Arch Capital Group (NASDAQ:ACGL) Sets New 52-Week High at $113.67

Arch Capital Group Ltd. (NASDAQ:ACGL)’s share price hit a new 52-week high on Tuesday . The stock traded as high as $113.67 and last traded at $113.67, with a volume of 4733 shares. The stock had previously closed at $113.09.

Analysts Set New Price Targets

ACGL has been the subject of several recent research reports. Keefe, Bruyette & Woods increased their price target on Arch Capital Group from $120.00 to $121.00 and gave the company an “outperform” rating in a report on Wednesday, August 7th. Bank of America reduced their price target on Arch Capital Group from $119.00 to $118.00 and set a “buy” rating on the stock in a report on Thursday, July 11th. Wells Fargo & Company dropped their price objective on shares of Arch Capital Group from $111.00 to $110.00 and set an “overweight” rating for the company in a report on Monday, August 12th. Roth Mkm lifted their target price on shares of Arch Capital Group from $110.00 to $125.00 and gave the stock a “buy” rating in a research note on Friday, August 23rd. Finally, Evercore ISI increased their price target on shares of Arch Capital Group from $100.00 to $104.00 and gave the company an “in-line” rating in a research note on Wednesday, July 31st. Five research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $106.50.

Arch Capital Group Price Performance

The stock has a market cap of $42.62 billion, a PE ratio of 8.94, a P/E/G ratio of 2.05 and a beta of 0.59. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 0.16. The company has a fifty day moving average of $100.94 and a 200-day moving average of $96.86.

Arch Capital Group (NASDAQ:ACGL) last announced its quarterly earnings data on Tuesday, July 30th. The insurance provider reported $2.57 earnings per share for the quarter, beating analysts’ consensus estimates of $2.21 by $0.36. The firm had revenue of $3.78 billion during the quarter, compared to analysts’ expectations of $3.89 billion. Arch Capital Group had a net margin of 35.19% and a return on equity of 21.42%. The business’s quarterly revenue was up 10.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.92 earnings per share. Sell-side analysts expect that Arch Capital Group Ltd. will post 9.01 EPS for the current fiscal year.

Insider Activity

In other Arch Capital Group news, CFO Francois Morin sold 11,460 shares of the stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $102.46, for a total value of $1,174,191.60. Following the sale, the chief financial officer now owns 221,779 shares of the company’s stock, valued at approximately $22,723,476.34. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 4.20% of the company’s stock.

Institutional Investors Weigh In On Arch Capital Group

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Cetera Investment Advisers boosted its position in shares of Arch Capital Group by 18.4% during the 2nd quarter. Cetera Investment Advisers now owns 49,193 shares of the insurance provider’s stock worth $4,963,000 after acquiring an additional 7,652 shares in the last quarter. Truist Financial Corp boosted its holdings in Arch Capital Group by 4.9% in the second quarter. Truist Financial Corp now owns 786,818 shares of the insurance provider’s stock valued at $79,382,000 after purchasing an additional 36,566 shares in the last quarter. Brandes Investment Partners LP purchased a new position in Arch Capital Group in the second quarter valued at approximately $48,119,000. NewEdge Advisors LLC raised its holdings in Arch Capital Group by 18.8% during the second quarter. NewEdge Advisors LLC now owns 14,914 shares of the insurance provider’s stock worth $1,505,000 after purchasing an additional 2,361 shares in the last quarter. Finally, Creative Planning lifted its position in shares of Arch Capital Group by 14.4% during the 2nd quarter. Creative Planning now owns 36,230 shares of the insurance provider’s stock worth $3,655,000 after buying an additional 4,571 shares during the last quarter. 89.07% of the stock is currently owned by institutional investors and hedge funds.

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.