Goldman Sachs Initiates Coverage of Arch Capital With Neutral Recommendation

By 247patrick Published Sep 8, 10:31PM EDT

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Goldman Sachs Initiates Coverage of Arch Capital With Neutral Recommendation — © Tero Vesalainen / Getty Images

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.

See our leaderboard of companies with the largest price target upside.

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