Arch Capital Group (NASDAQ:ACGL) Price Target Raised to $117.00

by · The Cerbat Gem

Arch Capital Group (NASDAQ:ACGL – Free Report) had its price target boosted by Wells Fargo & Company from $114.00 to $117.00 in a report released on Thursday,Benzinga reports. The firm currently has an overweight rating on the insurance provider’s stock.

A number of other analysts also recently issued reports on the stock. Atlantic Securities set a $126.00 price objective on shares of Arch Capital Group in a report on Wednesday, July 15th. Barclays increased their target price on Arch Capital Group from $104.00 to $106.00 and gave the company an “equal weight” rating in a research note on Wednesday, April 8th. Cantor Fitzgerald restated a “neutral” rating and set a $102.00 price target (up from $100.00) on shares of Arch Capital Group in a research report on Thursday, July 9th. Keefe, Bruyette & Woods lowered their price target on Arch Capital Group from $102.00 to $99.00 and set a “market perform” rating on the stock in a research report on Wednesday, July 8th. Finally, Weiss Ratings lowered Arch Capital Group from a “buy (b)” rating to a “buy (b-)” rating in a research note on Monday, May 18th. Eight investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $110.39.

View Our Latest Stock Analysis on ACGL

Arch Capital Group Trading Down 0.6%

Shares of ACGL opened at $100.53 on Thursday. Arch Capital Group has a 1-year low of $82.44 and a 1-year high of $107.08. The company has a market capitalization of $35.12 billion, a P/E ratio of 7.86, a P/E/G ratio of 10.64 and a beta of 0.31. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.57 and a quick ratio of 0.55. The firm’s 50 day simple moving average is $96.51 and its 200 day simple moving average is $96.10.

Arch Capital Group (NASDAQ:ACGL – Get Free Report) last released its quarterly earnings results on Tuesday, July 28th. The insurance provider reported $2.56 EPS for the quarter, topping analysts’ consensus estimates of $2.47 by $0.09. The business had revenue of $8.72 billion during the quarter, compared to analysts’ expectations of $4.36 billion. Arch Capital Group had a net margin of 24.40% and a return on equity of 17.06%. During the same quarter in the previous year, the company earned $2.58 EPS. Sell-side analysts forecast that Arch Capital Group will post 9.36 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Brian S. Posner sold 3,000 shares of the company’s stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $19.66, for a total value of $58,980.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 3.30% of the company’s stock.

Institutional Trading of Arch Capital Group

Several hedge funds have recently added to or reduced their stakes in ACGL. Elyxium Wealth LLC bought a new position in shares of Arch Capital Group during the fourth quarter valued at about $27,000. WealthCollab LLC lifted its stake in shares of Arch Capital Group by 410.3% in the 3rd quarter. WealthCollab LLC now owns 296 shares of the insurance provider’s stock valued at $27,000 after acquiring an additional 238 shares during the last quarter. Torren Management LLC lifted its stake in shares of Arch Capital Group by 66.9% in the 2nd quarter. Torren Management LLC now owns 292 shares of the insurance provider’s stock valued at $28,000 after acquiring an additional 117 shares during the last quarter. JPL Wealth Management LLC purchased a new stake in Arch Capital Group during the 3rd quarter valued at about $28,000. Finally, TD Waterhouse Canada Inc. boosted its holdings in Arch Capital Group by 72.7% during the 4th quarter. TD Waterhouse Canada Inc. now owns 323 shares of the insurance provider’s stock valued at $31,000 after acquiring an additional 136 shares during the period. 89.07% of the stock is owned by institutional investors.

Arch Capital Group Company Profile

(Get Free Report)

Arch Capital Group Ltd. (NASDAQ: ACGL) is a Bermuda-based insurance and reinsurance holding company that underwrites a broad range of property and casualty, mortgage, and specialty risk products. The company operates through a group of underwriting subsidiaries and platforms to provide insurance, reinsurance and related risk solutions tailored to commercial, institutional and individual clients.

Arch’s product mix includes treaty and facultative reinsurance, primary casualty and property insurance, mortgage insurance and other specialty lines.

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