Arch Capital Group (NASDAQ:ACGL) Shares Gap Down Following Analyst Downgrade

Shares of Arch Capital Group Ltd. (NASDAQ:ACGL) gapped down before the market opened on Monday after Bank of America lowered their price target on the stock from $143.00 to $136.00. The stock had previously closed at $101.83, but opened at $96.55. Bank of America currently has a buy rating on the stock. Arch Capital Group shares last traded at $96.54, with a volume of 127,243 shares traded.

A number of other analysts have also recently issued reports on the stock. Wells Fargo & Company reduced their target price on shares of Arch Capital Group from $126.00 to $118.00 and set an “overweight” rating for the company in a research note on Monday, November 4th. Jefferies Financial Group lifted their price target on shares of Arch Capital Group from $114.00 to $134.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Barclays assumed coverage on shares of Arch Capital Group in a research report on Wednesday, September 4th. They issued an “equal weight” rating and a $120.00 price target on the stock. StockNews.com lowered shares of Arch Capital Group from a “buy” rating to a “hold” rating in a research report on Thursday, October 24th. Finally, TD Cowen boosted their target price on shares of Arch Capital Group from $116.00 to $138.00 and gave the stock a “buy” rating in a research report on Friday, September 20th. Six analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $118.94.

Institutional Investors Weigh In On Arch Capital Group

Institutional investors and hedge funds have recently made changes to their positions in the company. Farther Finance Advisors LLC lifted its position in Arch Capital Group by 12.8% during the 3rd quarter. Farther Finance Advisors LLC now owns 890 shares of the insurance provider’s stock worth $100,000 after buying an additional 101 shares in the last quarter. Fiduciary Financial Group LLC grew its position in shares of Arch Capital Group by 2.8% in the 3rd quarter. Fiduciary Financial Group LLC now owns 3,779 shares of the insurance provider’s stock valued at $415,000 after purchasing an additional 103 shares during the period. Baldwin Brothers LLC MA increased its position in shares of Arch Capital Group by 50.7% during the second quarter. Baldwin Brothers LLC MA now owns 309 shares of the insurance provider’s stock worth $31,000 after acquiring an additional 104 shares in the last quarter. Fidelis Capital Partners LLC lifted its holdings in shares of Arch Capital Group by 3.1% in the second quarter. Fidelis Capital Partners LLC now owns 3,553 shares of the insurance provider’s stock valued at $344,000 after purchasing an additional 106 shares in the last quarter. Finally, KG&L Capital Management LLC lifted its stake in Arch Capital Group by 1.1% in the 3rd quarter. KG&L Capital Management LLC now owns 10,854 shares of the insurance provider’s stock valued at $1,214,000 after acquiring an additional 115 shares in the last quarter. Institutional investors and hedge funds own 89.07% of the company’s stock.

Arch Capital Group Stock Down 5.5 %

The firm’s 50 day simple moving average is $108.03 and its 200-day simple moving average is $103.36. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 0.17. The stock has a market capitalization of $36.19 billion, a price-to-earnings ratio of 6.83, a price-to-earnings-growth ratio of 1.47 and a beta of 0.61.

Arch Capital Group (NASDAQ:ACGL) last issued 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. The company had revenue of $4.72 billion during the quarter, compared to the consensus estimate of $4.05 billion. Arch Capital Group had a return on equity of 18.94% and a net margin of 33.86%. During the same period in the previous year, the company posted $2.31 EPS. Equities analysts expect that Arch Capital Group Ltd. will post 9.01 earnings per share for the current fiscal year.

Arch Capital Group Dividend Announcement

The company also recently declared a special dividend, which will be paid on Wednesday, December 4th. Investors of record on Monday, November 18th will be issued a dividend of $5.00 per share. The ex-dividend date is Monday, November 18th.

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.