Wells Fargo & Company Forecasts Strong Price Appreciation for Arch Capital Group (NASDAQ:ACGL) Stock

Arch Capital Group (NASDAQ:ACGL) had its price target boosted by Wells Fargo & Company from $106.00 to $108.00 in a research report sent to investors on Thursday,Benzinga reports. The brokerage currently has an overweight rating on the insurance provider’s stock.

ACGL has been the topic of a number of other research reports. Royal Bank of Canada decreased their target price on shares of Arch Capital Group from $125.00 to $110.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 12th. JPMorgan Chase & Co. raised their price objective on Arch Capital Group from $106.00 to $107.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 8th. JMP Securities reiterated a “market outperform” rating and set a $125.00 target price on shares of Arch Capital Group in a research report on Wednesday. Barclays decreased their price target on Arch Capital Group from $100.00 to $93.00 and set an “equal weight” rating on the stock in a research report on Friday, April 11th. Finally, Morgan Stanley cut their price objective on shares of Arch Capital Group from $115.00 to $110.00 and set an “overweight” rating for the company in a research report on Friday, February 14th. Six investment 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 stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $115.00.

Arch Capital Group Stock Performance

NASDAQ:ACGL opened at $92.48 on Thursday. The stock has a 50 day simple moving average of $92.06 and a 200 day simple moving average of $94.42. The stock has a market cap of $34.75 billion, a P/E ratio of 8.26, a PEG ratio of 2.31 and a beta of 0.36. Arch Capital Group has a 1-year low of $82.49 and a 1-year high of $116.47. The company has a current ratio of 0.54, a quick ratio of 0.58 and a debt-to-equity ratio of 0.15.

Arch Capital Group (NASDAQ:ACGL) last posted its earnings results on Tuesday, April 29th. The insurance provider reported $1.54 earnings per share for the quarter, missing analysts’ consensus estimates of $1.59 by ($0.05). Arch Capital Group had a return on equity of 17.96% and a net margin of 24.73%. The firm had revenue of $4.52 billion for the quarter, compared to analyst estimates of $4.75 billion. During the same period in the prior year, the business posted $2.45 EPS. The firm’s quarterly revenue was up 10.5% compared to the same quarter last year. Research analysts anticipate that Arch Capital Group will post 8.42 earnings per share for the current year.

Insider Transactions at Arch Capital Group

In other news, insider Louis T. Petrillo sold 11,600 shares of the business’s stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $91.00, for a total transaction of $1,055,600.00. Following the sale, the insider now directly owns 140,023 shares in the company, valued at approximately $12,742,093. The trade was a 7.65 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 4.10% of the company’s stock.

Institutional Investors Weigh In On Arch Capital Group

Several hedge funds have recently added to or reduced their stakes in the business. Capital A Wealth Management LLC bought a new position in shares of Arch Capital Group during the fourth quarter valued at $25,000. Bartlett & CO. Wealth Management LLC bought a new position in Arch Capital Group during the 1st quarter worth $27,000. Wayfinding Financial LLC acquired a new position in Arch Capital Group during the 1st quarter worth about $31,000. Cullen Frost Bankers Inc. bought a new stake in shares of Arch Capital Group in the 4th quarter valued at about $37,000. Finally, Grove Bank & Trust acquired a new stake in shares of Arch Capital Group in the first quarter valued at about $40,000. 89.07% of the stock is currently owned by institutional investors and hedge funds.

About Arch Capital Group

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.