Arch Capital Group (NASDAQ:ACGL) Price Target Raised to $114.00 at Wells Fargo & Company

Arch Capital Group (NASDAQ:ACGL) had its price target boosted by Wells Fargo & Company from $110.00 to $114.00 in a research note issued to investors on Thursday morning,Benzinga reports. The firm currently has an overweight rating on the insurance provider’s stock.

A number of other equities research analysts have also recently issued reports on the company. Mizuho upped their target price on Arch Capital Group from $101.00 to $104.00 and gave the stock a “neutral” rating in a research report on Thursday. JPMorgan Chase & Co. decreased their price objective on shares of Arch Capital Group from $117.00 to $110.00 and set a “neutral” rating for the company in a report on Monday, April 20th. Keefe, Bruyette & Woods cut their price target on Arch Capital Group from $102.00 to $99.00 and set a “market perform” rating for the company in a report on Wednesday. UBS Group reissued a “buy” rating and set a $120.00 target price (up from $114.00) on shares of Arch Capital Group in a research report on Wednesday. Finally, Citigroup boosted their price target on shares of Arch Capital Group from $120.00 to $122.50 and gave the company a “buy” rating in a report on Thursday, April 30th. Eight research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Arch Capital Group presently has an average rating of “Hold” and an average price target of $108.12.

Arch Capital Group Stock Down 0.3%

Shares of Arch Capital Group stock opened at $101.70 on Thursday. The firm has a market cap of $35.53 billion, a price-to-earnings ratio of 7.81, a P/E/G ratio of 5.12 and a beta of 0.31. The stock has a 50-day simple moving average of $94.27 and a 200-day simple moving average of $95.45. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.55 and a quick ratio of 0.55. Arch Capital Group has a 52-week low of $82.44 and a 52-week high of $105.09.

Arch Capital Group (NASDAQ:ACGL) last posted its earnings results on Tuesday, March 31st. The insurance provider reported $2.50 earnings per share (EPS) for the quarter. Arch Capital Group had a net margin of 24.64% and a return on equity of 17.61%. The firm had revenue of $4.52 billion during the quarter. On average, equities research analysts expect that Arch Capital Group will post 9.27 earnings per share for the current fiscal year.

Insider Buying and Selling at Arch Capital Group

In other news, Director Daniel Joseph Houston acquired 5,300 shares of the firm’s stock in a transaction 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 transaction, the director owned 9,915 shares of the company’s stock, valued at approximately $932,803.20. This represents a 114.84% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Brian S. Posner sold 3,000 shares of the business’s stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $19.66, for a total value of $58,980.00. The SEC filing for this sale provides additional information. 3.30% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Arch Capital Group

Several large investors have recently bought and sold shares of ACGL. Legal & General Group Plc boosted its holdings in Arch Capital Group by 4.3% during the fourth quarter. Legal & General Group Plc now owns 2,944,169 shares of the insurance provider’s stock worth $282,405,000 after buying an additional 121,090 shares during the last quarter. National Pension Service boosted its stake in Arch Capital Group by 8.5% during the 4th quarter. National Pension Service now owns 683,272 shares of the insurance provider’s stock worth $65,539,000 after acquiring an additional 53,661 shares during the last quarter. Asset Management One Co. Ltd. grew its holdings in Arch Capital Group by 10.6% during the fourth quarter. Asset Management One Co. Ltd. now owns 187,002 shares of the insurance provider’s stock valued at $18,024,000 after purchasing an additional 17,923 shares during the period. Robeco Institutional Asset Management B.V. grew its holdings in Arch Capital Group by 50.4% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 1,548,042 shares of the insurance provider’s stock valued at $148,488,000 after purchasing an additional 518,527 shares during the period. Finally, Marshfield Associates increased its stake in Arch Capital Group by 5.5% in the third quarter. Marshfield Associates now owns 2,724,635 shares of the insurance provider’s stock valued at $247,206,000 after purchasing an additional 141,223 shares in the last quarter. 89.07% of the stock is currently owned by institutional investors and hedge funds.

About Arch Capital Group

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.