Arch Capital Group (NASDAQ:ACGL) PT Raised to $107.00 at Evercore ISI

Arch Capital Group (NASDAQ:ACGL) had its price target hoisted by Evercore ISI from $104.00 to $107.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage currently has an in-line rating on the insurance provider’s stock.

ACGL has been the topic of a number of other research reports. Wells Fargo & Company reduced their target price on Arch Capital Group from $111.00 to $110.00 and set an overweight rating on the stock in a report on Monday, August 12th. Deutsche Bank Aktiengesellschaft raised their price objective on Arch Capital Group from $110.00 to $120.00 and gave the company a buy rating in a research note on Monday, July 1st. Royal Bank of Canada boosted their target price on Arch Capital Group from $108.00 to $112.00 and gave the stock an outperform rating in a research note on Thursday, August 1st. Citigroup raised their price target on shares of Arch Capital Group from $105.00 to $114.00 and gave the company a neutral rating in a research note on Tuesday, September 10th. Finally, Roth Mkm upped their price objective on shares of Arch Capital Group from $110.00 to $125.00 and gave the stock a buy rating in a research report on Friday, August 23rd. Five investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and an average price target of $118.87.

Arch Capital Group Stock Up 0.4 %

ACGL stock opened at $114.40 on Wednesday. Arch Capital Group has a 52 week low of $72.85 and a 52 week high of $116.47. The business has a 50-day simple moving average of $108.91 and a 200 day simple moving average of $101.31. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 0.16. The company has a market cap of $43.02 billion, a PE ratio of 8.05, a price-to-earnings-growth ratio of 2.03 and a beta of 0.59.

Arch Capital Group (NASDAQ:ACGL) last issued its 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 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 business’s revenue for the quarter was up 10.3% compared to the same quarter last year. During the same period in the previous year, the company earned $1.92 EPS. Sell-side analysts anticipate that Arch Capital Group will post 9.11 EPS for the current fiscal year.

Insider Activity at Arch Capital Group

In other Arch Capital Group news, CFO Francois Morin sold 11,460 shares of Arch Capital Group stock in a transaction dated 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 directly owns 221,779 shares of the company’s stock, valued at approximately $22,723,476.34. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 4.20% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Creative Planning increased its position in shares of Arch Capital Group by 4.7% during the third quarter. Creative Planning now owns 37,950 shares of the insurance provider’s stock worth $4,246,000 after buying an additional 1,720 shares during the period. CX Institutional boosted its position in Arch Capital Group by 1,838.1% during the third quarter. CX Institutional now owns 40,953 shares of the insurance provider’s stock valued at $4,582,000 after acquiring an additional 38,840 shares during the last quarter. Empirical Asset Management LLC acquired a new stake in Arch Capital Group during the 3rd quarter worth about $904,000. Procyon Advisors LLC lifted its stake in shares of Arch Capital Group by 8.0% in the 3rd quarter. Procyon Advisors LLC now owns 9,264 shares of the insurance provider’s stock valued at $1,037,000 after purchasing an additional 687 shares during the period. Finally, Compagnie Lombard Odier SCmA bought a new stake in shares of Arch Capital Group during the 3rd quarter valued at about $46,000. Institutional investors own 89.07% of the company’s stock.

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.