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

Arch Capital Group (NASDAQ:ACGL) had its price target upped by Cantor Fitzgerald from $102.00 to $110.00 in a report released on Monday morning, MarketBeat 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. Royal Bank Of Canada reiterated an “outperform” rating and issued a $120.00 price target (up from $115.00) on shares of Arch Capital Group in a report on Thursday, July 30th. Atlantic Securities set a $126.00 price objective on Arch Capital Group in a report on Wednesday, July 15th. JPMorgan Chase & Co. increased their target price on Arch Capital Group from $110.00 to $116.00 and gave the stock a “neutral” rating in a research report on Monday, July 20th. UBS Group reiterated a “buy” rating and issued a $120.00 target price (up from $114.00) on shares of Arch Capital Group in a report on Wednesday, July 8th. Finally, Weiss Ratings downgraded Arch Capital Group from a “buy (b)” rating to a “buy (b-)” rating in a research report on Monday, May 18th. Seven 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 stock currently has an average rating of “Hold” and an average target price of $110.96.

Arch Capital Group Trading Down 0.4%

Shares of ACGL stock opened at $99.09 on Monday. The firm’s 50-day simple moving average is $96.84 and its 200-day simple moving average is $96.31. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.57 and a quick ratio of 0.55. Arch Capital Group has a 1-year low of $82.44 and a 1-year high of $107.08. The firm has a market cap of $34.62 billion, a P/E ratio of 7.75, a PEG ratio of 10.48 and a beta of 0.31.

Arch Capital Group (NASDAQ:ACGL) last released its earnings results on Tuesday, July 28th. The insurance provider reported $2.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.47 by $0.09. Arch Capital Group had a net margin of 24.40% and a return on equity of 17.06%. The firm had revenue of $4.67 billion during the quarter, compared to the consensus estimate of $4.36 billion. During the same period in the previous year, the firm earned $2.58 earnings per share. As a group, equities analysts forecast that Arch Capital Group will post 9.4 EPS for the current year.

Insider Activity

In related news, Director Brian S. Posner sold 3,000 shares of the firm’s stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $19.66, for a total transaction of $58,980.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 3.30% of the company’s stock.

Institutional Trading of Arch Capital Group

Several hedge funds have recently made changes to their positions in ACGL. Elyxium Wealth LLC acquired a new position in Arch Capital Group in the fourth quarter valued at approximately $27,000. Torren Management LLC raised its position in Arch Capital Group by 66.9% in the second quarter. Torren Management LLC now owns 292 shares of the insurance provider’s stock valued at $28,000 after purchasing an additional 117 shares during the period. WealthCollab LLC raised its position in Arch Capital Group by 410.3% in the third quarter. WealthCollab LLC now owns 296 shares of the insurance provider’s stock valued at $27,000 after purchasing an additional 238 shares during the period. JPL Wealth Management LLC acquired a new position in shares of Arch Capital Group in the 3rd quarter valued at $28,000. Finally, TD Waterhouse Canada Inc. lifted its stake in shares of Arch Capital Group by 72.7% in the 4th quarter. TD Waterhouse Canada Inc. now owns 323 shares of the insurance provider’s stock valued at $31,000 after purchasing an additional 136 shares during the last quarter. Hedge funds and other institutional investors 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.