Arch Capital Group (NASDAQ:ACGL) Price Target Raised to $110.00

Arch Capital Group (NASDAQ:ACGL) had its target price hoisted by Wells Fargo & Company from $109.00 to $110.00 in a research note released on Wednesday morning, Benzinga reports. The brokerage currently has an overweight rating on the insurance provider’s stock.

Several other research analysts have also issued reports on ACGL. Bank of America upped their target price on shares of Arch Capital Group from $105.00 to $109.00 and gave the stock a buy rating in a research report on Tuesday. TD Cowen assumed coverage on Arch Capital Group in a report on Wednesday, January 10th. They issued an outperform rating and a $96.00 price objective for the company. Evercore ISI upped their target price on Arch Capital Group from $98.00 to $100.00 and gave the stock an in-line rating in a research note on Tuesday. Roth Mkm reissued a buy rating and set a $110.00 price target on shares of Arch Capital Group in a research note on Tuesday. Finally, StockNews.com cut shares of Arch Capital Group from a buy rating to a hold rating in a research note on Monday, March 11th. Four equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of Moderate Buy and an average price target of $100.67.

Arch Capital Group Price Performance

Arch Capital Group stock opened at $94.41 on Wednesday. The business has a 50-day simple moving average of $91.01 and a 200 day simple moving average of $84.71. Arch Capital Group has a 52 week low of $69.05 and a 52 week high of $96.58. The stock has a market cap of $35.42 billion, a price-to-earnings ratio of 7.45, a PEG ratio of 1.14 and a beta of 0.57. The company has a quick ratio of 0.57, a current ratio of 0.59 and a debt-to-equity ratio of 0.17.

Arch Capital Group (NASDAQ:ACGL) last issued its quarterly earnings data on Monday, April 29th. The insurance provider reported $2.45 EPS for the quarter, topping the consensus estimate of $2.06 by $0.39. Arch Capital Group had a return on equity of 21.85% and a net margin of 33.65%. The company had revenue of $4.09 billion during the quarter, compared to analyst estimates of $3.77 billion. During the same quarter in the previous year, the firm earned $1.73 earnings per share. Arch Capital Group’s revenue was up 19.3% on a year-over-year basis. On average, research analysts forecast that Arch Capital Group will post 8.4 earnings per share for the current fiscal year.

Insider Activity at Arch Capital Group

In other Arch Capital Group news, CEO Maamoun Rajeh sold 50,000 shares of the stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $87.48, for a total value of $4,374,000.00. Following the completion of the sale, the chief executive officer now owns 336,170 shares in the company, valued at approximately $29,408,151.60. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, insider Nicolas Papadopoulo sold 60,000 shares of the stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $87.52, for a total value of $5,251,200.00. Following the completion of the transaction, the insider now directly owns 651,931 shares of the company’s stock, valued at $57,057,001.12. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Maamoun Rajeh sold 50,000 shares of Arch Capital Group stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $87.48, for a total value of $4,374,000.00. Following the sale, the chief executive officer now directly owns 336,170 shares in the company, valued at $29,408,151.60. The disclosure for this sale can be found here. Insiders have sold a total of 135,689 shares of company stock worth $11,872,217 in the last 90 days. Company insiders own 4.20% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in ACGL. Avidian Wealth Solutions LLC purchased a new position in Arch Capital Group during the first quarter valued at $222,000. TFB Advisors LLC lifted its position in Arch Capital Group by 80.5% during the 1st quarter. TFB Advisors LLC now owns 5,446 shares of the insurance provider’s stock valued at $522,000 after acquiring an additional 2,429 shares during the period. Mediolanum International Funds Ltd bought a new stake in Arch Capital Group during the first quarter worth about $23,827,000. Commerce Bank boosted its stake in Arch Capital Group by 1.4% during the first quarter. Commerce Bank now owns 469,180 shares of the insurance provider’s stock worth $43,371,000 after acquiring an additional 6,566 shares in the last quarter. Finally, Central Pacific Bank Trust Division purchased a new stake in Arch Capital Group in the first quarter worth about $455,000. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Arch Capital Group Company Profile

Arch Capital Group Ltd., together with its subsidiaries, provides insurance, reinsurance, and mortgage insurance products worldwide. The company's Insurance segment offers primary and excess casualty coverages; loss sensitive primary casualty insurance programs; directors' and officers' liability, errors and omissions liability, employment practices and fiduciary liability, crime, professional indemnity, and other financial related coverages; medical professional and general liability insurance coverages; and workers' compensation and umbrella liability, as well as commercial automobile and inland marine products.