Arch Capital Group Ltd. (ACGL) was Upgraded by UBS to ” Buy” according to the research note released today. The brokerage firm has raised the Price Target to $ 98 from a previous price target of $73 . Earlier the firm had a rating of “Neutral ” on the company shares. UBS advised their investors in a research report released on Sep 6, 2016.
Many Wall Street Analysts have commented on Arch Capital Group Ltd.. Company shares were Reiterated by RBC Capital Mkts on Aug 17, 2016 to “Outperform”, Firm has raised the Price Target to $ 87 from a previous price target of $80 .
On the company’s financial health, Arch Capital Group Ltd. reported $1.13 EPS for the quarter, beating the analyst consensus estimate by $ 0.16 according to the earnings call on Jul 27, 2016. Analyst had a consensus of $0.97.Analysts expectations of $ 971.29.During the same quarter in the previous year, the company posted $1.16 EPS.
Arch Capital Group Ltd. opened for trading at $80.93 and hit $81.57 on the upside on Thursday, eventually ending the session at $81.41, with a gain of 0.58% or 0.47 points. The heightened volatility saw the trading volume jump to 3,41,379 shares. Company has a market cap of $9,979 M.
In a different news, on Sep 1, 2016, Mark Donald Lyons (EVP,CFO & Treasurer) sold 4,812 shares at $80.34 per share price. According to the SEC, on Aug 31, 2016, Constantine Iordanou (Chairman & CEO) sold 50,000 shares at $79.50 per share price. On Aug 24, 2016, Louis T Petrillo (Officer of Subsidiary) sold 8,635 shares at $79.42 per share price, according to the Form-4 filing with the securities and exchange commission.
Arch Capital Group Ltd. (ACGL) writes insurance and reinsurance on an around the world basis. The Company operates in two underwriting segments: insurance and reinsurance and mortgage. The insurance segments product lines include construction and national accounts; excess and surplus casualty; lenders products; professional lines; programs; property energy marine and aviation; travel accident and health and other (consisting of alternative markets excess workers’ compensation and surety business). The reinsurance segments product lines include casualty; marine and aviation; other specialty; property catastrophe; property excluding property catastrophe and other (consisting of life reinsurance casualty clash and other). The mortgage segment consists of the Companys mortgage insurance and reinsurance business and includes the results of Arch MI U.S. which provides mortgage insurance to banks and other lenders across the nation including existing credit union customers.