Keefe Bruyette analyst Meyer Shields lowered the firm’s price target on Arch Capital (ACGL) to $120 from $121 and keeps an Outperform rating on the shares as part of a Q4 earnings preview for the property and casualty sector. The results will include slowing written commercial and specialty premium growth, as well as “significant but manageable” reinsured catastrophe losses from hurricanes, the analyst tells investors in a research note. Keefe mostly raised Q4 catastrophe loads for property and casualty insurers citing “persistent Helene loss creep.”
Invest with Confidence:
- Follow TipRanks' Top Wall Street Analysts to uncover their success rate and average return.
- Join thousands of data-driven investors – Build your Smart Portfolio for personalized insights.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on ACGL:
- LA Fires Slam Insurers Chubb (NYSE:CB) and Allstate as Costs Surge to $20B
- JPMorgan sees ‘high but manageable’ insurance losses from LA fires
- Arch Capital price target lowered to $100 from $120 at Barclays
- Arch Capital price target lowered to $106 from $110 at JPMorgan
- Arch Capital renews $1B share repurchase authorization