Arch Capital Group (NASDAQ:ACGL) Price Target Raised to $109.00 at Wells Fargo & Company

Arch Capital Group (NASDAQ:ACGL) had its price target boosted by Wells Fargo & Company from $104.00 to $109.00 in a research report report published on Thursday, Benzinga reports. They currently have an overweight rating on the insurance provider’s stock.

Several other analysts have also issued reports on the stock. Citigroup reduced their target price on shares of Arch Capital Group from $91.00 to $89.00 and set a neutral rating for the company in a research note on Monday, January 22nd. TD Cowen initiated coverage on shares of Arch Capital Group in a research report on Wednesday, January 10th. They issued an outperform rating and a $96.00 price objective for the company. Royal Bank of Canada reissued an outperform rating and set a $98.00 target price on shares of Arch Capital Group in a research report on Friday, February 16th. StockNews.com lowered Arch Capital Group from a buy rating to a hold rating in a report on Monday, March 11th. Finally, JMP Securities increased their price target on Arch Capital Group from $95.00 to $100.00 and gave the company a market outperform rating in a research report on Thursday, February 15th. Five investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of Moderate Buy and a consensus target price of $95.77.

Arch Capital Group Price Performance

ACGL stock opened at $89.98 on Thursday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.57 and a current ratio of 0.57. The business has a 50-day simple moving average of $88.79 and a two-hundred day simple moving average of $83.64. The company has a market capitalization of $33.76 billion, a P/E ratio of 7.74, a price-to-earnings-growth ratio of 1.14 and a beta of 0.57. Arch Capital Group has a 52-week low of $69.05 and a 52-week high of $95.01.

Arch Capital Group (NASDAQ:ACGL) last posted its earnings results on Thursday, February 15th. The insurance provider reported $2.49 earnings per share for the quarter, beating analysts’ consensus estimates of $1.94 by $0.55. Arch Capital Group had a return on equity of 21.94% and a net margin of 32.59%. The company had revenue of $3.98 billion for the quarter, compared to analyst estimates of $3.67 billion. During the same quarter last year, the company earned $2.14 earnings per share. Research analysts expect that Arch Capital Group will post 8.02 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Francois Morin sold 25,689 shares of Arch Capital Group stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $87.47, for a total value of $2,247,016.83. Following the completion of the transaction, the chief financial officer now directly owns 221,779 shares in the company, valued at approximately $19,399,009.13. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Nicolas Papadopoulo sold 60,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $87.52, for a total value of $5,251,200.00. Following the completion of the transaction, the insider now directly owns 651,931 shares in the company, valued at $57,057,001.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Francois Morin sold 25,689 shares of the company’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $87.47, for a total transaction of $2,247,016.83. Following the sale, the chief financial officer now directly owns 221,779 shares in the company, valued at approximately $19,399,009.13. The disclosure for this sale can be found here. Insiders sold 135,689 shares of company stock worth $11,872,217 over the last quarter. 4.20% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Cambridge Investment Research Advisors Inc. boosted its position in shares of Arch Capital Group by 3.5% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 23,800 shares of the insurance provider’s stock valued at $1,152,000 after acquiring an additional 799 shares during the last quarter. HighTower Advisors LLC raised its stake in Arch Capital Group by 27.1% in the first quarter. HighTower Advisors LLC now owns 34,331 shares of the insurance provider’s stock valued at $1,662,000 after purchasing an additional 7,316 shares in the last quarter. Cetera Advisor Networks LLC raised its stake in Arch Capital Group by 33.0% in the first quarter. Cetera Advisor Networks LLC now owns 6,567 shares of the insurance provider’s stock valued at $318,000 after purchasing an additional 1,631 shares in the last quarter. Private Advisor Group LLC lifted its position in Arch Capital Group by 12.3% during the first quarter. Private Advisor Group LLC now owns 14,025 shares of the insurance provider’s stock valued at $679,000 after purchasing an additional 1,537 shares during the last quarter. Finally, Acadian Asset Management LLC purchased a new position in Arch Capital Group in the 1st quarter worth approximately $76,000. 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.