Arch Capital Group (NASDAQ:ACGL) Price Target Raised to $109.00

Arch Capital Group (NASDAQ:ACGL) had its target price lifted by Morgan Stanley from $104.00 to $109.00 in a research note released on Monday morning, Benzinga reports. The firm currently has an overweight rating on the insurance provider’s stock.

ACGL has been the subject of several other research reports. JMP Securities reissued a market outperform rating and set a $100.00 price objective on shares of Arch Capital Group in a report on Monday. JPMorgan Chase & Co. boosted their price objective on Arch Capital Group from $88.00 to $92.00 and gave the stock a neutral rating in a report on Monday, April 8th. StockNews.com lowered Arch Capital Group from a buy rating to a hold rating in a report on Monday, March 11th. Wells Fargo & Company boosted their price objective on Arch Capital Group from $104.00 to $109.00 and gave the stock an overweight rating in a report on Thursday, April 11th. Finally, TD Cowen assumed coverage on Arch Capital Group in a report on Wednesday, January 10th. They set an outperform rating and a $96.00 price objective for the company. Five investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Arch Capital Group has a consensus rating of Moderate Buy and a consensus price target of $96.23.

Arch Capital Group Trading Up 0.8 %

Shares of ACGL opened at $91.39 on Monday. The business’s 50-day moving average price is $89.36 and its 200-day moving average price is $83.89. Arch Capital Group has a twelve month low of $69.05 and a twelve month high of $95.01. The stock has a market cap of $34.28 billion, a PE ratio of 7.86, a P/E/G ratio of 1.13 and a beta of 0.57. The company has a quick ratio of 0.57, a current ratio of 0.57 and a debt-to-equity ratio of 0.17.

Arch Capital Group (NASDAQ:ACGL) last announced its quarterly earnings results on Thursday, February 15th. The insurance provider reported $2.49 earnings per share for the quarter, beating the consensus estimate of $1.94 by $0.55. Arch Capital Group had a return on equity of 21.94% and a net margin of 32.59%. The firm had revenue of $3.98 billion for the quarter, compared to analysts’ expectations of $3.67 billion. During the same period in the prior year, the business posted $2.14 earnings per share. On average, equities analysts forecast that Arch Capital Group will post 8.03 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Maamoun Rajeh sold 50,000 shares of the stock in a transaction that occurred on 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 sale, the chief executive officer now owns 336,170 shares of the company’s stock, valued at $29,408,151.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, CEO Maamoun Rajeh sold 50,000 shares of the stock in a transaction that occurred on 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 sale, the chief executive officer now owns 336,170 shares of the company’s stock, valued at $29,408,151.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Nicolas Papadopoulo sold 60,000 shares of the stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $87.52, for a total value of $5,251,200.00. Following the sale, the insider now directly owns 651,931 shares of the company’s stock, valued at approximately $57,057,001.12. 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 over the last quarter. 4.20% of the stock is owned by corporate insiders.

Institutional Trading of Arch Capital Group

Institutional investors have recently made changes to their positions in the stock. Householder Group Estate & Retirement Specialist LLC bought a new position in shares of Arch Capital Group during the fourth quarter valued at approximately $27,000. Larson Financial Group LLC bought a new position in shares of Arch Capital Group during the fourth quarter valued at approximately $30,000. Richardson Financial Services Inc. bought a new position in shares of Arch Capital Group during the fourth quarter valued at approximately $33,000. First Horizon Advisors Inc. raised its holdings in shares of Arch Capital Group by 151.0% during the first quarter. First Horizon Advisors Inc. now owns 497 shares of the insurance provider’s stock valued at $34,000 after acquiring an additional 299 shares in the last quarter. Finally, Steward Financial Group LLC raised its holdings in shares of Arch Capital Group by 180.7% during the third quarter. Steward Financial Group LLC now owns 525 shares of the insurance provider’s stock valued at $41,000 after acquiring an additional 338 shares in the last quarter. 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.