Evercore ISI Boosts Arch Capital Group (NASDAQ:ACGL) Price Target to $100.00

Arch Capital Group (NASDAQ:ACGL) had its target price upped by stock analysts at Evercore ISI from $98.00 to $100.00 in a research note issued on Tuesday, Benzinga reports. The firm presently has an “in-line” rating on the insurance provider’s stock. Evercore ISI’s price objective indicates a potential upside of 8.79% from the stock’s previous close.

A number of other research firms have also weighed in on ACGL. Wells Fargo & Company boosted 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, April 11th. JMP Securities reissued a “market outperform” rating and issued a $100.00 price target on shares of Arch Capital Group in a research note on Monday, April 15th. Citigroup dropped their price objective 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. Morgan Stanley raised their target price on shares of Arch Capital Group from $104.00 to $109.00 and gave the stock an “overweight” rating in a research report on Monday, April 15th. Finally, JPMorgan Chase & Co. upped their price target on shares of Arch Capital Group from $88.00 to $92.00 and gave the stock a “neutral” rating in a research report on Monday, April 8th. Five analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $97.21.

Arch Capital Group Price Performance

ACGL traded up $0.67 on Tuesday, hitting $91.92. 599,154 shares of the company were exchanged, compared to its average volume of 1,694,146. Arch Capital Group has a fifty-two week low of $69.05 and a fifty-two week high of $95.01. 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 firm has a market capitalization of $34.48 billion, a P/E ratio of 7.82, a price-to-earnings-growth ratio of 1.13 and a beta of 0.57. The business’s fifty day moving average is $90.44 and its 200 day moving average is $84.49.

Arch Capital Group (NASDAQ:ACGL) last announced its quarterly earnings results on Monday, April 29th. The insurance provider reported $2.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.06 by $0.39. Arch Capital Group had a net margin of 32.59% and a return on equity of 21.94%. The company had revenue of $4.09 billion for the quarter, compared to the consensus estimate of $3.77 billion. During the same quarter in the prior year, the firm earned $1.73 earnings per share. The company’s revenue for the quarter was up 19.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that Arch Capital Group will post 8.03 EPS for the current year.

Insider Activity

In other Arch Capital Group news, insider Nicolas Papadopoulo sold 60,000 shares of the company’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $87.52, for a total value of $5,251,200.00. Following the completion of the sale, the insider now directly owns 651,931 shares in the company, valued at $57,057,001.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Nicolas Papadopoulo sold 60,000 shares of the stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $87.52, for a total transaction of $5,251,200.00. Following the completion of the sale, the insider now owns 651,931 shares in the company, valued at approximately $57,057,001.12. The sale was disclosed in a legal filing 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 dated Thursday, March 7th. The shares were 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 of the company’s stock, valued at $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 three months. Corporate insiders own 4.00% of the company’s stock.

Institutional Trading of Arch Capital Group

Several hedge funds and other institutional investors have recently modified their holdings of ACGL. Davis Asset Management L.P. lifted its holdings in shares of Arch Capital Group by 441.7% during the 4th quarter. Davis Asset Management L.P. now owns 6,500,000 shares of the insurance provider’s stock valued at $482,755,000 after buying an additional 5,300,000 shares during the last quarter. Norges Bank acquired a new stake in Arch Capital Group in the fourth quarter valued at approximately $309,496,000. Envestnet Asset Management Inc. grew its position in Arch Capital Group by 112.4% in the third quarter. Envestnet Asset Management Inc. now owns 2,620,807 shares of the insurance provider’s stock worth $208,905,000 after acquiring an additional 1,387,072 shares in the last quarter. Hsbc Holdings PLC increased its stake in shares of Arch Capital Group by 597.9% during the 3rd quarter. Hsbc Holdings PLC now owns 1,419,944 shares of the insurance provider’s stock worth $113,516,000 after purchasing an additional 1,216,498 shares during the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its holdings in shares of Arch Capital Group by 61.6% during the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 3,191,282 shares of the insurance provider’s stock valued at $237,017,000 after purchasing an additional 1,216,080 shares in the last quarter. 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.