Arch Capital Group (NASDAQ:ACGL) Given New $117.00 Price Target at JPMorgan Chase & Co.

Arch Capital Group (NASDAQ:ACGL) had its price target raised by stock analysts at JPMorgan Chase & Co. from $111.00 to $117.00 in a research report issued on Wednesday,Benzinga reports. The firm currently has a “neutral” rating on the insurance provider’s stock. JPMorgan Chase & Co.‘s price objective would suggest a potential upside of 24.11% from the company’s current price.

A number of other equities research analysts have also recently issued reports on ACGL. The Goldman Sachs Group set a $88.00 target price on Arch Capital Group and gave the company a “sell” rating in a research note on Tuesday, October 14th. Barclays set a $99.00 target price on shares of Arch Capital Group and gave the company an “equal weight” rating in a research report on Wednesday, October 8th. Roth Capital set a $110.00 target price on Arch Capital Group and gave the stock a “buy” rating in a research report on Tuesday, December 2nd. Wells Fargo & Company lowered their target price on Arch Capital Group from $111.00 to $106.00 and set an “overweight” rating on the stock in a report on Wednesday, October 29th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Arch Capital Group in a research report on Wednesday, October 8th. Eight analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $105.93.

Arch Capital Group Trading Up 0.4%

NASDAQ:ACGL traded up $0.35 on Wednesday, hitting $94.27. 228,026 shares of the stock were exchanged, compared to its average volume of 1,392,206. The stock has a market cap of $34.19 billion, a PE ratio of 8.79, a PEG ratio of 2.13 and a beta of 0.45. Arch Capital Group has a fifty-two week low of $82.44 and a fifty-two week high of $97.60. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 0.13. The stock has a fifty day moving average of $92.69 and a 200-day moving average of $90.74.

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

Insider Buying and Selling at Arch Capital Group

In related news, insider John M. Pasquesi sold 203,866 shares of the firm’s stock in a transaction on Friday, December 12th. The stock was 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 directly owned 351,356 shares of the company’s stock, valued at $32,992,328.40. This trade represents a 36.72% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Francois Morin sold 8,000 shares of the firm’s stock in a transaction on Friday, November 28th. The shares were sold at an average price of $94.62, for a total value of $756,960.00. Following the completion of the sale, the chief financial officer owned 266,681 shares of the company’s stock, valued at approximately $25,233,356.22. This trade represents a 2.91% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 220,666 shares of company stock valued at $20,728,673 over the last quarter. Corporate insiders own 4.10% of the company’s stock.

Institutional Trading of Arch Capital Group

A number of hedge funds and other institutional investors have recently modified their holdings of ACGL. WealthCollab LLC raised its position in shares of Arch Capital Group by 410.3% during the third quarter. WealthCollab LLC now owns 296 shares of the insurance provider’s stock worth $27,000 after acquiring an additional 238 shares during the last quarter. JPL Wealth Management LLC acquired a new stake in shares of Arch Capital Group during the 3rd quarter worth approximately $28,000. Cornerstone Planning Group LLC lifted its holdings in Arch Capital Group by 426.0% in the third quarter. Cornerstone Planning Group LLC now owns 384 shares of the insurance provider’s stock valued at $33,000 after buying an additional 311 shares during the period. Quent Capital LLC bought a new position in Arch Capital Group in the third quarter valued at approximately $37,000. Finally, Richardson Financial Services Inc. grew its holdings in Arch Capital Group by 63.3% during the 3rd quarter. Richardson Financial Services Inc. now owns 418 shares of the insurance provider’s stock worth $38,000 after acquiring an additional 162 shares during the period. Institutional investors and hedge funds own 89.07% of the company’s stock.

About Arch Capital Group

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.