Arch Capital Group (NASDAQ:ACGL) Price Target Raised to $111.00

Arch Capital Group (NASDAQ:ACGL) had its price objective raised by JPMorgan Chase & Co. from $110.00 to $111.00 in a research report released on Tuesday,Benzinga reports. The brokerage currently has a neutral rating on the insurance provider’s stock.

ACGL has been the topic of a number of other research reports. Citigroup reissued a “market outperform” rating on shares of Arch Capital Group in a report on Tuesday. Keefe, Bruyette & Woods increased their target price on Arch Capital Group from $102.00 to $103.00 and gave the company a “market perform” rating in a research note on Thursday, August 14th. Cowen restated a “buy” rating on shares of Arch Capital Group in a research note on Monday, August 4th. Weiss Ratings restated a “hold (c+)” rating on shares of Arch Capital Group in a research note on Wednesday, October 8th. Finally, Wells Fargo & Company increased their target price on Arch Capital Group from $107.00 to $111.00 and gave the company an “overweight” rating in a research note on Wednesday, October 8th. Eight investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $108.64.

Arch Capital Group Stock Performance

Shares of NASDAQ ACGL opened at $86.64 on Tuesday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.56 and a current ratio of 0.55. The firm has a market cap of $32.34 billion, a price-to-earnings ratio of 8.10, a P/E/G ratio of 3.24 and a beta of 0.47. The business’s 50-day simple moving average is $89.91 and its 200-day simple moving average is $90.65. Arch Capital Group has a 52 week low of $82.44 and a 52 week high of $103.21.

Arch Capital Group (NASDAQ:ACGL) last issued its quarterly earnings data on Monday, October 27th. The insurance provider reported $2.77 EPS for the quarter, beating analysts’ consensus estimates of $1.76 by $1.01. The business had revenue of $3.96 billion for the quarter, compared to analyst estimates of $4.39 billion. Arch Capital Group had a return on equity of 16.38% and a net margin of 20.96%.During the same quarter in the prior year, the firm posted $1.99 EPS. As a group, equities research analysts expect that Arch Capital Group will post 8.42 earnings per share for the current fiscal year.

Insider Activity at Arch Capital Group

In other Arch Capital Group news, insider Maamoun Rajeh sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $94.15, for a total value of $941,500.00. Following the completion of the sale, the insider owned 433,589 shares in the company, valued at approximately $40,822,404.35. This trade represents a 2.25% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 4.20% of the company’s stock.

Institutional Trading of Arch Capital Group

A number of hedge funds have recently modified their holdings of ACGL. Diversified Trust Co bought a new position in shares of Arch Capital Group during the 1st quarter worth approximately $435,000. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Arch Capital Group by 14.1% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 51,804 shares of the insurance provider’s stock worth $4,924,000 after buying an additional 6,406 shares during the period. Smith Group Asset Management LLC lifted its position in shares of Arch Capital Group by 5.5% during the 1st quarter. Smith Group Asset Management LLC now owns 333,391 shares of the insurance provider’s stock worth $32,066,000 after buying an additional 17,422 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd lifted its position in shares of Arch Capital Group by 1.1% during the 1st quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 65,567 shares of the insurance provider’s stock worth $6,306,000 after buying an additional 714 shares during the period. Finally, Summit Trail Advisors LLC lifted its position in shares of Arch Capital Group by 6.9% during the 1st quarter. Summit Trail Advisors LLC now owns 24,034 shares of the insurance provider’s stock worth $2,312,000 after buying an additional 1,548 shares during the period. 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.