JPMorgan Chase & Co. Increases Arch Capital Group (NASDAQ:ACGL) Price Target to $106.00

Arch Capital Group (NASDAQ:ACGL) had its price objective lifted by JPMorgan Chase & Co. from $96.00 to $106.00 in a report issued on Thursday, Benzinga reports. The firm presently has a “neutral” rating on the insurance provider’s stock. JPMorgan Chase & Co.‘s price objective points to a potential upside of 9.84% from the company’s current price.

Several other equities analysts have also recently weighed in on the company. StockNews.com raised Arch Capital Group from a “hold” rating to a “buy” rating in a report on Thursday, July 4th. JMP Securities upped their price objective on shares of Arch Capital Group from $100.00 to $110.00 and gave the stock a “market outperform” rating in a research report on Tuesday, April 30th. Evercore ISI raised their target price on shares of Arch Capital Group from $98.00 to $100.00 and gave the company an “in-line” rating in a report on Tuesday, April 30th. Bank of America upped their price target on shares of Arch Capital Group from $109.00 to $119.00 and gave the stock a “buy” rating in a report on Tuesday, June 4th. Finally, Wells Fargo & Company boosted 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 research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $102.87.

Arch Capital Group Trading Down 0.5 %

ACGL stock opened at $96.50 on Thursday. Arch Capital Group has a 52 week low of $72.85 and a 52 week high of $103.79. The company has a market capitalization of $36.23 billion, a PE ratio of 7.62, a price-to-earnings-growth ratio of 1.67 and a beta of 0.58. The company’s 50-day simple moving average is $100.00 and its 200 day simple moving average is $90.94. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.59 and a current ratio of 0.59.

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

Insider Transactions at Arch Capital Group

In related news, CEO David Gansberg sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $96.64, for a total value of $966,400.00. Following the completion of the transaction, the chief executive officer now owns 228,035 shares in the company, valued at approximately $22,037,302.40. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 4.20% of the company’s stock.

Institutional Trading of Arch Capital Group

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its holdings in Arch Capital Group by 0.3% during the 1st quarter. Vanguard Group Inc. now owns 40,858,890 shares of the insurance provider’s stock worth $3,776,996,000 after buying an additional 104,008 shares during the period. Capital World Investors lifted its stake in shares of Arch Capital Group by 0.6% in the fourth quarter. Capital World Investors now owns 10,611,092 shares of the insurance provider’s stock worth $788,086,000 after acquiring an additional 58,862 shares during the period. Principal Financial Group Inc. boosted 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 acquiring an additional 693,608 shares during the last quarter. Davis Asset Management L.P. increased its position in Arch Capital Group by 441.7% during the 4th quarter. Davis Asset Management L.P. now owns 6,500,000 shares of the insurance provider’s stock valued at $482,755,000 after purchasing an additional 5,300,000 shares during the period. Finally, Allspring Global Investments Holdings LLC raised its holdings in Arch Capital Group by 1.7% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 5,907,122 shares of the insurance provider’s stock worth $546,054,000 after purchasing an additional 99,329 shares during the last quarter. 89.07% of the stock is currently owned by institutional investors and hedge funds.

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.