Arch Capital Group (NASDAQ:ACGL) Price Target Cut to $106.00 by Analysts at JPMorgan Chase & Co.

Arch Capital Group (NASDAQ:ACGL) had its target price lowered by equities research analysts at JPMorgan Chase & Co. from $110.00 to $106.00 in a report issued on Friday,Benzinga reports. The brokerage currently has a “neutral” rating on the insurance provider’s stock. JPMorgan Chase & Co.‘s target price suggests a potential upside of 15.97% from the company’s previous close.

ACGL has been the topic of several other research reports. Royal Bank of Canada dropped 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 report on Friday, November 1st. Jefferies Financial Group upped their target price on Arch Capital Group from $114.00 to $134.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. TD Cowen lifted their price target on Arch Capital Group from $116.00 to $138.00 and gave the stock a “buy” rating in a research report on Friday, September 20th. Wells Fargo & Company cut their price objective on Arch Capital Group from $118.00 to $109.00 and set an “overweight” rating on the stock in a report on Tuesday, November 19th. Finally, BMO Capital Markets lifted their target price on Arch Capital Group from $98.00 to $104.00 and gave the stock a “market perform” rating in a report on Wednesday, November 6th. Six research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, Arch Capital Group presently has a consensus rating of “Moderate Buy” and a consensus target price of $118.13.

Arch Capital Group Stock Performance

Shares of ACGL opened at $91.40 on Friday. Arch Capital Group has a 12 month low of $74.85 and a 12 month high of $116.47. The stock has a fifty day moving average price of $96.72 and a 200-day moving average price of $102.15. 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 firm has a market cap of $34.39 billion, a PE ratio of 6.13, a P/E/G ratio of 1.49 and a beta of 0.62.

Arch Capital Group (NASDAQ:ACGL) last released its quarterly earnings results on Wednesday, October 30th. The insurance provider reported $1.99 EPS for the quarter, beating analysts’ consensus estimates of $1.94 by $0.05. Arch Capital Group had a return on equity of 18.94% and a net margin of 33.86%. The company had revenue of $4.72 billion during the quarter, compared to analysts’ expectations of $4.05 billion. During the same period last year, the business posted $2.31 earnings per share. Equities research analysts predict that Arch Capital Group will post 8.99 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Arch Capital Group

Hedge funds have recently bought and sold shares of the business. Quantbot Technologies LP purchased a new stake in shares of Arch Capital Group in the third quarter valued at approximately $25,000. Rothschild Investment LLC purchased a new stake in Arch Capital Group in the 2nd quarter worth $35,000. Compagnie Lombard Odier SCmA purchased a new stake in Arch Capital Group in the 3rd quarter worth $46,000. UMB Bank n.a. raised its position in Arch Capital Group by 41.9% during the third quarter. UMB Bank n.a. now owns 427 shares of the insurance provider’s stock worth $48,000 after acquiring an additional 126 shares during the period. Finally, Asset Dedication LLC lifted its holdings in Arch Capital Group by 188.1% during the third quarter. Asset Dedication LLC now owns 435 shares of the insurance provider’s stock valued at $49,000 after purchasing an additional 284 shares in the last quarter. Hedge funds and other institutional investors 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.