Arch Capital Group (NASDAQ:ACGL) Hits New 1-Year High on Analyst Upgrade

Arch Capital Group Ltd. (NASDAQ:ACGL) shares reached a new 52-week high on Monday after Wells Fargo & Company raised their price target on the stock from $107.00 to $119.00. Wells Fargo & Company currently has an overweight rating on the stock. Arch Capital Group traded as high as $107.18 and last traded at $106.8220, with a volume of 42,099 shares traded. The stock had previously closed at $106.36.

A number of other equities analysts have also commented on ACGL. Cantor Fitzgerald boosted their price target on shares of Arch Capital Group from $105.00 to $111.00 and gave the company a “neutral” rating in a research report on Monday. BMO Capital Markets boosted their target price on Arch Capital Group from $95.00 to $102.00 in a report on Wednesday, August 5th. Weiss Ratings upgraded Arch Capital Group from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, October 9th. Mizuho set a $100.00 price target on Arch Capital Group and gave the company a “neutral” rating in a report on Wednesday, September 16th. Finally, Bank of America lifted their price objective on Arch Capital Group from $129.00 to $131.00 and gave the company a “buy” rating in a research report on Monday, October 12th. Seven analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $111.00.

Insider Activity at Arch Capital Group

In related news, CFO Francois Morin sold 11,010 shares of the stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $99.32, for a total value of $1,093,513.20. Following the sale, the chief financial officer directly owned 184,826 shares in the company, valued at $18,356,918.32. This trade represents a 5.62% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 3.30% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. Horizons Wealth Management acquired a new stake in Arch Capital Group in the third quarter worth $25,000. Torren Management LLC raised its stake in Arch Capital Group by 66.9% during the 2nd quarter. Torren Management LLC now owns 292 shares of the insurance provider’s stock worth $28,000 after buying an additional 117 shares during the period. Continuum Advisory LLC acquired a new stake in Arch Capital Group during the 2nd quarter worth $46,000. Provenance Wealth Advisors LLC bought a new position in Arch Capital Group during the third quarter worth about $55,000. Finally, Westpac Banking Corp bought a new position in Arch Capital Group during the first quarter worth about $69,000. Institutional investors and hedge funds own 89.07% of the company’s stock.

Arch Capital Group Trading Up 0.5%

The business has a 50 day moving average of $97.94 and a 200-day moving average of $96.77. The company has a current ratio of 0.56, a quick ratio of 0.57 and a debt-to-equity ratio of 0.21. The firm has a market capitalization of $36.48 billion, a P/E ratio of 8.74, a PEG ratio of 3.54 and a beta of 0.22.

Arch Capital Group (NASDAQ:ACGL) last released its earnings results on Tuesday, October 27th. The insurance provider reported $2.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.31 by $0.36. Arch Capital Group had a return on equity of 16.62% and a net margin of 23.31%. The firm had revenue of $4.66 billion during the quarter, compared to analysts’ expectations of $4.06 billion. During the same quarter in the prior year, the company earned $2.77 EPS. Analysts anticipate that Arch Capital Group Ltd. will post 10.02 EPS for the current fiscal year.

About Arch Capital Group

Arch Capital Group Ltd. is a Bermuda-based insurance, reinsurance and mortgage insurance company whose shares trade on the Nasdaq under the symbol ACGL. The company was established in 1995 and has developed into a global provider of specialty risk-management products and services.

Through its insurance operations, Arch offers property, casualty, specialty, and accident and health coverage to businesses and other policyholders. Its reinsurance operations provide coverage and risk-transfer solutions to insurance companies across a range of property and casualty lines.