Arch Capital Group (NASDAQ:ACGL) Given New $114.00 Price Target at Citigroup

Arch Capital Group (NASDAQ:ACGL) had its price target hoisted by stock analysts at Citigroup from $105.00 to $114.00 in a note issued to investors on Tuesday, Benzinga reports. The firm presently has a “neutral” rating on the insurance provider’s stock. Citigroup’s price target would indicate a potential upside of 2.38% from the stock’s previous close.

ACGL has been the topic of a number of other reports. Roth Mkm raised their price objective on shares of Arch Capital Group from $110.00 to $125.00 and gave the company a “buy” rating in a research note on Friday, August 23rd. Barclays began coverage on Arch Capital Group in a report on Wednesday, September 4th. They set an “equal weight” rating and a $120.00 price objective for the company. Bank of America lowered their price objective on Arch Capital Group from $119.00 to $118.00 and set a “buy” rating for the company in a research note on Thursday, July 11th. Deutsche Bank Aktiengesellschaft lifted their target price on Arch Capital Group from $110.00 to $120.00 and gave the company a “buy” rating in a research report on Monday, July 1st. Finally, Wells Fargo & Company lowered their price target on Arch Capital Group from $111.00 to $110.00 and set an “overweight” rating for the company in a research report on Monday, August 12th. Five investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $110.93.

Arch Capital Group Stock Down 0.3 %

Shares of ACGL traded down $0.38 during trading hours on Tuesday, hitting $111.35. The stock had a trading volume of 344,862 shares, compared to its average volume of 1,619,178. The firm has a 50 day simple moving average of $101.58 and a 200-day simple moving average of $97.49. Arch Capital Group has a 1-year low of $72.85 and a 1-year high of $114.65. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.60 and a quick ratio of 0.60. The firm has a market capitalization of $41.81 billion, a P/E ratio of 8.79, a price-to-earnings-growth ratio of 2.00 and a beta of 0.59.

Arch Capital Group (NASDAQ:ACGL) last announced its quarterly earnings data on Tuesday, July 30th. The insurance provider reported $2.57 EPS for the quarter, beating analysts’ consensus estimates of $2.21 by $0.36. Arch Capital Group had a return on equity of 21.42% and a net margin of 35.19%. The firm had revenue of $3.78 billion during the quarter, compared to analysts’ expectations of $3.89 billion. During the same quarter last year, the firm posted $1.92 earnings per share. The company’s revenue for the quarter was up 10.3% compared to the same quarter last year. Sell-side analysts predict that Arch Capital Group will post 9.01 EPS for the current fiscal year.

Insider Buying and Selling at Arch Capital Group

In other news, CFO Francois Morin sold 11,460 shares of Arch Capital Group stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $102.46, for a total value of $1,174,191.60. Following the completion of the transaction, the chief financial officer now owns 221,779 shares in the company, valued at $22,723,476.34. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 4.20% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. UMB Bank n.a. bought a new position in shares of Arch Capital Group in the second quarter worth $30,000. Baldwin Brothers LLC MA raised its stake in shares of Arch Capital Group by 50.7% during the 2nd quarter. Baldwin Brothers LLC MA now owns 309 shares of the insurance provider’s stock valued at $31,000 after purchasing an additional 104 shares during the period. Richardson Financial Services Inc. purchased a new stake in Arch Capital Group during the 4th quarter worth about $33,000. Rothschild Investment LLC bought a new position in Arch Capital Group in the 2nd quarter worth about $35,000. Finally, LRI Investments LLC purchased a new position in Arch Capital Group during the 1st quarter valued at about $38,000. 89.07% of the stock is currently owned by hedge funds and other institutional investors.

Arch Capital Group Company Profile

Arch Capital Group Ltd., 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.