Arch Capital Group (NASDAQ:ACGL) Given New $134.00 Price Target at Jefferies Financial Group

Arch Capital Group (NASDAQ:ACGL) had its price target hoisted by Jefferies Financial Group from $114.00 to $134.00 in a research note published on Wednesday, Benzinga reports. Jefferies Financial Group currently has a buy rating on the insurance provider’s stock.

Several other research analysts have also recently issued reports on ACGL. JMP Securities raised their target price on Arch Capital Group from $110.00 to $115.00 and gave the stock a market outperform rating in a research report on Wednesday, July 31st. Barclays began coverage on Arch Capital Group in a research note on Wednesday, September 4th. They issued an equal weight rating and a $120.00 target price on the stock. Keefe, Bruyette & Woods upped their price objective on shares of Arch Capital Group from $120.00 to $121.00 and gave the company an outperform rating in a report on Wednesday, August 7th. Evercore ISI lifted their target price on shares of Arch Capital Group from $104.00 to $107.00 and gave the stock an in-line rating in a research note on Wednesday. Finally, Wells Fargo & Company cut their price target on shares of Arch Capital Group from $111.00 to $110.00 and set an overweight rating on the stock in a research note on Monday, August 12th. Five equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and an average price target of $116.53.

Arch Capital Group Stock Performance

Shares of NASDAQ ACGL opened at $113.09 on Wednesday. The firm’s 50-day moving average price is $108.26 and its 200-day moving average price is $100.98. Arch Capital Group has a 52-week low of $72.85 and a 52-week high of $116.47. The company has a market cap of $42.46 billion, a PE ratio of 8.93, a PEG ratio of 2.06 and a beta of 0.59. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 0.16.

Arch Capital Group (NASDAQ:ACGL) last posted its earnings results on Tuesday, July 30th. The insurance provider reported $2.57 EPS for the quarter, topping analysts’ consensus estimates of $2.21 by $0.36. The business had revenue of $3.78 billion during the quarter, compared to the consensus estimate of $3.89 billion. Arch Capital Group had a net margin of 35.19% and a return on equity of 21.42%. The firm’s revenue was up 10.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.92 EPS. As a group, analysts anticipate that Arch Capital Group will post 9.01 EPS for the current year.

Insider Activity at Arch Capital Group

In other news, CFO Francois Morin sold 11,460 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $102.46, for a total transaction of $1,174,191.60. Following the sale, the chief financial officer now owns 221,779 shares of the company’s stock, valued at $22,723,476.34. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 4.20% of the stock is owned by company insiders.

Institutional Trading of Arch Capital Group

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in shares of 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 acquiring an additional 104,008 shares in the last quarter. Principal Financial Group Inc. boosted its position in Arch Capital Group by 4.4% during the second quarter. Principal Financial Group Inc. now owns 7,100,952 shares of the insurance provider’s stock worth $716,415,000 after purchasing an additional 300,716 shares in the last quarter. Allspring Global Investments Holdings LLC increased its position in shares of Arch Capital Group by 1.7% in the first quarter. Allspring Global Investments Holdings LLC now owns 5,907,122 shares of the insurance provider’s stock valued at $546,054,000 after buying an additional 99,329 shares in the last quarter. Capital International Investors raised its stake in shares of Arch Capital Group by 61.1% during the 1st quarter. Capital International Investors now owns 4,112,577 shares of the insurance provider’s stock worth $380,167,000 after buying an additional 1,560,173 shares during the period. Finally, Dimensional Fund Advisors LP raised its stake in shares of Arch Capital Group by 6.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,925,288 shares of the insurance provider’s stock worth $396,026,000 after buying an additional 244,285 shares during the period. Institutional investors and hedge funds own 89.07% of the company’s stock.

About Arch Capital Group

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.