Arch Capital Group (NASDAQ:ACGL) Price Target Raised to $110.00 at Morgan Stanley

Arch Capital Group (NASDAQ:ACGL) had its price objective upped by equities researchers at Morgan Stanley from $105.00 to $110.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage currently has an “overweight” rating on the insurance provider’s stock. Morgan Stanley’s target price suggests a potential upside of 18.57% from the company’s previous close.

Several other analysts have also recently weighed in on the stock. UBS Group reissued a “buy” rating and issued a $118.00 price objective (down previously from $124.00) on shares of Arch Capital Group in a research note on Monday, August 4th. Citigroup reiterated a “market outperform” rating on shares of Arch Capital Group in a research report on Tuesday, October 28th. JPMorgan Chase & Co. increased their price target on Arch Capital Group from $110.00 to $111.00 and gave the company a “neutral” rating in a research note on Tuesday, October 28th. Wolfe Research began coverage on Arch Capital Group in a research note on Monday, September 15th. They issued a “peer perform” rating on the stock. Finally, Barclays set a $99.00 target price on Arch Capital Group and gave the company an “equal weight” rating in a report on Wednesday, October 8th. Seven investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $106.75.

Arch Capital Group Trading Up 0.3%

Shares of Arch Capital Group stock traded up $0.25 on Monday, hitting $92.77. The stock had a trading volume of 128,941 shares, compared to its average volume of 1,991,013. The stock has a 50 day moving average of $89.36 and a 200 day moving average of $90.42. The firm has a market capitalization of $33.64 billion, a P/E ratio of 8.69, a PEG ratio of 3.24 and a beta of 0.47. Arch Capital Group has a twelve month low of $82.44 and a twelve month high of $101.66. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.56 and a current ratio of 0.55.

Arch Capital Group (NASDAQ:ACGL) last posted its earnings results on Monday, October 27th. The insurance provider reported $2.77 EPS for the quarter, topping the consensus estimate 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 $3.96 billion for the quarter, compared to the consensus estimate of $4.39 billion. During the same period last year, the company earned $1.99 EPS. Sell-side analysts expect that Arch Capital Group will post 8.42 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Maamoun Rajeh sold 10,000 shares of the company’s stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $94.15, for a total transaction of $941,500.00. Following the transaction, the insider owned 433,589 shares in the company, valued at approximately $40,822,404.35. This represents a 2.25% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 4.20% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in ACGL. Mainstay Capital Management LLC ADV bought a new position in Arch Capital Group in the 2nd quarter valued at about $363,000. Steward Partners Investment Advisory LLC increased its holdings in Arch Capital Group by 9.9% during the 1st quarter. Steward Partners Investment Advisory LLC now owns 34,987 shares of the insurance provider’s stock worth $3,365,000 after purchasing an additional 3,158 shares in the last quarter. Bryn Mawr Trust Advisors LLC purchased a new stake in shares of Arch Capital Group in the second quarter worth approximately $371,000. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in shares of Arch Capital Group by 9.5% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 658,813 shares of the insurance provider’s stock valued at $63,365,000 after purchasing an additional 57,297 shares in the last quarter. Finally, OMERS ADMINISTRATION Corp boosted its position in shares of Arch Capital Group by 42.2% during the first quarter. OMERS ADMINISTRATION Corp now owns 45,026 shares of the insurance provider’s stock valued at $4,331,000 after buying an additional 13,357 shares during the last quarter. 89.07% of the stock is owned by institutional investors and hedge funds.

About Arch Capital Group

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.