Arch Capital Group (NASDAQ:ACGL) Reaches New 52-Week High on Analyst Upgrade

Shares of Arch Capital Group Ltd. (NASDAQ:ACGL) reached a new 52-week high during trading on Tuesday after Morgan Stanley raised their price target on the stock from $105.00 to $110.00. Morgan Stanley currently has an overweight rating on the stock. Arch Capital Group traded as high as $104.28 and last traded at $103.7920, with a volume of 54812 shares changing hands. The stock had previously closed at $101.81.

Several other equities research analysts have also issued reports on the stock. Barclays increased their target price on shares of Arch Capital Group from $104.00 to $106.00 and gave the stock an “equal weight” rating in a research note on Wednesday, April 8th. Citigroup upped their price target on Arch Capital Group from $120.00 to $122.50 and gave the stock a “buy” rating in a report on Thursday, April 30th. Wells Fargo & Company increased their price target on Arch Capital Group from $109.00 to $110.00 and gave the stock an “overweight” rating in a research report on Thursday, April 30th. Weiss Ratings lowered Arch Capital Group from a “buy (b)” rating to a “buy (b-)” rating in a report on Monday, May 18th. Finally, Mizuho cut their price objective on Arch Capital Group from $102.00 to $101.00 and set a “neutral” rating for the company in a research report on Tuesday, May 5th. Eight investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $107.19.

Insider Buying and Selling

In other news, Director Daniel Joseph Houston purchased 5,300 shares of the company’s stock in a transaction that occurred on Thursday, April 30th. The stock was purchased at an average cost of $94.08 per share, for a total transaction of $498,624.00. Following the completion of the transaction, the director owned 9,915 shares of the company’s stock, valued at $932,803.20. This trade represents a 114.84% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Brian S. Posner sold 3,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $19.66, for a total value of $58,980.00. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 3.30% of the company’s stock.

Institutional Investors Weigh In On Arch Capital Group

Hedge funds have recently modified their holdings of the business. Norges Bank acquired a new position in Arch Capital Group during the fourth quarter worth about $463,208,000. First Trust Advisors LP raised its holdings in Arch Capital Group by 319.5% in the 1st quarter. First Trust Advisors LP now owns 2,626,148 shares of the insurance provider’s stock valued at $252,084,000 after acquiring an additional 2,000,162 shares during the last quarter. AQR Capital Management LLC raised its holdings in Arch Capital Group by 184.1% in the 4th quarter. AQR Capital Management LLC now owns 2,670,628 shares of the insurance provider’s stock valued at $256,167,000 after acquiring an additional 1,730,487 shares during the last quarter. Fiduciary Management Inc. WI purchased a new position in Arch Capital Group in the 4th quarter worth approximately $106,683,000. Finally, Arrowstreet Capital Limited Partnership lifted its stake in Arch Capital Group by 572.8% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,268,601 shares of the insurance provider’s stock worth $121,684,000 after purchasing an additional 1,080,049 shares in the last quarter. 89.07% of the stock is currently owned by institutional investors and hedge funds.

Arch Capital Group Stock Performance

The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 0.15. The stock has a 50-day moving average of $93.93 and a 200 day moving average of $95.32. The stock has a market cap of $36.46 billion, a PE ratio of 8.02, a P/E/G ratio of 5.11 and a beta of 0.31.

Arch Capital Group (NASDAQ:ACGL) last announced its quarterly earnings data on Tuesday, March 31st. The insurance provider reported $2.50 earnings per share (EPS) for the quarter. Arch Capital Group had a net margin of 24.64% and a return on equity of 17.61%. The firm had revenue of $4.52 billion during the quarter. Equities analysts predict that Arch Capital Group Ltd. will post 9.3 EPS for the current fiscal year.

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.