JMP Securities Increases Arch Capital Group (NASDAQ:ACGL) Price Target to $115.00

Arch Capital Group (NASDAQ:ACGL) had its price objective raised by JMP Securities from $110.00 to $115.00 in a research report report published on Wednesday, Benzinga reports. The brokerage currently has a market outperform rating on the insurance provider’s stock.

A number of other research firms have also weighed in on ACGL. Wells Fargo & Company upped their price target on shares of Arch Capital Group from $109.00 to $110.00 and gave the stock an overweight rating in a research report on Wednesday, May 1st. Morgan Stanley upped 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. Roth Mkm reiterated a buy rating and issued a $110.00 price target on shares of Arch Capital Group in a research report on Tuesday, April 30th. JPMorgan Chase & Co. upped their price target on shares of Arch Capital Group from $106.00 to $108.00 and gave the stock a neutral rating in a research report on Wednesday. Finally, StockNews.com upgraded shares of Arch Capital Group from a hold rating to a buy rating in a research report on Thursday, July 4th. Five research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of Moderate Buy and a consensus price target of $104.53.

Arch Capital Group Stock Up 1.6 %

Shares of ACGL stock opened at $98.67 on Wednesday. Arch Capital Group has a 12 month low of $72.85 and a 12 month high of $103.79. The stock has a market cap of $37.05 billion, a P/E ratio of 7.79, a P/E/G ratio of 1.81 and a beta of 0.58. The company has a current ratio of 0.60, a quick ratio of 0.59 and a debt-to-equity ratio of 0.16. The company has a 50 day simple moving average of $99.13 and a two-hundred day simple moving average of $93.22.

Arch Capital Group (NASDAQ:ACGL) last announced its earnings results on Tuesday, July 30th. The insurance provider reported $2.57 EPS for the quarter, beating analysts’ consensus estimates of $2.21 by $0.36. The business had revenue of $3.78 billion during the quarter, compared to analysts’ expectations of $3.89 billion. Arch Capital Group had a net margin of 35.19% and a return on equity of 21.42%. The firm’s revenue was up 10.3% on a year-over-year basis. During the same period in the prior year, the company earned $1.92 earnings per share. On average, research analysts expect that Arch Capital Group will post 8.75 earnings per share for the current year.

Insider Buying and Selling at Arch Capital Group

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

Institutional Investors Weigh In On Arch Capital Group

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in shares of Arch Capital Group by 0.3% in the first quarter. Vanguard Group Inc. now owns 40,858,890 shares of the insurance provider’s stock valued at $3,776,996,000 after acquiring an additional 104,008 shares during the period. Capital World Investors raised its stake in shares of Arch Capital Group by 0.6% in the fourth quarter. Capital World Investors now owns 10,611,092 shares of the insurance provider’s stock valued at $788,086,000 after acquiring an additional 58,862 shares during the period. Principal Financial Group Inc. raised its stake in shares of Arch Capital Group by 4.4% in the second quarter. Principal Financial Group Inc. now owns 7,100,952 shares of the insurance provider’s stock valued at $716,415,000 after acquiring an additional 300,716 shares during the period. Davis Asset Management L.P. raised its stake in shares of Arch Capital Group by 441.7% in the fourth quarter. Davis Asset Management L.P. now owns 6,500,000 shares of the insurance provider’s stock valued at $482,755,000 after acquiring an additional 5,300,000 shares during the period. Finally, Allspring Global Investments Holdings LLC raised its stake in shares of Arch Capital Group by 1.7% in the first quarter. Allspring Global Investments Holdings LLC now owns 5,907,122 shares of the insurance provider’s stock valued at $546,054,000 after acquiring an additional 99,329 shares during the period. Hedge funds and other institutional investors own 89.07% of the company’s stock.

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.