Arch Capital Group (NASDAQ:ACGL) Price Target Raised to $119.00

Arch Capital Group (NASDAQ:ACGL) had its price target lifted by Wells Fargo & Company from $107.00 to $119.00 in a research note released on Monday,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the insurance provider’s stock.

Several other equities research analysts have also recently commented on the stock. Citigroup boosted their price target on shares of Arch Capital Group from $122.50 to $125.00 and gave the stock a “buy” rating in a research report on Thursday, October 29th. Keefe, Bruyette & Woods reduced their price objective on shares of Arch Capital Group from $99.00 to $95.00 and set a “market perform” rating for the company in a research report on Monday, October 12th. Royal Bank Of Canada restated an “outperform” rating and set a $120.00 price objective (up from $115.00) on shares of Arch Capital Group in a research report on Thursday, July 30th. JPMorgan Chase & Co. lowered their price objective on shares of Arch Capital Group from $118.00 to $113.00 and set a “neutral” rating on the stock in a research note on Friday, October 9th. Finally, Jefferies Financial Group boosted their target price on shares of Arch Capital Group from $102.00 to $106.00 and gave the stock a “hold” rating in a report on Thursday, October 29th. Seven research analysts have rated the stock with a Buy rating, eight have assigned 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 an average price target of $111.65.

Arch Capital Group Stock Up 2.7%

ACGL opened at $110.68 on Monday. Arch Capital Group has a one year low of $87.05 and a one year high of $110.73. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.57 and a current ratio of 0.56. The stock’s fifty day moving average is $98.47 and its 200-day moving average is $97.04. The company has a market capitalization of $37.77 billion, a PE ratio of 9.05, a P/E/G ratio of 3.57 and a beta of 0.22.

Arch Capital Group (NASDAQ:ACGL) last announced its quarterly earnings data on Tuesday, October 27th. The insurance provider reported $2.67 earnings per share for the quarter, beating the consensus estimate of $2.31 by $0.36. Arch Capital Group had a return on equity of 16.62% and a net margin of 23.31%. The business had revenue of $4.66 billion during the quarter, compared to analyst estimates of $4.06 billion. During the same quarter in the prior year, the firm posted $2.77 earnings per share. On average, equities analysts predict that Arch Capital Group will post 10.08 EPS for the current fiscal year.

Insider Buying and Selling at Arch Capital Group

In related news, CFO Francois Morin sold 11,010 shares of Arch Capital Group stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $99.32, for a total value of $1,093,513.20. Following the transaction, the chief financial officer owned 184,826 shares of the company’s stock, valued at approximately $18,356,918.32. This trade represents a 5.62% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 3.30% of the stock is owned by company insiders.

Institutional Trading of Arch Capital Group

A number of hedge funds have recently bought and sold shares of the company. Lido Advisors LLC increased its position in shares of Arch Capital Group by 78.1% in the third quarter. Lido Advisors LLC now owns 11,919 shares of the insurance provider’s stock worth $1,101,000 after acquiring an additional 5,227 shares in the last quarter. Gen Wealth Partners Inc purchased a new stake in shares of Arch Capital Group in the 3rd quarter valued at approximately $33,000. Kinsale Capital Group Inc. lifted its position in shares of Arch Capital Group by 47.3% in the 3rd quarter. Kinsale Capital Group Inc. now owns 165,784 shares of the insurance provider’s stock valued at $15,312,000 after acquiring an additional 53,234 shares in the last quarter. 71 West Capital Partners acquired a new position in Arch Capital Group in the 3rd quarter worth approximately $202,000. Finally, AlphaCore Capital LLC grew its position in Arch Capital Group by 32.7% during the 3rd quarter. AlphaCore Capital LLC now owns 21,783 shares of the insurance provider’s stock worth $2,012,000 after purchasing an additional 5,368 shares in the last quarter. 89.07% of the stock is owned by hedge funds and other institutional investors.

About Arch Capital Group

Arch Capital Group Ltd. is a Bermuda-based insurance, reinsurance and mortgage insurance company whose shares trade on the Nasdaq under the symbol ACGL. The company was established in 1995 and has developed into a global provider of specialty risk-management products and services.

Through its insurance operations, Arch offers property, casualty, specialty, and accident and health coverage to businesses and other policyholders. Its reinsurance operations provide coverage and risk-transfer solutions to insurance companies across a range of property and casualty lines.