Arch Capital Group (NASDAQ:ACGL) Price Target Raised to $108.00

Arch Capital Group (NASDAQ:ACGL) had its price target increased by JPMorgan Chase & Co. from $106.00 to $108.00 in a research note issued to investors on Wednesday, Benzinga reports. They currently have a neutral rating on the insurance provider’s stock.

ACGL has been the subject of a number of other reports. Evercore ISI raised their target price on Arch Capital Group from $98.00 to $100.00 and gave the company an in-line rating in a research note on Tuesday, April 30th. Wells Fargo & Company raised their price objective on shares of Arch Capital Group from $109.00 to $110.00 and gave the company an overweight rating in a research report on Wednesday, May 1st. StockNews.com upgraded shares of Arch Capital Group from a hold rating to a buy rating in a research report on Thursday, July 4th. JMP Securities raised their price target on shares of Arch Capital Group from $100.00 to $110.00 and gave the company a market outperform rating in a report on Tuesday, April 30th. Finally, Roth Mkm restated a buy rating and issued a $110.00 price objective on shares of Arch Capital Group in a research report on Tuesday, April 30th. Five investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, Arch Capital Group has an average rating of Moderate Buy and a consensus target price of $104.53.

Arch Capital Group Trading Up 1.6 %

Shares of Arch Capital Group stock opened at $98.67 on Wednesday. The stock has a market capitalization of $37.05 billion, a P/E ratio of 7.79, a price-to-earnings-growth ratio of 1.60 and a beta of 0.58. Arch Capital Group has a 12-month low of $72.85 and a 12-month high of $103.79. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 0.17. The company has a 50-day simple moving average of $99.13 and a 200 day simple moving average of $93.12.

Arch Capital Group (NASDAQ:ACGL) last posted its quarterly earnings data on Tuesday, July 30th. The insurance provider reported $2.57 earnings per share for the quarter, topping the consensus estimate of $2.21 by $0.36. The company had revenue of $3.78 billion during the quarter, compared to analyst estimates of $3.89 billion. Arch Capital Group had a net margin of 35.19% and a return on equity of 22.39%. The company’s revenue was up 10.3% on a year-over-year basis. During the same quarter last year, the business posted $1.92 earnings per share. Research analysts expect that Arch Capital Group will post 8.58 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Arch Capital Group news, CEO David Gansberg sold 10,000 shares of the stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $96.64, for a total value of $966,400.00. Following the completion of the sale, the chief executive officer now directly owns 228,035 shares in the company, valued at $22,037,302.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 4.20% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Wedge Capital Management L L P NC boosted its stake in Arch Capital Group by 28.9% in the 4th quarter. Wedge Capital Management L L P NC now owns 205,698 shares of the insurance provider’s stock worth $15,277,000 after purchasing an additional 46,089 shares during the period. Asset Management One Co. Ltd. lifted its holdings in shares of Arch Capital Group by 31.7% in the fourth quarter. Asset Management One Co. Ltd. now owns 201,790 shares of the insurance provider’s stock valued at $14,945,000 after purchasing an additional 48,587 shares in the last quarter. Janney Montgomery Scott LLC boosted its position in shares of Arch Capital Group by 19.0% during the fourth quarter. Janney Montgomery Scott LLC now owns 89,148 shares of the insurance provider’s stock worth $6,621,000 after buying an additional 14,233 shares during the period. Gladstone Capital Management LLP grew its holdings in shares of Arch Capital Group by 52.8% during the fourth quarter. Gladstone Capital Management LLP now owns 1,385,307 shares of the insurance provider’s stock worth $102,887,000 after buying an additional 478,570 shares in the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its position in Arch Capital Group by 61.6% in the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 3,191,282 shares of the insurance provider’s stock valued at $237,017,000 after buying an additional 1,216,080 shares during the last quarter. Institutional investors and hedge funds 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.