Evercore ISI Raises Arch Capital Group (NASDAQ:ACGL) Price Target to $104.00

Arch Capital Group (NASDAQ:ACGL) had its price target upped by Evercore ISI from $100.00 to $104.00 in a report published on Wednesday, Benzinga reports. The firm currently has an in-line rating on the insurance provider’s stock.

A number of other analysts have also issued reports on the company. StockNews.com raised Arch Capital Group from a hold rating to a buy rating in a report on Thursday, July 4th. Morgan Stanley raised their price objective on shares of Arch Capital Group from $104.00 to $109.00 and gave the stock an overweight rating in a research note on Monday, April 15th. JPMorgan Chase & Co. upped their target price on shares of Arch Capital Group from $106.00 to $108.00 and gave the company a neutral rating in a research note on Wednesday. Roth Mkm restated a buy rating and issued a $110.00 price target on shares of Arch Capital Group in a research report on Tuesday, April 30th. Finally, Wells Fargo & Company boosted their price objective on shares of Arch Capital Group from $109.00 to $110.00 and gave the stock an overweight rating in a report on Wednesday, May 1st. Five investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, Arch Capital Group currently has a consensus rating of Moderate Buy and a consensus price target of $104.53.

Arch Capital Group Stock Up 1.6 %

ACGL opened at $98.67 on Wednesday. Arch Capital Group has a twelve month low of $72.85 and a twelve month high of $103.79. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.59 and a current ratio of 0.59. The business has a 50 day moving average price of $99.13 and a 200 day moving average price of $93.12. The firm has a market cap of $37.05 billion, a P/E ratio of 7.79, a price-to-earnings-growth ratio of 1.60 and a beta of 0.58.

Arch Capital Group (NASDAQ:ACGL) last posted its earnings results on Tuesday, July 30th. The insurance provider reported $2.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.21 by $0.36. The business had revenue of $3.78 billion for the quarter, compared to analyst estimates of $3.89 billion. Arch Capital Group had a net margin of 35.19% and a return on equity of 22.39%. Arch Capital Group’s revenue was up 10.3% compared to the same quarter last year. During the same period last year, the business posted $1.92 EPS. Research analysts forecast that Arch Capital Group will post 8.58 EPS for the current year.

Insider Activity

In other news, CEO David Gansberg sold 10,000 shares of the company’s stock in a transaction on Monday, May 6th. The stock was sold at an average price of $96.64, for a total transaction of $966,400.00. Following the transaction, the chief executive officer now owns 228,035 shares of the company’s stock, valued at $22,037,302.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 4.20% of the company’s stock.

Hedge Funds Weigh In On Arch Capital Group

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. lifted its stake in shares of Arch Capital Group by 0.3% in the 1st quarter. Vanguard Group Inc. now owns 40,858,890 shares of the insurance provider’s stock valued at $3,776,996,000 after purchasing an additional 104,008 shares during the period. Capital World Investors lifted its stake in Arch Capital Group by 0.6% in the fourth quarter. Capital World Investors now owns 10,611,092 shares of the insurance provider’s stock valued at $788,086,000 after buying an additional 58,862 shares during the period. Principal Financial Group Inc. boosted its holdings in Arch Capital Group by 4.4% during the second quarter. Principal Financial Group Inc. now owns 7,100,952 shares of the insurance provider’s stock worth $716,415,000 after buying an additional 300,716 shares during the last quarter. Davis Asset Management L.P. boosted its holdings in Arch Capital Group by 441.7% during the fourth quarter. Davis Asset Management L.P. now owns 6,500,000 shares of the insurance provider’s stock worth $482,755,000 after buying an additional 5,300,000 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC grew its position in shares of Arch Capital Group by 1.7% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 5,907,122 shares of the insurance provider’s stock worth $546,054,000 after buying an additional 99,329 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.