Arch Capital Group (NASDAQ:ACGL) Price Target Raised to $109.00

Arch Capital Group (NASDAQ:ACGL) had its price target raised by Wells Fargo & Company from $106.00 to $109.00 in a report published on Wednesday,Benzinga reports. The brokerage currently has an overweight rating on the insurance provider’s stock.

Other equities research analysts have also issued reports about the company. The Goldman Sachs Group reaffirmed a “sell” rating and set a $93.00 target price (up from $84.00) on shares of Arch Capital Group in a research report on Wednesday, January 7th. Morgan Stanley set a $125.00 price target on Arch Capital Group in a research note on Friday, January 16th. Barclays set a $104.00 price objective on shares of Arch Capital Group and gave the company an “equal weight” rating in a research note on Thursday, January 8th. Evercore set a $100.00 target price on shares of Arch Capital Group and gave the stock an “in-line” rating in a report on Wednesday, January 7th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $97.00 target price (up from $93.00) on shares of Arch Capital Group in a research report on Wednesday, January 14th. Nine analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $109.27.

Arch Capital Group Stock Down 1.5%

NASDAQ ACGL opened at $98.38 on Wednesday. Arch Capital Group has a 12 month low of $82.44 and a 12 month high of $103.39. The company has a market capitalization of $35.68 billion, a P/E ratio of 8.47, a PEG ratio of 4.00 and a beta of 0.42. The company’s 50 day simple moving average is $95.13 and its 200 day simple moving average is $91.88. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.53 and a quick ratio of 0.55.

Arch Capital Group (NASDAQ:ACGL) last posted its quarterly earnings results on Monday, February 9th. The insurance provider reported $2.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.34 by $0.64. The firm had revenue of $3.80 billion for the quarter, compared to analyst estimates of $3.94 billion. Arch Capital Group had a net margin of 22.07% and a return on equity of 16.73%. During the same quarter in the previous year, the business posted $2.26 earnings per share. Equities research analysts expect that Arch Capital Group will post 8.42 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider John M. Pasquesi sold 8,800 shares of the business’s stock in a transaction that occurred on Monday, December 15th. The shares were sold at an average price of $94.17, for a total transaction of $828,696.00. Following the transaction, the insider directly owned 289,556 shares of the company’s stock, valued at approximately $27,267,488.52. The trade was a 2.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Francois Morin sold 8,000 shares of the company’s stock in a transaction that occurred on Friday, November 28th. The shares were sold at an average price of $94.62, for a total transaction of $756,960.00. Following the completion of the transaction, the chief financial officer owned 266,681 shares in the company, valued at approximately $25,233,356.22. This represents a 2.91% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 268,096 shares of company stock worth $25,287,645. 4.20% of the stock is owned by company insiders.

Institutional Trading of Arch Capital Group

Several hedge funds and other institutional investors have recently modified their holdings of the company. Elyxium Wealth LLC acquired a new position in Arch Capital Group in the 4th quarter worth about $27,000. WealthCollab LLC grew its stake in shares of Arch Capital Group by 410.3% in the 3rd quarter. WealthCollab LLC now owns 296 shares of the insurance provider’s stock valued at $27,000 after buying an additional 238 shares in the last quarter. JPL Wealth Management LLC acquired a new position in Arch Capital Group in the third quarter worth approximately $28,000. Grove Bank & Trust acquired a new position in Arch Capital Group in the fourth quarter worth approximately $30,000. Finally, Aventura Private Wealth LLC bought a new position in Arch Capital Group during the fourth quarter valued at approximately $30,000. 89.07% of the stock is currently owned by hedge funds and other institutional investors.

Arch Capital Group Company Profile

Arch Capital Group Ltd. (NASDAQ: ACGL) is a Bermuda-based insurance and reinsurance holding company that underwrites a broad range of property and casualty, mortgage, and specialty risk products. The company operates through a group of underwriting subsidiaries and platforms to provide insurance, reinsurance and related risk solutions tailored to commercial, institutional and individual clients.

Arch’s product mix includes treaty and facultative reinsurance, primary casualty and property insurance, mortgage insurance and other specialty lines.