Arch Capital Group (NASDAQ:ACGL) PT Raised to $109.00

Arch Capital Group (NASDAQ:ACGL) had its target price hoisted by analysts at Bank of America from $105.00 to $109.00 in a report issued on Tuesday, Benzinga reports. The firm currently has a “buy” rating on the insurance provider’s stock. Bank of America‘s price objective would indicate a potential upside of 13.78% from the stock’s previous close.

Other research analysts have also issued research reports about the company. UBS Group cut their price target on Arch Capital Group from $101.00 to $97.00 and set a “buy” rating on the stock in a report on Wednesday, January 10th. Morgan Stanley increased their price target on Arch Capital Group from $104.00 to $109.00 and gave the stock an “overweight” rating in a report on Monday, April 15th. Wells Fargo & Company raised their target price on Arch Capital Group from $104.00 to $109.00 and gave the company an “overweight” rating in a report on Thursday, April 11th. Deutsche Bank Aktiengesellschaft raised their target price on Arch Capital Group from $103.00 to $110.00 and gave the company a “buy” rating in a report on Tuesday. Finally, JMP Securities raised their target price on Arch Capital Group from $100.00 to $110.00 and gave the company a “market outperform” rating in a report on Tuesday. Four research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $100.67.

Arch Capital Group Stock Up 2.4 %

Shares of Arch Capital Group stock opened at $95.80 on Tuesday. Arch Capital Group has a one year low of $69.05 and a one year high of $96.58. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.57 and a quick ratio of 0.57. The stock’s 50-day moving average is $90.60 and its 200 day moving average is $84.56. The firm has a market cap of $35.94 billion, a price-to-earnings ratio of 8.24, a PEG ratio of 1.14 and a beta of 0.57.

Arch Capital Group (NASDAQ:ACGL) last announced its quarterly earnings results on Monday, April 29th. The insurance provider reported $2.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.06 by $0.39. The business had revenue of $4.09 billion for the quarter, compared to analyst estimates of $3.77 billion. Arch Capital Group had a return on equity of 23.02% and a net margin of 33.65%. The company’s quarterly revenue was up 19.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.73 earnings per share. Equities research analysts anticipate that Arch Capital Group will post 8.03 EPS for the current year.

Insider Activity at Arch Capital Group

In related news, CFO Francois Morin sold 25,689 shares of the stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $87.47, for a total transaction of $2,247,016.83. Following the completion of the sale, the chief financial officer now directly owns 221,779 shares of the company’s stock, valued at $19,399,009.13. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Arch Capital Group news, CFO Francois Morin sold 25,689 shares of the firm’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $87.47, for a total value of $2,247,016.83. Following the completion of the sale, the chief financial officer now directly owns 221,779 shares of the company’s stock, valued at $19,399,009.13. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Nicolas Papadopoulo sold 60,000 shares of the firm’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $87.52, for a total value of $5,251,200.00. Following the completion of the sale, the insider now directly owns 651,931 shares of the company’s stock, valued at $57,057,001.12. The disclosure for this sale can be found here. Over the last three months, insiders sold 135,689 shares of company stock valued at $11,872,217. 4.20% of the stock is owned by insiders.

Hedge Funds Weigh In On Arch Capital Group

A number of large investors have recently made changes to their positions in the stock. Resonant Capital Advisors LLC boosted its holdings in shares of Arch Capital Group by 2.1% in the first quarter. Resonant Capital Advisors LLC now owns 5,802 shares of the insurance provider’s stock worth $536,000 after acquiring an additional 118 shares during the period. Janney Montgomery Scott LLC boosted its stake in Arch Capital Group by 1.6% during the first quarter. Janney Montgomery Scott LLC now owns 90,592 shares of the insurance provider’s stock valued at $8,374,000 after buying an additional 1,444 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Arch Capital Group by 6.3% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 94,729 shares of the insurance provider’s stock worth $8,757,000 after purchasing an additional 5,607 shares in the last quarter. Smith Group Asset Management LLC boosted its holdings in shares of Arch Capital Group by 12.2% in the 1st quarter. Smith Group Asset Management LLC now owns 341,300 shares of the insurance provider’s stock worth $31,550,000 after purchasing an additional 37,180 shares in the last quarter. Finally, SeaBridge Investment Advisors LLC boosted its holdings in shares of Arch Capital Group by 7.6% in the 1st quarter. SeaBridge Investment Advisors LLC now owns 22,348 shares of the insurance provider’s stock worth $2,066,000 after purchasing an additional 1,574 shares in the last quarter. 89.07% of the stock is owned by institutional investors.

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.