Arch Capital Group (NASDAQ:ACGL) had its target price upped by UBS Group from $49.00 to $52.00 in a research report released on Wednesday morning, Price Targets.com reports. The firm currently has a buy rating on the insurance provider’s stock.
A number of other equities research analysts have also recently commented on ACGL. Jefferies Financial Group began coverage on shares of Arch Capital Group in a research report on Thursday, November 18th. They issued a buy rating and a $50.00 target price for the company. Barclays raised their price objective on shares of Arch Capital Group from $50.00 to $51.00 and gave the stock an overweight rating in a research report on Thursday, January 6th. Royal Bank of Canada raised their price objective on shares of Arch Capital Group from $47.00 to $49.00 and gave the stock an outperform rating in a research report on Friday, October 29th. JMP Securities raised their price objective on shares of Arch Capital Group from $45.00 to $48.00 and gave the stock a market outperform rating in a research report on Thursday, October 28th. Finally, Morgan Stanley cut their price objective on shares of Arch Capital Group from $47.00 to $45.00 and set an equal weight rating for the company in a research report on Friday, October 15th. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of Buy and an average price target of $50.22.
NASDAQ:ACGL opened at $47.41 on Wednesday. The firm has a market capitalization of $18.31 billion, a P/E ratio of 9.56, a PEG ratio of 1.06 and a beta of 0.92. Arch Capital Group has a 1-year low of $31.23 and a 1-year high of $47.55. The company’s fifty day moving average price is $43.48 and its 200-day moving average price is $41.33. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.65 and a quick ratio of 0.65.
In other news, insider Louis T. Petrillo sold 12,567 shares of the firm’s stock in a transaction that occurred on Thursday, November 18th. The shares were sold at an average price of $42.00, for a total value of $527,814.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman John M. Pasquesi acquired 484,544 shares of the stock in a transaction dated Thursday, November 11th. The stock was acquired at an average cost of $41.23 per share, with a total value of $19,977,749.12. The disclosure for this purchase can be found here. In the last three months, insiders sold 61,535 shares of company stock valued at $2,610,291. Insiders own 3.90% of the company’s stock.
Institutional investors have recently modified their holdings of the stock. Dark Forest Capital Management LP purchased a new position in Arch Capital Group in the third quarter worth approximately $25,000. Spire Wealth Management purchased a new position in Arch Capital Group in the third quarter worth approximately $32,000. Whittier Trust Co. of Nevada Inc. lifted its position in shares of Arch Capital Group by 98.2% during the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 1,106 shares of the insurance provider’s stock worth $42,000 after buying an additional 548 shares during the last quarter. Farmers & Merchants Investments Inc. purchased a new stake in shares of Arch Capital Group during the 3rd quarter worth approximately $46,000. Finally, Cordasco Financial Network lifted its position in shares of Arch Capital Group by 25.4% during the 3rd quarter. Cordasco Financial Network now owns 1,234 shares of the insurance provider’s stock worth $47,000 after buying an additional 250 shares during the last quarter. Institutional investors own 88.24% of the company’s stock.
About Arch Capital Group
Arch Capital Group Ltd. provides property and casualty insurance and reinsurance lines. It operates through the following segments: Insurance, Reinsurance, Mortgage, Corporate (Non-Underwriting), and Other. The Insurance segment consists insurance underwriting units which offer specialty product lines like construction and national accounts, excess and surplus casualty, lenders products, professional lines, and programs.
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