Bank of America Increases Arch Capital Group (NASDAQ:ACGL) Price Target to $135.00

Arch Capital Group (NASDAQ:ACGL) had its price objective increased by investment analysts at Bank of America from $119.00 to $135.00 in a research report issued on Thursday, Benzinga reports. The firm currently has a “buy” rating on the insurance provider’s stock. Bank of America‘s target price points to a potential upside of 18.01% from the stock’s current price.

A number of other research firms have also issued reports on ACGL. Keefe, Bruyette & Woods upped their price target on Arch Capital Group from $120.00 to $121.00 and gave the company an “outperform” rating in a research report on Wednesday, August 7th. Evercore ISI upped their price target on Arch Capital Group from $104.00 to $107.00 and gave the company an “in-line” rating in a research report on Wednesday. StockNews.com lowered Arch Capital Group from a “buy” rating to a “hold” rating in a research report on Wednesday, July 31st. Roth Mkm upped their price target on Arch Capital Group from $110.00 to $125.00 and gave the company a “buy” rating in a research report on Friday, August 23rd. Finally, TD Cowen upped their price objective on Arch Capital Group from $116.00 to $138.00 and gave the company a “buy” rating in a report on Friday, September 20th. Five analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $118.87.

Arch Capital Group Price Performance

NASDAQ:ACGL opened at $114.40 on Thursday. Arch Capital Group has a 12 month low of $72.85 and a 12 month high of $116.47. The stock has a 50 day moving average of $108.91 and a two-hundred day moving average of $101.24. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 0.16. The firm has a market cap of $43.02 billion, a P/E ratio of 8.05, a price-to-earnings-growth ratio of 2.03 and a beta of 0.59.

Arch Capital Group (NASDAQ:ACGL) last posted its quarterly earnings results on Tuesday, July 30th. The insurance provider reported $2.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.21 by $0.36. The business had revenue of $3.78 billion during the quarter, compared to analyst estimates of $3.89 billion. Arch Capital Group had a return on equity of 21.42% and a net margin of 35.19%. The business’s revenue was up 10.3% compared to the same quarter last year. During the same period in the prior year, the business earned $1.92 earnings per share. On average, analysts expect that Arch Capital Group will post 9.11 earnings per share for the current fiscal year.

Insiders Place Their Bets

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

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in ACGL. Gladstone Capital Management LLP lifted its stake in Arch Capital Group by 52.8% during the fourth quarter. Gladstone Capital Management LLP now owns 1,385,307 shares of the insurance provider’s stock worth $102,887,000 after purchasing an additional 478,570 shares in the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its stake in shares of 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 acquiring an additional 1,216,080 shares in the last quarter. Quarry LP acquired a new stake in shares of Arch Capital Group in the fourth quarter valued at $60,000. V Square Quantitative Management LLC raised its stake in shares of Arch Capital Group by 32.1% in the fourth quarter. V Square Quantitative Management LLC now owns 6,750 shares of the insurance provider’s stock valued at $501,000 after acquiring an additional 1,639 shares in the last quarter. Finally, Auxier Asset Management acquired a new stake in shares of Arch Capital Group in the fourth quarter valued at $305,000. 89.07% of the stock is currently owned by institutional investors and hedge funds.

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.