Fintel reports that on September 8, 2023, Goldman Sachs initiated coverage of Arch Capital Group (NASDAQ:ACGL) with a Neutral recommendation.

Analyst Price Forecast Suggests 18.54% Upside

As of August 31, 2023, the average one-year price target for Arch Capital Group is 92.31. The forecasts range from a low of 78.78 to a high of $105.00. The average price target represents an increase of 18.54% from its latest reported closing price of 77.87.

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The projected annual revenue for Arch Capital Group is 11,833MM, an increase of 0.37%. The projected annual non-GAAP EPS is 5.59.

What is the Fund Sentiment?

There are 1395 funds or institutions reporting positions in Arch Capital Group. This is an increase of 37 owner(s) or 2.72% in the last quarter. Average portfolio weight of all funds dedicated to ACGL is 0.43%, a decrease of 1.71%. Total shares owned by institutions decreased in the last three months by 2.14% to 427,814K shares. The put/call ratio of ACGL is 1.32, indicating a bearish outlook.

What are Other Shareholders Doing?

Artisan Partners Limited Partnership holds 25,958K shares representing 7.00% ownership of the company. In it’s prior filing, the firm reported owning 28,100K shares, representing a decrease of 8.25%. The firm decreased its portfolio allocation in ACGL by 0.39% over the last quarter.

Bamco holds 21,297K shares representing 5.74% ownership of the company. In it’s prior filing, the firm reported owning 21,291K shares, representing an increase of 0.03%. The firm increased its portfolio allocation in ACGL by 1.76% over the last quarter.

ARTKX – Artisan International Value Fund Investor Shares holds 17,810K shares representing 4.80% ownership of the company. In it’s prior filing, the firm reported owning 19,131K shares, representing a decrease of 7.42%. The firm decreased its portfolio allocation in ACGL by 4.32% over the last quarter.

Wcm Investment Management holds 13,752K shares representing 3.71% ownership of the company. In it’s prior filing, the firm reported owning 12,769K shares, representing an increase of 7.15%. The firm increased its portfolio allocation in ACGL by 12.04% over the last quarter.

VTSMX – Vanguard Total Stock Market Index Fund Investor Shares holds 11,048K shares representing 2.98% ownership of the company. In it’s prior filing, the firm reported owning 10,894K shares, representing an increase of 1.39%. The firm increased its portfolio allocation in ACGL by 3.19% over the last quarter.

Arch Capital Group Background Information
(This description is provided by the company.)

Arch Capital Group Ltd., a Bermuda-based company with approximately $15.2 billion in capital at Sept. 30, 2020, provides insurance, reinsurance and mortgage insurance on a worldwide basis through its wholly owned subsidiaries.

This article originally appeared on Fintel

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