Morgan Downgrades Arch Shares
Equities research analysts at J.P. Morgan Chase & Co. downgraded shares of Bermuda-based Arch Capital from a “neutral” rating to an “underweight” rating in a research note to clients and investors on Monday (Dec. 6). The analysts currently have a $78 price target on the stock.
Arch Capital, headquarter in Wessex House on Reid Street, Hamilton, provides a range of insurance and reinsurance products internationally. Its insurance segment offers a wide variety of insurance products to independent retail and wholesale brokers. The reinsurance segment reinsures third party liability and workers compensation exposures, individual property risks, non standard risk, catastrophic perils, and aviation risks.
Its insurance operations are conducted in Bermuda, the United States, Europe, Canada, Australia and South Africa. Its reinsurance operations are conducted on a worldwide basis through its reinsurance subsidiaries, Arch Reinsurance Ltd., Arch Reinsurance Company and Reinsurance Europe Underwriting Limited. Arch Re Bermuda is headquartered in Hamilton, Bermuda. Arch Re US operates out of its office in Morristown, New Jersey.
Shares of Arch Capital have had a 52-week low of $65.70 and a 52-week high of $92.05.
