Morgan Stanley Boosts Arch Capital Group (NASDAQ:ACGL) Price Target to $56.00

Arch Capital Group (NASDAQ:ACGLGet Rating) had its price target increased by Morgan Stanley from $52.00 to $56.00 in a research note published on Tuesday morning, Marketbeat Ratings reports. The firm currently has an equal weight rating on the insurance provider’s stock.

Other equities research analysts have also recently issued research reports about the stock. Royal Bank of Canada increased their target price on shares of Arch Capital Group from $57.00 to $60.00 and gave the stock an outperform rating in a research report on Friday, October 28th. Barclays increased their target price on shares of Arch Capital Group from $55.00 to $57.00 and gave the stock an overweight rating in a research report on Friday, October 28th. StockNews.com cut shares of Arch Capital Group from a buy rating to a hold rating in a research report on Friday, November 4th. Wells Fargo & Company increased their target price on shares of Arch Capital Group from $56.00 to $58.00 and gave the stock an overweight rating in a research report on Friday, October 28th. Finally, Jefferies Financial Group decreased their price objective on shares of Arch Capital Group from $57.00 to $56.00 and set a buy rating on the stock in a report on Friday, October 7th. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and a consensus target price of $56.75.

Arch Capital Group Trading Up 0.5 %

Shares of ACGL stock opened at $58.05 on Tuesday. Arch Capital Group has a 52-week low of $40.24 and a 52-week high of $59.14. The stock has a market cap of $21.47 billion, a price-to-earnings ratio of 18.61, a P/E/G ratio of 1.44 and a beta of 0.78. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.59 and a current ratio of 0.59. The firm has a fifty day moving average of $50.90 and a 200-day moving average of $47.30.

Arch Capital Group (NASDAQ:ACGLGet Rating) last announced its quarterly earnings data on Thursday, October 27th. The insurance provider reported $0.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.24 by $0.04. The company had revenue of $2.72 billion during the quarter, compared to analysts’ expectations of $2.45 billion. Arch Capital Group had a net margin of 13.89% and a return on equity of 13.16%. The business’s revenue was up 31.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.74 EPS. On average, equities research analysts forecast that Arch Capital Group will post 4.02 earnings per share for the current fiscal year.

Insider Activity

In other Arch Capital Group news, Director Brian S. Posner bought 2,000 shares of Arch Capital Group stock in a transaction dated Friday, October 28th. The shares were bought at an average price of $17.60 per share, with a total value of $35,200.00. Following the purchase, the director now owns 4,000 shares of the company’s stock, valued at $70,400. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, CEO Maamoun Rajeh sold 50,000 shares of the firm’s stock in a transaction dated Monday, October 31st. The shares were sold at an average price of $57.09, for a total value of $2,854,500.00. Following the transaction, the chief executive officer now owns 362,990 shares of the company’s stock, valued at approximately $20,723,099.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Brian S. Posner bought 2,000 shares of Arch Capital Group stock in a transaction dated Friday, October 28th. The stock was acquired at an average cost of $17.60 per share, for a total transaction of $35,200.00. Following the purchase, the director now directly owns 4,000 shares in the company, valued at approximately $70,400. The disclosure for this purchase can be found here. Insiders own 4.20% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Bank of America Corp DE raised its holdings in Arch Capital Group by 26.5% during the 1st quarter. Bank of America Corp DE now owns 2,446,743 shares of the insurance provider’s stock worth $118,470,000 after buying an additional 512,832 shares during the period. Diversified Trust Co acquired a new stake in Arch Capital Group during the 2nd quarter worth approximately $269,000. National Bank of Canada FI raised its holdings in Arch Capital Group by 5,587.8% during the 1st quarter. National Bank of Canada FI now owns 69,903 shares of the insurance provider’s stock worth $3,490,000 after buying an additional 68,674 shares during the period. Envestnet Asset Management Inc. raised its holdings in Arch Capital Group by 5.8% during the 1st quarter. Envestnet Asset Management Inc. now owns 643,146 shares of the insurance provider’s stock worth $31,141,000 after buying an additional 35,179 shares during the period. Finally, Banque Cantonale Vaudoise raised its holdings in Arch Capital Group by 169.0% during the 2nd quarter. Banque Cantonale Vaudoise now owns 18,306 shares of the insurance provider’s stock worth $833,000 after buying an additional 11,500 shares during the period. Institutional investors own 87.61% of the company’s stock.

About Arch Capital Group

(Get Rating)

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; collateral protection, debt cancellation, and service contract reimbursement products; 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.

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