Arch Capital Group (NASDAQ:ACGL) Price Target Raised to $111.00

Arch Capital Group (NASDAQ:ACGL) had its target price lifted by Wells Fargo & Company from $107.00 to $111.00 in a report issued on Wednesday morning,Benzinga reports. The brokerage currently has an overweight rating on the insurance provider’s stock.

A number of other equities analysts have also weighed in on the company. Weiss Ratings restated a “hold (c+)” rating on shares of Arch Capital Group in a research note on Saturday, September 27th. Barclays set a $99.00 target price on Arch Capital Group and gave the stock an “equal weight” rating in a research note on Wednesday. Cantor Fitzgerald upgraded Arch Capital Group to a “hold” rating in a research note on Wednesday, August 13th. Citigroup started coverage on Arch Capital Group in a research note on Wednesday, August 13th. They issued a “buy” rating and a $113.00 target price on the stock. Finally, Jefferies Financial Group lowered Arch Capital Group from a “buy” rating to a “hold” rating and decreased their target price for the stock from $106.00 to $100.00 in a research note on Tuesday, June 10th. Eight investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $110.31.

Arch Capital Group Stock Performance

NASDAQ:ACGL opened at $92.47 on Wednesday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.56 and a current ratio of 0.56. Arch Capital Group has a 52-week low of $82.49 and a 52-week high of $115.06. The firm has a market cap of $34.51 billion, a price-to-earnings ratio of 9.54, a PEG ratio of 5.50 and a beta of 0.47. The business’s fifty day moving average is $90.63 and its 200 day moving average is $91.11.

Arch Capital Group (NASDAQ:ACGL) last released its quarterly earnings data on Tuesday, July 29th. The insurance provider reported $2.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.30 by $0.28. Arch Capital Group had a return on equity of 15.33% and a net margin of 19.49%.The company had revenue of $4.35 billion for the quarter, compared to analyst estimates of $4.29 billion. During the same period in the previous year, the company posted $2.57 EPS. Research analysts predict that Arch Capital Group will post 8.42 EPS for the current year.

Insiders Place Their Bets

In related news, insider Maamoun Rajeh sold 10,000 shares of the stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $94.15, for a total transaction of $941,500.00. Following the completion of the sale, the insider directly owned 433,589 shares in the company, valued at $40,822,404.35. This represents a 2.25% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 4.20% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Arch Capital Group

Several institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. lifted its holdings in Arch Capital Group by 1.2% in the 2nd quarter. Vanguard Group Inc. now owns 42,414,557 shares of the insurance provider’s stock worth $3,861,845,000 after buying an additional 493,583 shares during the period. Artisan Partners Limited Partnership lifted its holdings in Arch Capital Group by 1.7% in the 2nd quarter. Artisan Partners Limited Partnership now owns 23,833,290 shares of the insurance provider’s stock worth $2,170,021,000 after buying an additional 408,950 shares during the period. Geode Capital Management LLC lifted its holdings in Arch Capital Group by 1.1% in the 2nd quarter. Geode Capital Management LLC now owns 10,502,003 shares of the insurance provider’s stock worth $952,523,000 after buying an additional 115,465 shares during the period. JPMorgan Chase & Co. lifted its holdings in Arch Capital Group by 4.8% in the 2nd quarter. JPMorgan Chase & Co. now owns 7,830,301 shares of the insurance provider’s stock worth $712,956,000 after buying an additional 359,710 shares during the period. Finally, Northern Trust Corp lifted its holdings in Arch Capital Group by 3.0% in the 1st quarter. Northern Trust Corp now owns 5,005,790 shares of the insurance provider’s stock worth $481,457,000 after buying an additional 144,986 shares during the period. Hedge funds and other institutional investors 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.