Arch Capital Group (NASDAQ:ACGL) Price Target Raised to $114.00

Arch Capital Group (NASDAQ:ACGL) had its price objective raised by research analysts at Wells Fargo & Company from $110.00 to $114.00 in a report released on Thursday,Benzinga reports. The firm currently has an “overweight” rating on the insurance provider’s stock. Wells Fargo & Company‘s price objective would suggest a potential upside of 12.62% from the company’s previous close.

ACGL has been the topic of several other reports. Keefe, Bruyette & Woods cut their target price on shares of Arch Capital Group from $102.00 to $99.00 and set a “market perform” rating on the stock in a research report on Wednesday. Mizuho raised their price target on shares of Arch Capital Group from $101.00 to $104.00 and gave the company a “neutral” rating in a research note on Thursday. JPMorgan Chase & Co. dropped their price target on shares of Arch Capital Group from $117.00 to $110.00 and set a “neutral” rating for the company in a research note on Monday, April 20th. Weiss Ratings lowered shares of Arch Capital Group from a “buy (b)” rating to a “buy (b-)” rating in a report on Monday, May 18th. Finally, Barclays increased their price objective on Arch Capital Group from $104.00 to $106.00 and gave the company an “equal weight” rating in a report on Wednesday, April 8th. Eight research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $108.12.

Arch Capital Group Price Performance

Shares of ACGL traded down $0.78 during trading hours on Thursday, reaching $101.23. The stock had a trading volume of 607,427 shares, compared to its average volume of 2,161,207. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.55 and a current ratio of 0.55. Arch Capital Group has a 12 month low of $82.44 and a 12 month high of $105.09. The stock has a market capitalization of $35.37 billion, a PE ratio of 7.78, a PEG ratio of 5.16 and a beta of 0.31. The company’s 50-day moving average is $94.18 and its two-hundred day moving average is $95.41.

Arch Capital Group (NASDAQ:ACGL) last issued its earnings results on Tuesday, March 31st. The insurance provider reported $2.50 earnings per share (EPS) for the quarter. The business had revenue of $4.52 billion during the quarter. Arch Capital Group had a return on equity of 17.61% and a net margin of 24.64%. Research analysts expect that Arch Capital Group will post 9.28 EPS for the current year.

Insider Buying and Selling

In other news, Director Brian S. Posner sold 3,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $19.66, for a total value of $58,980.00. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Daniel Joseph Houston acquired 5,300 shares of Arch Capital Group stock in a transaction dated Thursday, April 30th. The stock was purchased at an average cost of $94.08 per share, for a total transaction of $498,624.00. Following the completion of the purchase, the director owned 9,915 shares in the company, valued at approximately $932,803.20. The trade was a 114.84% increase in their position. The disclosure for this purchase is available in the SEC filing. Corporate insiders own 3.30% of the company’s stock.

Hedge Funds Weigh In On Arch Capital Group

A number of hedge funds have recently bought and sold shares of ACGL. Daymark Wealth Partners LLC boosted its position in Arch Capital Group by 3.4% during the fourth quarter. Daymark Wealth Partners LLC now owns 3,211 shares of the insurance provider’s stock valued at $308,000 after acquiring an additional 106 shares during the last quarter. Keel Point LLC raised its position in shares of Arch Capital Group by 4.6% in the 3rd quarter. Keel Point LLC now owns 2,524 shares of the insurance provider’s stock worth $229,000 after acquiring an additional 112 shares in the last quarter. Legacy Advisors LLC lifted its stake in shares of Arch Capital Group by 1.2% in the 4th quarter. Legacy Advisors LLC now owns 9,551 shares of the insurance provider’s stock valued at $916,000 after purchasing an additional 112 shares during the period. Twin Capital Management Inc. lifted its stake in shares of Arch Capital Group by 1.4% in the 1st quarter. Twin Capital Management Inc. now owns 8,177 shares of the insurance provider’s stock valued at $785,000 after purchasing an additional 116 shares during the period. Finally, V Square Quantitative Management LLC boosted its position in shares of Arch Capital Group by 1.3% during the 1st quarter. V Square Quantitative Management LLC now owns 9,453 shares of the insurance provider’s stock valued at $907,000 after purchasing an additional 123 shares in the last quarter. Institutional investors own 89.07% of the company’s stock.

Arch Capital Group Company Profile

Arch Capital Group Ltd. (NASDAQ: ACGL) is a Bermuda-based insurance and reinsurance holding company that underwrites a broad range of property and casualty, mortgage, and specialty risk products. The company operates through a group of underwriting subsidiaries and platforms to provide insurance, reinsurance and related risk solutions tailored to commercial, institutional and individual clients.

Arch’s product mix includes treaty and facultative reinsurance, primary casualty and property insurance, mortgage insurance and other specialty lines.