Arch Capital Group (NASDAQ:ACGL) Raised to Buy at StockNews.com

StockNews.com upgraded shares of Arch Capital Group (NASDAQ:ACGL) from a hold rating to a buy rating in a research report report published on Thursday morning.

ACGL has been the subject of a number of other research reports. Evercore ISI boosted their target price on shares of Arch Capital Group from $98.00 to $100.00 and gave the stock an in-line rating in a research report on Tuesday, April 30th. Morgan Stanley upped their price objective on shares of Arch Capital Group from $104.00 to $109.00 and gave the company an overweight rating in a research report on Monday, April 15th. Bank of America upped their price objective on shares of Arch Capital Group from $109.00 to $119.00 and gave the company a buy rating in a research report on Tuesday, June 4th. JPMorgan Chase & Co. upped their price objective on shares of Arch Capital Group from $88.00 to $92.00 and gave the company a neutral rating in a research report on Monday, April 8th. Finally, Wells Fargo & Company upped their price objective on shares of Arch Capital Group from $109.00 to $110.00 and gave the company an overweight rating in a research report on Wednesday, May 1st. Four equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, Arch Capital Group currently has an average rating of Moderate Buy and an average target price of $102.00.

Arch Capital Group Stock Down 2.3 %

Arch Capital Group stock opened at $97.65 on Thursday. The firm has a market cap of $36.67 billion, a price-to-earnings ratio of 7.71, a P/E/G ratio of 1.67 and a beta of 0.58. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.59 and a quick ratio of 0.59. Arch Capital Group has a fifty-two week low of $72.33 and a fifty-two week high of $103.79. The firm has a fifty day moving average price of $99.51 and a two-hundred day moving average price of $89.96.

Arch Capital Group (NASDAQ:ACGL) last released its earnings results on Monday, April 29th. The insurance provider reported $2.45 earnings per share for the quarter, topping analysts’ consensus estimates of $2.06 by $0.39. The firm had revenue of $4.09 billion during the quarter, compared to analyst estimates of $3.77 billion. Arch Capital Group had a net margin of 33.65% and a return on equity of 21.85%. The business’s revenue was up 19.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.73 EPS. As a group, analysts forecast that Arch Capital Group will post 8.55 earnings per share for the current year.

Insiders Place Their Bets

In other Arch Capital Group news, CEO David Gansberg sold 10,000 shares of the company’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $96.64, for a total transaction of $966,400.00. Following the sale, the chief executive officer now directly owns 228,035 shares of the company’s stock, valued at $22,037,302.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 4.00% of the company’s stock.

Institutional Trading of Arch Capital Group

Several large investors have recently added to or reduced their stakes in ACGL. Davis Asset Management L.P. grew its stake in Arch Capital Group by 441.7% during the fourth quarter. Davis Asset Management L.P. now owns 6,500,000 shares of the insurance provider’s stock worth $482,755,000 after buying an additional 5,300,000 shares during the last quarter. Norges Bank bought a new stake in shares of Arch Capital Group during the fourth quarter valued at approximately $309,496,000. Capital International Investors grew its stake in shares of Arch Capital Group by 61.1% during the first quarter. Capital International Investors now owns 4,112,577 shares of the insurance provider’s stock valued at $380,167,000 after purchasing an additional 1,560,173 shares during the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its holdings in Arch Capital Group by 61.6% in the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 3,191,282 shares of the insurance provider’s stock valued at $237,017,000 after buying an additional 1,216,080 shares during the period. Finally, Principal Financial Group Inc. lifted its holdings in Arch Capital Group by 11.4% in the first quarter. Principal Financial Group Inc. now owns 6,800,236 shares of the insurance provider’s stock valued at $628,614,000 after buying an additional 693,608 shares during the period. 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.