Arch Capital Group (NASDAQ:ACGL) Price Target Raised to $110.00 at Morgan Stanley

Arch Capital Group (NASDAQ:ACGL) had its target price hoisted by Morgan Stanley from $105.00 to $110.00 in a research note released on Monday morning, MarketBeat reports. Morgan Stanley currently has an overweight rating on the insurance provider’s stock.

A number of other research analysts also recently weighed in on the company. Weiss Ratings downgraded Arch Capital Group from a “buy (b)” rating to a “buy (b-)” rating in a report on Monday, May 18th. Barclays lifted their price target on Arch Capital Group from $104.00 to $106.00 and gave the company an “equal weight” rating in a research report on Wednesday, April 8th. Citigroup increased their price objective on Arch Capital Group from $120.00 to $122.50 and gave the stock a “buy” rating in a report on Thursday, April 30th. JPMorgan Chase & Co. lowered their price objective on Arch Capital Group from $117.00 to $110.00 and set a “neutral” rating for the company in a research report on Monday, April 20th. Finally, Keefe, Bruyette & Woods reduced their target price on shares of Arch Capital Group from $105.00 to $102.00 and set a “market perform” rating on the stock in a research report on Tuesday, May 5th. Eight equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Arch Capital Group presently has a consensus rating of “Hold” and a consensus price target of $107.19.

Arch Capital Group Price Performance

ACGL opened at $104.12 on Monday. The stock has a 50-day moving average price of $93.93 and a 200-day moving average price of $95.32. Arch Capital Group has a 12-month low of $82.44 and a 12-month high of $103.39. The stock has a market capitalization of $36.38 billion, a P/E ratio of 7.91, a PEG ratio of 5.11 and a beta of 0.31. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 0.15.

Arch Capital Group (NASDAQ:ACGL) last issued its earnings results on Tuesday, March 31st. The insurance provider reported $2.50 earnings per share for the quarter. The company had revenue of $4.52 billion during the quarter. Arch Capital Group had a return on equity of 17.61% and a net margin of 24.64%. Equities analysts predict that Arch Capital Group will post 9.3 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Brian S. Posner sold 3,000 shares of the company’s stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $19.66, for a total value of $58,980.00. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Daniel Joseph Houston acquired 5,300 shares of the business’s stock in a transaction that occurred on Thursday, April 30th. The shares were purchased at an average cost of $94.08 per share, for a total transaction of $498,624.00. Following the completion of the transaction, the director directly owned 9,915 shares in the company, valued at $932,803.20. The trade was a 114.84% increase in their position. The disclosure for this purchase is available in the SEC filing. 3.30% of the stock is owned by insiders.

Hedge Funds Weigh In On Arch Capital Group

Hedge funds have recently added to or reduced their stakes in the company. Elyxium Wealth LLC bought a new stake in Arch Capital Group in the 4th quarter worth approximately $27,000. WealthCollab LLC lifted its holdings in shares of Arch Capital Group by 410.3% during 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 during the period. JPL Wealth Management LLC purchased a new position in shares of Arch Capital Group in the 3rd quarter worth $28,000. Grove Bank & Trust bought a new stake in shares of Arch Capital Group in the fourth quarter worth $30,000. Finally, Aventura Private Wealth LLC purchased a new stake in Arch Capital Group during the fourth quarter valued at $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.