Arch Capital Group (NASDAQ:ACGL) Price Target Raised to $97.00

Arch Capital Group (NASDAQ:ACGL) had its price objective upped by equities researchers at Cantor Fitzgerald from $93.00 to $97.00 in a report issued on Wednesday, Marketbeat.com reports. The brokerage currently has a “neutral” rating on the insurance provider’s stock. Cantor Fitzgerald’s price objective would indicate a potential upside of 6.20% from the stock’s current price.

Other analysts have also recently issued research reports about the company. Evercore ISI set a $100.00 target price on Arch Capital Group and gave the stock an “in-line” rating in a report on Wednesday, January 7th. Keefe, Bruyette & Woods lifted their target price on shares of Arch Capital Group from $100.00 to $102.00 and gave the company a “market perform” rating in a report on Tuesday, January 6th. JPMorgan Chase & Co. upped their price target on shares of Arch Capital Group from $111.00 to $117.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 7th. Royal Bank Of Canada set a $108.00 price objective on Arch Capital Group and gave the company an “outperform” rating in a research report on Monday, November 24th. Finally, Mizuho set a $95.00 target price on Arch Capital Group and gave the stock a “neutral” rating in a research report on Monday, December 15th. Eight equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $106.53.

Arch Capital Group Trading Up 0.6%

ACGL stock opened at $91.33 on Wednesday. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 0.13. The company has a market cap of $33.12 billion, a price-to-earnings ratio of 8.53, a PEG ratio of 2.10 and a beta of 0.45. The business has a fifty day simple moving average of $93.46 and a 200-day simple moving average of $90.87. Arch Capital Group has a 52 week low of $82.44 and a 52 week high of $97.60.

Arch Capital Group (NASDAQ:ACGL) last issued its earnings results on Monday, October 27th. The insurance provider reported $2.77 earnings per share for the quarter, beating analysts’ consensus estimates of $1.76 by $1.01. Arch Capital Group had a return on equity of 16.38% and a net margin of 20.96%.The firm had revenue of $5.11 billion for the quarter, compared to analysts’ expectations of $4.39 billion. During the same quarter last year, the firm earned $1.99 earnings per share. On average, equities research analysts expect that Arch Capital Group will post 8.42 EPS for the current year.

Insider Transactions at Arch Capital Group

In other news, insider John M. Pasquesi sold 203,866 shares of the firm’s stock in a transaction that occurred on Friday, December 12th. The shares were sold at an average price of $93.90, for a total transaction of $19,143,017.40. Following the completion of the sale, the insider owned 351,356 shares of the company’s stock, valued at approximately $32,992,328.40. This trade represents a 36.72% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Francois Morin sold 8,000 shares of the company’s stock in a transaction on Friday, November 28th. The shares were sold at an average price of $94.62, for a total transaction of $756,960.00. Following the completion of the sale, the chief financial officer directly owned 266,681 shares in the company, valued at $25,233,356.22. This represents a 2.91% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 220,666 shares of company stock valued at $20,728,673. 4.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Arch Capital Group

Large investors have recently modified their holdings of the stock. Vanguard Group Inc. lifted its position 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 valued at $3,861,845,000 after purchasing an additional 493,583 shares during the last quarter. Artisan Partners Limited Partnership boosted its position in shares of Arch Capital Group by 1.7% during the second 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. WCM Investment Management LLC grew its holdings in Arch Capital Group by 1.3% in the 3rd quarter. WCM Investment Management LLC now owns 13,525,402 shares of the insurance provider’s stock worth $1,214,987,000 after buying an additional 171,693 shares in the last quarter. Geode Capital Management LLC grew 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 in the last quarter. Finally, JPMorgan Chase & Co. increased its position in Arch Capital Group by 4.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 8,190,927 shares of the insurance provider’s stock valued at $743,168,000 after acquiring an additional 360,626 shares during the period. Institutional investors own 89.07% of the company’s stock.

Arch Capital Group Company Profile

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.