Arch Capital Group (NASDAQ:ACGL) Now Covered by Barclays

Barclays assumed coverage on shares of Arch Capital Group (NASDAQ:ACGL) in a research note released on Wednesday, MarketBeat.com reports. The firm issued an equal weight rating and a $120.00 price objective on the insurance provider’s stock.

Several other research firms have also recently weighed in on ACGL. Deutsche Bank Aktiengesellschaft lifted their target price on Arch Capital Group from $110.00 to $120.00 and gave the company a buy rating in a research note on Monday, July 1st. Evercore ISI increased their target price on shares of Arch Capital Group from $100.00 to $104.00 and gave the stock an in-line rating in a research report on Wednesday, July 31st. StockNews.com lowered shares of Arch Capital Group from a buy rating to a hold rating in a research note on Wednesday, July 31st. Wells Fargo & Company dropped their price target on shares of Arch Capital Group from $111.00 to $110.00 and set an overweight rating on the stock in a research note on Monday, August 12th. Finally, JMP Securities lifted their price objective on Arch Capital Group from $110.00 to $115.00 and gave the company a market outperform rating in a research report on Wednesday, July 31st. Six analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and a consensus price target of $107.44.

Arch Capital Group Stock Performance

Shares of ACGL opened at $110.45 on Wednesday. The company has a 50-day moving average of $101.36 and a two-hundred day moving average of $97.22. The stock has a market cap of $41.47 billion, a price-to-earnings ratio of 8.72, a PEG ratio of 2.05 and a beta of 0.60. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.60 and a quick ratio of 0.60. Arch Capital Group has a one year low of $72.85 and a one year high of $114.65.

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 firm had revenue of $3.78 billion for 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 company’s quarterly revenue was up 10.3% compared to the same quarter last year. During the same period in the previous year, the company posted $1.92 EPS. On average, equities research analysts expect that Arch Capital Group will post 9.01 earnings per share for the current year.

Insider Buying and Selling

In other Arch Capital Group news, CFO Francois Morin sold 11,460 shares of the business’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $102.46, for a total transaction of $1,174,191.60. Following the completion of the transaction, 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 document filed with the SEC, which can be accessed through this hyperlink. 4.20% of the stock is owned by insiders.

Institutional Trading of Arch Capital Group

A number of hedge funds have recently bought and sold shares of ACGL. Sanctuary Advisors LLC acquired a new stake in Arch Capital Group during the second quarter worth $5,412,000. Cetera Investment Advisers raised its stake in Arch Capital Group by 18.4% during the second 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 increased its position in shares of Arch Capital Group by 4.9% during the 2nd quarter. Truist Financial Corp now owns 786,818 shares of the insurance provider’s stock worth $79,382,000 after purchasing an additional 36,566 shares in the last quarter. Brandes Investment Partners LP bought a new position in Arch Capital Group during the 2nd quarter valued at about $48,119,000. Finally, NewEdge Advisors LLC boosted its position in Arch Capital Group by 18.8% in the second quarter. NewEdge Advisors LLC now owns 14,914 shares of the insurance provider’s stock valued at $1,505,000 after buying an additional 2,361 shares in the last quarter. 89.07% of the stock is owned by institutional investors.

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.