Arch Capital Group (NASDAQ:ACGL) PT Raised to $110.00

Arch Capital Group (NASDAQ:ACGL) had its price objective hoisted by Wells Fargo & Company from $109.00 to $110.00 in a research note released on Wednesday morning, Benzinga reports. Wells Fargo & Company currently has an overweight rating on the insurance provider’s stock.

Other research analysts also recently issued research reports about the stock. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Arch Capital Group from $103.00 to $110.00 and gave the stock a buy rating in a report on Tuesday, April 30th. Morgan Stanley raised their price target on shares of Arch Capital Group from $104.00 to $109.00 and gave the company an overweight rating in a research report on Monday, April 15th. Royal Bank of Canada reiterated an outperform rating and issued a $98.00 target price on shares of Arch Capital Group in a research note on Friday, February 16th. Bank of America boosted their price target on shares of Arch Capital Group from $105.00 to $109.00 and gave the stock a buy rating in a report on Tuesday, April 30th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Arch Capital Group from $88.00 to $92.00 and gave the company a neutral rating in a research note on Monday, April 8th. Four investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, Arch Capital Group has an average rating of Moderate Buy and a consensus target price of $100.67.

Arch Capital Group Price Performance

ACGL stock opened at $94.41 on Wednesday. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.59 and a quick ratio of 0.57. The company’s 50-day moving average is $91.15 and its 200-day moving average is $84.77. The stock has a market capitalization of $35.42 billion, a PE ratio of 7.45, a price-to-earnings-growth ratio of 1.12 and a beta of 0.57. Arch Capital Group has a 1 year low of $69.05 and a 1 year high of $96.58.

Arch Capital Group (NASDAQ:ACGL) last announced its quarterly earnings results on Monday, April 29th. The insurance provider reported $2.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.06 by $0.39. The business had revenue of $4.09 billion for the quarter, compared to analyst estimates of $3.77 billion. Arch Capital Group had a return on equity of 21.85% and a net margin of 33.65%. The company’s quarterly revenue was up 19.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.73 earnings per share. Equities research analysts expect that Arch Capital Group will post 8.43 EPS for the current fiscal year.

Insider Buying and Selling at Arch Capital Group

In related news, CEO Maamoun Rajeh sold 50,000 shares of the stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $87.48, for a total value of $4,374,000.00. Following the sale, the chief executive officer now owns 336,170 shares in the company, valued at $29,408,151.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, CEO Maamoun Rajeh sold 50,000 shares of the business’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $87.48, for a total transaction of $4,374,000.00. Following the completion of the transaction, the chief executive officer now owns 336,170 shares of the company’s stock, valued at $29,408,151.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Francois Morin sold 25,689 shares of the firm’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $87.47, for a total transaction of $2,247,016.83. Following the completion of the sale, the chief financial officer now directly owns 221,779 shares in the company, valued at $19,399,009.13. The disclosure for this sale can be found here. Insiders sold a total of 135,689 shares of company stock valued at $11,872,217 in the last three months. Company insiders own 4.20% of the company’s stock.

Institutional Investors Weigh In On Arch Capital Group

A number of large investors have recently added to or reduced their stakes in ACGL. Davis Asset Management L.P. raised its holdings in shares of Arch Capital Group by 441.7% during the 4th quarter. Davis Asset Management L.P. now owns 6,500,000 shares of the insurance provider’s stock valued at $482,755,000 after buying an additional 5,300,000 shares in the last quarter. Norges Bank bought a new stake in shares of Arch Capital Group in the 4th quarter valued at about $309,496,000. Envestnet Asset Management Inc. lifted its stake in shares of Arch Capital Group by 112.4% in the 3rd quarter. Envestnet Asset Management Inc. now owns 2,620,807 shares of the insurance provider’s stock valued at $208,905,000 after acquiring an additional 1,387,072 shares during the last quarter. Hsbc Holdings PLC grew its position in Arch Capital Group by 597.9% during the 3rd quarter. Hsbc Holdings PLC now owns 1,419,944 shares of the insurance provider’s stock worth $113,516,000 after acquiring an additional 1,216,498 shares during the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its stake in Arch Capital Group by 61.6% in the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 3,191,282 shares of the insurance provider’s stock worth $237,017,000 after purchasing an additional 1,216,080 shares during the period. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Arch Capital Group Company Profile

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.