Arch Capital Group (NASDAQ:ACGL) Given New $106.00 Price Target at Jefferies Financial Group

Arch Capital Group (NASDAQ:ACGL) had its price target raised by Jefferies Financial Group from $102.00 to $106.00 in a report published on Thursday morning. Jefferies Financial Group currently has a hold rating on the insurance provider’s stock.

Several other equities analysts have also recently commented on ACGL. UBS Group reiterated a “buy” rating and set a $120.00 target price (up from $114.00) on shares of Arch Capital Group in a research note on Wednesday, July 8th. JPMorgan Chase & Co. dropped their price objective on shares of Arch Capital Group from $118.00 to $113.00 and set a “neutral” rating for the company in a research note on Friday, October 9th. Royal Bank Of Canada reissued an “outperform” rating and issued a $120.00 price target (up from $115.00) on shares of Arch Capital Group in a research report on Thursday, July 30th. Morgan Stanley set a $103.00 price objective on Arch Capital Group and gave the company an “equal weight” rating in a research note on Thursday. Finally, Atlantic Securities set a $126.00 target price on Arch Capital Group in a research report on Wednesday, July 15th. Seven analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Arch Capital Group currently has an average rating of “Hold” and an average price target of $109.94.

Arch Capital Group Stock Performance

ACGL stock traded up $2.42 during mid-day trading on Thursday, reaching $106.36. 2,479,819 shares of the stock traded hands, compared to its average volume of 2,354,857. The company has a quick ratio of 0.57, a current ratio of 0.56 and a debt-to-equity ratio of 0.21. Arch Capital Group has a 52 week low of $84.69 and a 52 week high of $107.08. The business has a 50-day moving average of $97.80 and a two-hundred day moving average of $96.70. The firm has a market capitalization of $36.29 billion, a PE ratio of 8.70, a P/E/G ratio of 3.03 and a beta of 0.28.

Arch Capital Group (NASDAQ:ACGL) last posted its quarterly earnings data on Tuesday, October 27th. The insurance provider reported $2.67 earnings per share for the quarter, topping the consensus estimate of $2.31 by $0.36. The business had revenue of $4.66 billion during the quarter, compared to analysts’ expectations of $4.06 billion. Arch Capital Group had a return on equity of 16.62% and a net margin of 23.31%. During the same quarter in the previous year, the firm earned $2.77 EPS. As a group, equities analysts predict that Arch Capital Group will post 9.86 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Francois Morin sold 11,010 shares of the business’s stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $99.32, for a total transaction of $1,093,513.20. Following the completion of the transaction, the chief financial officer directly owned 184,826 shares in the company, valued at approximately $18,356,918.32. The trade was a 5.62% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 3.30% of the company’s stock.

Hedge Funds Weigh In On Arch Capital Group

Several institutional investors and hedge funds have recently made changes to their positions in the company. Provenance Wealth Advisors LLC bought a new position in shares of Arch Capital Group in the third quarter valued at about $55,000. ARGA Investment Management LP acquired a new stake in Arch Capital Group during the 3rd quarter worth approximately $26,656,000. Mirae Asset Global Investments Co. Ltd. acquired a new position in Arch Capital Group in the 3rd quarter valued at $9,569,000. Profund Advisors LLC lifted its holdings in shares of Arch Capital Group by 8.5% during the third quarter. Profund Advisors LLC now owns 3,163 shares of the insurance provider’s stock worth $292,000 after buying an additional 247 shares in the last quarter. Finally, Vise Technologies Inc. grew its stake in shares of Arch Capital Group by 8.1% in the third quarter. Vise Technologies Inc. now owns 25,727 shares of the insurance provider’s stock valued at $2,376,000 after acquiring an additional 1,936 shares in the last quarter. Institutional investors and hedge funds own 89.07% of the company’s stock.

Arch Capital Group Company Profile

Arch Capital Group Ltd. is a Bermuda-based insurance, reinsurance and mortgage insurance company whose shares trade on the Nasdaq under the symbol ACGL. The company was established in 1995 and has developed into a global provider of specialty risk-management products and services.

Through its insurance operations, Arch offers property, casualty, specialty, and accident and health coverage to businesses and other policyholders. Its reinsurance operations provide coverage and risk-transfer solutions to insurance companies across a range of property and casualty lines.