We hate to say this but, we told you so. On February 27th we published an article with the title Recession is Imminent: We Need A Travel Ban NOW and predicted a US recession when the S&P 500 Index was trading at the 3150 level. We also told you to short the market and buy […]
Amid an overall bull market, many stocks that smart money investors were collectively bullish on surged through the end of November. Among them, Facebook and Microsoft ranked among the top 3 picks and these stocks gained 54% and 51% respectively. Our research shows that most of the stocks that smart money likes historically generate strong […]
Arch Capital (ACGL) expects pre-tax net losses across property, casualty and mortgage segments due to COVID-19 pandemic.
Players in the insurance industry are likely to have gained from increase in rate hikes and effect of share buyback, partly offset by catastrophe losses.
On March 11, 2020, the World Health Organization declared a pandemic in relation to the outbreak of COVID-19. The outbreak is causing unprecedented social disruption, global economic volatility, reduced liquidity of capital markets and intervention by various governments around the world. Arch Capital Group Ltd. [NASDAQ: ACGL; "the Company"] expects impacts on incurred losses and premium volumes on its business given increased market volatility and uncertainty.
Arch Capital (ACGL) reported earnings 30 days ago. What's next for the stock? We take a look at earnings estimates for some clues.
Arch Capital Group Ltd. Releases First Sustainability Report
Arch Capital's (ACGL) Q1 earnings reflect improved premiums across its segments, offset by lower net investment income and higher expenses.
Arch Capital (ACGL) is poised for growth on improved net premiums attributable to strong segmental performance and solid liquidity position.
The latest 13F reporting period has come and gone, and Insider Monkey is again at the forefront when it comes to making use of this gold mine of data. Insider Monkey finished processing more than 730 13F filings submitted by hedge funds and prominent investors. These filings show these funds' portfolio positions as of June […]
Baron Asset Fund recently published its first-quarter commentary – a copy of which can be downloaded here. During the first quarter of 2020, the Baron Asset Fund returned -16.63% (institutional shares). In comparison, the benchmark S&P 500 Index was down 19.60%, while the Russell Midcap Growth Index was down 20.04%. In the said letter, Baron Asset […]
Arch Capital (ACGL) inks deal to acquire majority stake in France-based trade-credit insurance firm, Coface.
ACGL earnings call for the period ending June 30, 2019.
Arch Capital Group Ltd. (NASDAQ:ACGL) announced today that due to the public health impact of the COVID-19 pandemic and to support the health and well-being of its shareholders, employees and directors, as well as their families and communities, it will move the originally planned in-person 2020 Annual Meeting of Shareholders (the "Annual Meeting") at the Company’s principal executive office, to a virtual meeting via a live webcast.
Arch Capital Group Ltd. [NASDAQ: ACGL] announced that it expects to release its 2020 first quarter results after the close of regular stock market hours on Monday, May 4, 2020. The Company will hold a conference call for investors and analysts at 11:00 a.m. Eastern Time on Tuesday, May 5, 2020.
Arch Capital Group Ltd. (NASDAQ: ACGL) announces its 2020 first quarter results. The results included:
Arch Capital's (ACGL) Q4 results reflect improved net premiums and strong segmental performance.
The Federal Reserve took aggressive action this month in the wake of the coronavirus outbreak by cutting interest rates by 0.5%, the largest rate cut since 2008. The latest rate cut also represented the fourth consecutive interest rate cut by the Fed.Throughout history, every single time the Fed has cut rates four consecutive times, the U.S. economy subsequently entered a recession. A weak economy and low interest rates are a double whammy for many banks and insurance companies that depend on interest income.Here are eight financial sector stocks to sell, according to Bank of America.U.S. Bancorp (NYSE: USB) U.S. Bancorp is the fifth largest commercial bank in the U.S.Analyst Erika Najarian recently said it will be difficult for U.S. Bancorp to generate positive operating leverage in 2020 given the current environment. In the fourth quarter, core expenses were up 3%, and management said on the earnings call expenses will likely continue to rise in the low single digits this year. Interest rate cuts will eat into net interest margins, and Najarian said the stock is fully priced given the near-term uncertainty.Bank of America has an Underperform rating and $63 price target for USB stock.Lloyds Banking Group PLC ADR (NYSE: LYG) Lloyds is one of the biggest banks in the UK. As bad as things are in the U.S. right now, they are much worse in Europe, especially in the UK.Analyst Rohith Chandra-Rajan recently said 2020 will be a challenging year for Lloyds given interest rates and pricing pressures. Heading into 2020, management guided for 2020 margins of between 2.75% and 2.8%, guidance that Chandra-Rajan said seemed optimistic even before the coronavirus outbreak ramped up. Chandra-Rajan said Lloyd's current stock valuation is more reflective of the company's past performance than its challenging future.Bank of America has an Underperform rating and $2.58 price target for LYG stock.See Also: 3 ETFs To Avoid Following The Fed's Latest Interest Rate CutBank of Montreal (NYSE: BMO) Bank of Montreal is the fourth-largest bank in Canada.Analyst Ebrahim Poonawala recently said the bank's rise in provision for credit losses last quarter was a red flag for investors that overshadowed the bank's strong operating trends. While management was mostly optimistic in their commentary, Poonawala said investors are understandably concerned about the bank's credit, especially given the potential for its relatively high commercial loan growth to create near-term earnings volatility. For now, Poonawala said investors need to take a cautious approach to Bank of Montreal and take advantage of better risk-reward skews elsewhere in the banking group.Bank of America has an Underperform rating and $78 price target for BMO stock.Willis Towers Watson PLC (NASDAQ: WLTW) Willis is the third-largest insurance broker in the world.Analyst Jay Cohen recently said Willis' organic growth has been solid, including 6% revenue growth last quarter. However, margins have been disappointing, and its Benefits Delivery & Administration segment has struggled. Management has guided for between 4% and 5% organic growth in 2020. Since it was formed by the merger of Willis Group Holdings and Towers Watson in 2016, Cohen says Willis Towers Watson has struggled to generate consistent results.Bank of America has an Underperform rating and $198 price target for WLTW stock.Arch Capital Group Ltd. (NASDAQ: ACGL) Arch Capital is a global insurance, reinsurance and mortgage insurance with a focus on specialty lines.Cohen recently said Arch's fourth-quarter earnings beat was mostly due to a lower-than-expected tax rate. He said Arch's mortgage results have been relatively strong, but a more normalized mortgage credit environment will likely pressure margins. Cohen said Arch is a well-managed company with a growing mortgage insurance business. He also praised the company's pristine balance sheet and opportunistic reinsurance growth. However, at the stock's current valuation, he said there are plenty of opportunities elsewhere in the sector with more upside.Bank of America has an Underperform rating and $43 price target for ACGL stock.Shinhan Financial Group Co., Ltd. (NYSE: SHG) Shinhan Financial is the largest financial group in Korea.Analyst Bryan Song recently said Shinhan's non-bank subsidiaries are creating challenges and earnings risk for the parent company. He said rising credit card loss provisions combined with a macroeconomic slowdown in Korea and an increasingly tight credit environment for non-banks has created risk for investors given Shinhan is Korea's largest credit card issuer. Sing said Shinhan has done a decent job of controlling provision expansion in the past, but he expects a rise in delinquencies in the near future.Bank of America has an Underperform rating and $43 price target for SHG stock.W. R. Berkley Corp (NYSE: WRB) W.R. Berkley is a property/casualty insurance and reinsurance holding company.Cohen recently said W.R. Berkley is well-positioned to benefit from an improving pricing environment for P/C insurers, but the stock is fully valued at recent levels. Cohen has praised the company's impressive return on equity and high-quality product portfolio. However, he said there are plenty of better values within the insurance group given W.R. Berkley shares trade at a significant premium to peers.Bank of America has an Underperform rating and $65 price target for WRB stock.Latest Ratings for LYG DateFirmActionFromTo Feb 2020Credit SuisseInitiates Coverage OnNeutral Oct 2019CitigroupDowngradesBuyNeutral Feb 2019Morgan StanleyUpgradesEqual-WeightOverweight View More Analyst Ratings for LYG View the Latest Analyst Ratings See more from Benzinga * Wall Street Weighs In On General Electric's Investor Call, Coronavirus Impact * Here's How Much Investing 0 In Costco Stock Back In 2010 Would Be Worth Today * Huge Option Trades In Delta Air Lines On News Of Buffett Buying, Travel Concerns(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
ACGL earnings call for the period ending March 31, 2020.