Arch Capital Group (NASDAQ:ACGL) Price Target Increased to $109.00 by Analysts at Morgan Stanley

Arch Capital Group (NASDAQ:ACGL) had its price objective upped by equities researchers at Morgan Stanley from $104.00 to $109.00 in a research report issued on Monday, Benzinga reports. The firm currently has an “overweight” rating on the insurance provider’s stock. Morgan Stanley’s target price would suggest a potential upside of 20.15% from the stock’s previous close.

Several other research firms have also recently issued reports on ACGL. JPMorgan Chase & Co. increased their target price on shares of Arch Capital Group from $88.00 to $92.00 and gave the stock a “neutral” rating in a research note on Monday, April 8th. TD Cowen started coverage on shares of Arch Capital Group in a research report on Wednesday, January 10th. They set an “outperform” rating and a $96.00 price objective on the stock. Evercore ISI raised their price objective on shares of Arch Capital Group from $92.00 to $100.00 and gave the company an “in-line” rating in a research report on Thursday. Wells Fargo & Company raised their price objective on shares of Arch Capital Group from $104.00 to $109.00 and gave the company an “overweight” rating in a research report on Thursday. Finally, Royal Bank of Canada restated an “outperform” rating and set a $98.00 price objective on shares of Arch Capital Group in a research report on Friday, February 16th. Five equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $96.23.

Arch Capital Group Stock Performance

Shares of ACGL stock traded up $0.74 during trading on Monday, reaching $90.72. 546,235 shares of the company’s stock traded hands, compared to its average volume of 1,719,780. The company has a market capitalization of $34.03 billion, a P/E ratio of 7.81, a PEG ratio of 1.12 and a beta of 0.57. The company has a current ratio of 0.57, a quick ratio of 0.57 and a debt-to-equity ratio of 0.17. The firm’s 50-day moving average is $88.79 and its 200 day moving average is $83.65. Arch Capital Group has a 1 year low of $69.05 and a 1 year 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 (EPS) for the quarter, topping the consensus estimate of $1.94 by $0.55. Arch Capital Group had a net margin of 32.59% and a return on equity of 21.94%. The business had revenue of $3.98 billion for the quarter, compared to analysts’ expectations of $3.67 billion. During the same period in the prior year, the company posted $2.14 EPS. Equities research analysts expect that Arch Capital Group will post 8.02 EPS for the current year.

Insider Activity

In other news, CEO Maamoun Rajeh sold 50,000 shares of Arch Capital Group stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $87.48, for a total transaction of $4,374,000.00. Following the sale, the chief executive officer now owns 336,170 shares of the company’s stock, valued at approximately $29,408,151.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Nicolas Papadopoulo sold 60,000 shares of Arch Capital Group stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $87.52, for a total transaction of $5,251,200.00. Following the completion of the transaction, the insider now directly owns 651,931 shares of the company’s stock, valued at approximately $57,057,001.12. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Maamoun Rajeh sold 50,000 shares of Arch Capital Group stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $87.48, for a total transaction of $4,374,000.00. Following the transaction, the chief executive officer now directly owns 336,170 shares of the company’s stock, valued at $29,408,151.60. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 135,689 shares of company stock valued at $11,872,217. Corporate insiders own 4.00% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Balentine LLC raised its holdings in Arch Capital Group by 2.6% in the second quarter. Balentine LLC now owns 5,298 shares of the insurance provider’s stock worth $397,000 after buying an additional 133 shares during the last quarter. Harbor Capital Advisors Inc. grew its position in Arch Capital Group by 2.7% during the fourth quarter. Harbor Capital Advisors Inc. now owns 5,448 shares of the insurance provider’s stock valued at $405,000 after buying an additional 144 shares during the period. Signaturefd LLC grew its position in Arch Capital Group by 6.8% during the third quarter. Signaturefd LLC now owns 2,292 shares of the insurance provider’s stock valued at $183,000 after buying an additional 146 shares during the period. SRS Capital Advisors Inc. boosted its position in shares of Arch Capital Group by 15.2% in the third quarter. SRS Capital Advisors Inc. now owns 1,107 shares of the insurance provider’s stock worth $88,000 after purchasing an additional 146 shares during the period. Finally, Chase Investment Counsel Corp boosted its position in shares of Arch Capital Group by 0.4% in the fourth quarter. Chase Investment Counsel Corp now owns 39,656 shares of the insurance provider’s stock worth $2,945,000 after purchasing an additional 148 shares during the period. 89.07% of the stock is owned by hedge funds and other 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.