday, April 8th. Eight investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Arch Capital Group has an average rating of "Hold" and an average price target of $106.96.

Arch Capital Group Price Performance

NASDAQ ACGL opened at $102.85 on Wednesday. The stock has a market capitalization of $35.93 billion, a price-to-earnings ratio of 7.90, a PEG ratio of 5.10 and a beta of 0.31. Arch Capital Group has a 1-year low of $82.44 and a 1-year high of $105.09. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.55 and a quick ratio of 0.55. The business's fifty day moving average price is $94.06 and its 200-day moving average price is $95.37.

Arch Capital Group (NASDAQ:ACGL - Get Free Report) last announced its earnings results on Tuesday, March 31st. The insurance provider reported $2.50 earnings per share (EPS) for the quarter. Arch Capital Group had a return on equity of 17.61% and a net margin of 24.64%.The business had revenue of $4.52 billion for the quarter. On average, equities analysts predict that Arch Capital Group will post 9.29 earnings per share for the current year.

Insiders Place Their Bets

In other Arch Capital Group news, Director Daniel Joseph Houston purchased 5,300 shares of the firm's stock in a transaction that occurred on Thursday, April 30th. The shares were bought at an average price of $94.08 per share, with a total value of $498,624.00. Following the completion of the purchase, the director directly owned 9,915 shares in the company, valued at $932,803.20. This trade represents a 114.84% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Brian S. Posner sold 3,000 shares of Arch Capital Group stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $19.66, for a total transaction of $58,980.00. Additional details regarding this sale are available in the official SEC disclosure. 3.30% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Arch Capital Group

Several large investors have recently added to or reduced their stakes in the stock. GAMMA Investing LLC lifted its stake in shares of Arch Capital Group by 4.0% in the 2nd quarter. GAMMA Investing LLC now owns 11,784 shares of the insurance provider's stock valued at $1,144,000 after purchasing an additional 448 shares during the last quarter. Harbor Investment Advisory LLC boosted its holdings in shares of Arch Capital Group by 12.5% in the 2nd quarter. Harbor Investment Advisory LLC now owns 6,001 shares of the insurance provider's stock worth $582,000 after purchasing an additional 665 shares during the period. Versant Capital Management Inc increased its position in shares of Arch Capital Group by 30.1% during the 2nd quarter. Versant Capital Management Inc now owns 1,860 shares of the insurance provider's stock valued at $181,000 after purchasing an additional 430 shares during the last quarter. Western Wealth Management LLC bought a new position in shares of Arch Capital Group during the 1st quarter valued at approximately $146,000. Finally, Rathbones Group PLC raised its holdings in Arch Capital Group by 135.9% during the 1st quarter. Rathbones Group PLC now owns 43,324 shares of the insurance provider's stock valued at $4,159,000 after buying an additional 24,955 shares during the period. 89.07% of the stock is owned by institutional investors.

About Arch Capital Group

Arch Capital Group Ltd. NASDAQ: ACGL is a Bermuda-based insurance and reinsurance holding company that underwrites a broad range of property and casualty, mortgage, and specialty risk products. The company operates through a group of underwriting subsidiaries and platforms to provide insurance, reinsurance and related risk solutions tailored to commercial, institutional and individual clients.

Arch's product mix includes treaty and facultative reinsurance, primary casualty and property insurance, mortgage insurance and other specialty lines.

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