Bank of America Raises Arch Capital Group (NASDAQ:ACGL) Price Target to $135.00

Arch Capital Group (NASDAQ:ACGL) had its price target upped by Bank of America from $119.00 to $135.00 in a report published on Thursday, Benzinga reports. The firm currently has a buy rating on the insurance provider’s stock.

Other analysts have also issued research reports about the company. Roth Mkm increased their target price on Arch Capital Group from $110.00 to $125.00 and gave the stock a buy rating in a research note on Friday, August 23rd. TD Cowen upped their price target on Arch Capital Group from $116.00 to $138.00 and gave the stock a buy rating in a report on Friday, September 20th. Royal Bank of Canada lifted their target price on Arch Capital Group from $108.00 to $112.00 and gave the company an outperform rating in a research note on Thursday, August 1st. StockNews.com lowered Arch Capital Group from a buy rating to a hold rating in a research note on Wednesday, July 31st. Finally, Jefferies Financial Group boosted their price target on Arch Capital Group from $114.00 to $134.00 and gave the company a buy rating in a research report on Wednesday, October 9th. Five analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of Moderate Buy and a consensus target price of $118.87.

Arch Capital Group Price Performance

NASDAQ ACGL opened at $114.40 on Thursday. The business’s fifty day moving average price is $108.91 and its 200-day moving average price is $101.38. The stock has a market capitalization of $43.02 billion, a price-to-earnings ratio of 8.05, a PEG ratio of 2.03 and a beta of 0.59. Arch Capital Group has a 1-year low of $72.85 and a 1-year high of $116.47. 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 (NASDAQ:ACGL) last posted its quarterly earnings results 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. Arch Capital Group had a return on equity of 21.42% and a net margin of 35.19%. The business had revenue of $3.78 billion during the quarter, compared to the consensus estimate of $3.89 billion. During the same period in the prior year, the company posted $1.92 EPS. The firm’s revenue for the quarter was up 10.3% compared to the same quarter last year. On average, equities analysts predict that Arch Capital Group will post 9.11 earnings per share for the current year.

Insiders Place Their Bets

In other Arch Capital Group news, CFO Francois Morin sold 11,460 shares of the 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 transaction, the chief financial officer now directly owns 221,779 shares of the company’s stock, valued at $22,723,476.34. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 4.20% of the company’s stock.

Institutional Investors Weigh In On Arch Capital Group

Several hedge funds and other institutional investors have recently made changes to their positions in ACGL. UMB Bank n.a. acquired a new stake in shares of Arch Capital Group in the second quarter valued at about $30,000. Baldwin Brothers LLC MA raised its position in Arch Capital Group by 50.7% in the 2nd quarter. Baldwin Brothers LLC MA now owns 309 shares of the insurance provider’s stock worth $31,000 after purchasing an additional 104 shares during the last quarter. Richardson Financial Services Inc. bought a new position in Arch Capital Group in the 4th quarter worth approximately $33,000. Rothschild Investment LLC acquired a new stake in Arch Capital Group during the 2nd quarter worth $35,000. Finally, LRI Investments LLC acquired a new stake in Arch Capital Group during the 1st quarter worth $38,000. 89.07% of the stock is 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.