TD Cowen Raises Arch Capital Group (NASDAQ:ACGL) Price Target to $138.00

Arch Capital Group (NASDAQ:ACGL) had its price objective upped by TD Cowen from $116.00 to $138.00 in a research note issued to investors on Friday, Benzinga reports. TD Cowen currently has a buy rating on the insurance provider’s stock.

A number of other analysts have also commented on the company. JPMorgan Chase & Co. boosted their price objective on Arch Capital Group from $106.00 to $108.00 and gave the stock a neutral rating in a report on Wednesday, July 31st. JMP Securities upped their price target on Arch Capital Group from $110.00 to $115.00 and gave the stock a market outperform rating in a report on Wednesday, July 31st. Barclays initiated coverage on Arch Capital Group in a research note on Wednesday, September 4th. They set an equal weight rating and a $120.00 price objective on the stock. Royal Bank of Canada upped their target price on shares of Arch Capital Group from $108.00 to $112.00 and gave the stock an outperform rating in a research note on Thursday, August 1st. Finally, Roth Mkm raised their price target on shares of Arch Capital Group from $110.00 to $125.00 and gave the company a buy rating in a research report on Friday, August 23rd. Five research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Arch Capital Group has an average rating of Moderate Buy and a consensus target price of $113.73.

Arch Capital Group Price Performance

ACGL stock opened at $113.24 on Friday. The company’s 50-day moving average is $104.15 and its 200-day moving average is $99.04. The stock has a market capitalization of $42.59 billion, a PE ratio of 8.94, a price-to-earnings-growth ratio of 2.07 and a beta of 0.60. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.60 and a quick ratio of 0.60. Arch Capital Group has a 1 year low of $72.85 and a 1 year high of $114.69.

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

Insiders Place Their Bets

In other news, CFO Francois Morin sold 11,460 shares of the company’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $102.46, for a total transaction of $1,174,191.60. Following the transaction, the chief financial officer now owns 221,779 shares of the company’s stock, valued at approximately $22,723,476.34. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 4.20% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Sanctuary Advisors LLC purchased a new stake in shares of Arch Capital Group during the second quarter worth $5,412,000. Cetera Investment Advisers lifted its holdings in Arch Capital Group by 18.4% during the 2nd quarter. Cetera Investment Advisers now owns 49,193 shares of the insurance provider’s stock worth $4,963,000 after purchasing an additional 7,652 shares in the last quarter. Truist Financial Corp boosted its stake in Arch Capital Group by 4.9% in the 2nd quarter. Truist Financial Corp now owns 786,818 shares of the insurance provider’s stock worth $79,382,000 after purchasing an additional 36,566 shares during the period. Brandes Investment Partners LP purchased a new position in Arch Capital Group during the 2nd quarter valued at about $48,119,000. Finally, NewEdge Advisors LLC increased its position in shares of Arch Capital Group by 18.8% during the second quarter. NewEdge Advisors LLC now owns 14,914 shares of the insurance provider’s stock valued at $1,505,000 after buying an additional 2,361 shares during the period. 89.07% of the stock is owned by institutional investors.

About Arch Capital Group

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.