Arch Capital Group (NASDAQ:ACGL) Price Target Raised to $104.00 at Evercore ISI

Arch Capital Group (NASDAQ:ACGL) had its price objective lifted by Evercore ISI from $100.00 to $104.00 in a research note issued on Wednesday, Benzinga reports. The firm currently has an “in-line” rating on the insurance provider’s stock. Evercore ISI’s price target would indicate a potential upside of 9.06% from the stock’s current price.

Several other analysts have also issued reports on the stock. Wells Fargo & Company lifted their target price on shares of Arch Capital Group from $109.00 to $110.00 and gave the company an “overweight” rating in a research report on Wednesday, May 1st. Roth Mkm reiterated a “buy” rating and issued a $110.00 target price on shares of Arch Capital Group in a research report on Tuesday, April 30th. StockNews.com upgraded shares of Arch Capital Group from a “hold” rating to a “buy” rating in a research report on Thursday, July 4th. Morgan Stanley boosted their price target on shares of Arch Capital Group from $104.00 to $109.00 and gave the stock an “overweight” rating in a research report on Monday, April 15th. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on shares of Arch Capital Group from $110.00 to $120.00 and gave the stock a “buy” rating in a research report on Monday, July 1st. Four research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $103.27.

Arch Capital Group Stock Performance

ACGL stock traded down $2.84 during midday trading on Wednesday, hitting $95.36. 1,142,863 shares of the stock traded hands, compared to its average volume of 1,659,053. The firm has a market cap of $35.81 billion, a P/E ratio of 7.53, a PEG ratio of 1.62 and a beta of 0.58. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.59 and a quick ratio of 0.59. The stock’s fifty day simple moving average is $99.46 and its 200-day simple moving average is $92.92. Arch Capital Group has a 1-year low of $72.85 and a 1-year high of $103.79.

Arch Capital Group (NASDAQ:ACGL) last released its quarterly earnings results on Tuesday, July 30th. The insurance provider reported $2.57 EPS for the quarter, beating the consensus estimate of $2.21 by $0.36. The company had revenue of $3.78 billion for the quarter, compared to analyst estimates of $3.89 billion. Arch Capital Group had a net margin of 33.65% and a return on equity of 21.85%. The firm’s revenue was up 10.3% on a year-over-year basis. During the same quarter last year, the business earned $1.92 earnings per share. On average, analysts expect that Arch Capital Group will post 8.59 earnings per share for the current year.

Insiders Place Their Bets

In other Arch Capital Group news, CEO David Gansberg sold 10,000 shares of Arch Capital Group stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $96.64, for a total transaction of $966,400.00. Following the transaction, the chief executive officer now directly owns 228,035 shares of the company’s stock, valued at $22,037,302.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 4.20% of the stock is owned by insiders.

Hedge Funds Weigh In On Arch Capital Group

Institutional investors have recently bought and sold shares of the company. Van ECK Associates Corp purchased a new stake in shares of Arch Capital Group in the 2nd quarter valued at approximately $6,112,000. Banque Cantonale Vaudoise raised its stake in shares of Arch Capital Group by 58.2% in the 2nd quarter. Banque Cantonale Vaudoise now owns 20,363 shares of the insurance provider’s stock valued at $2,054,000 after acquiring an additional 7,490 shares during the period. Anfield Capital Management LLC purchased a new stake in shares of Arch Capital Group in the 2nd quarter valued at approximately $1,165,000. Commonwealth Equity Services LLC raised its stake in shares of Arch Capital Group by 38.7% in the 2nd quarter. Commonwealth Equity Services LLC now owns 141,134 shares of the insurance provider’s stock valued at $14,239,000 after acquiring an additional 39,368 shares during the period. Finally, Rothschild Investment LLC purchased a new stake in shares of Arch Capital Group in the 2nd quarter valued at approximately $35,000. 89.07% of the stock is owned by hedge funds and other institutional investors.

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.