Arch Capital Group (NASDAQ:ACGL) Price Target Raised to $110.00

Arch Capital Group (NASDAQ:ACGL) had its price objective boosted by JPMorgan Chase & Co. from $108.00 to $110.00 in a report published on Thursday morning, Benzinga reports. The brokerage currently has a neutral rating on the insurance provider’s stock.

A number of other research firms have also recently commented on ACGL. Keefe, Bruyette & Woods increased their price target on Arch Capital Group from $120.00 to $121.00 and gave the company an outperform rating in a research note on Wednesday, August 7th. Royal Bank of Canada lifted their target price on shares of Arch Capital Group from $108.00 to $112.00 and gave the stock an outperform rating in a research note on Thursday, August 1st. Bank of America upped their price target on shares of Arch Capital Group from $119.00 to $135.00 and gave the company a buy rating in a research note on Thursday. Evercore ISI boosted their price objective on shares of Arch Capital Group from $104.00 to $107.00 and gave the company an in-line rating in a report on Wednesday. Finally, Jefferies Financial Group upped their target price on Arch Capital Group from $114.00 to $134.00 and gave the company a buy rating in a research report on Wednesday. Five investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of Moderate Buy and an average target price of $118.87.

Arch Capital Group Stock Up 0.4 %

Shares of Arch Capital Group stock opened at $114.40 on Thursday. Arch Capital Group has a 52-week low of $72.85 and a 52-week high of $116.47. The firm’s 50 day moving average price is $108.91 and its 200-day moving average price is $101.31. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 0.16. The company has a market cap of $43.02 billion, a P/E ratio of 8.05, a PEG ratio of 2.03 and a beta of 0.59.

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

Insider Activity

In related news, CFO Francois Morin sold 11,460 shares of the stock in a transaction 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 directly owns 221,779 shares of the company’s stock, valued at approximately $22,723,476.34. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 4.20% of the company’s stock.

Hedge Funds Weigh In On Arch Capital Group

A number of large investors have recently bought and sold shares of ACGL. Creative Planning grew its holdings in Arch Capital Group by 4.7% in the third quarter. Creative Planning now owns 37,950 shares of the insurance provider’s stock valued at $4,246,000 after purchasing an additional 1,720 shares during the period. CX Institutional grew its stake in Arch Capital Group by 1,838.1% in the 3rd quarter. CX Institutional now owns 40,953 shares of the insurance provider’s stock valued at $4,582,000 after acquiring an additional 38,840 shares during the period. Empirical Asset Management LLC acquired a new stake in Arch Capital Group in the 3rd quarter valued at $904,000. Procyon Advisors LLC increased its holdings in Arch Capital Group by 8.0% in the 3rd quarter. Procyon Advisors LLC now owns 9,264 shares of the insurance provider’s stock worth $1,037,000 after acquiring an additional 687 shares in the last quarter. Finally, Compagnie Lombard Odier SCmA acquired a new position in Arch Capital Group during the third quarter worth $46,000. Institutional investors and hedge funds own 89.07% of the company’s stock.

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.