Arch Capital Group (NASDAQ:ACGL) Given New $109.00 Price Target at Bank of America

Arch Capital Group (NASDAQ:ACGL) had its price target increased by Bank of America from $105.00 to $109.00 in a report released on Tuesday, Benzinga reports. They currently have a buy rating on the insurance provider’s stock.

Other analysts also recently issued research reports about the stock. UBS Group decreased their price objective on shares of Arch Capital Group from $101.00 to $97.00 and set a buy rating for the company in a research note on Wednesday, January 10th. Deutsche Bank Aktiengesellschaft boosted their price objective on Arch Capital Group from $103.00 to $110.00 and gave the company a buy rating in a report on Tuesday. JPMorgan Chase & Co. increased their target price on Arch Capital Group from $88.00 to $92.00 and gave the stock a neutral rating in a research note on Monday, April 8th. Roth Mkm reissued a buy rating and set a $110.00 target price on shares of Arch Capital Group in a research note on Tuesday. Finally, Wells Fargo & Company upped their price target on shares of Arch Capital Group from $104.00 to $109.00 and gave the stock an overweight rating in a report on Thursday, April 11th. Four equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of Moderate Buy and an average target price of $100.67.

Arch Capital Group Price Performance

NASDAQ:ACGL opened at $94.41 on Tuesday. The firm has a market capitalization of $35.42 billion, a price-to-earnings ratio of 7.45, a PEG ratio of 1.14 and a beta of 0.57. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.59 and a quick ratio of 0.57. The business has a 50 day simple moving average of $91.01 and a 200-day simple moving average of $84.71. Arch Capital Group has a 1 year low of $69.05 and a 1 year high of $96.58.

Arch Capital Group (NASDAQ:ACGL) last posted its quarterly earnings data on Monday, April 29th. The insurance provider reported $2.45 earnings per share for the quarter, beating analysts’ consensus estimates of $2.06 by $0.39. The business had revenue of $4.09 billion for the quarter, compared to analysts’ expectations of $3.77 billion. Arch Capital Group had a net margin of 33.65% and a return on equity of 21.85%. The business’s revenue was up 19.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.73 earnings per share. Equities analysts forecast that Arch Capital Group will post 8.4 EPS for the current year.

Insider Transactions at Arch Capital Group

In other Arch Capital Group news, CEO Maamoun Rajeh sold 50,000 shares of Arch Capital Group stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $87.48, for a total value 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Maamoun Rajeh sold 50,000 shares of the company’s 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 owns 336,170 shares in the company, valued at $29,408,151.60. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Nicolas Papadopoulo sold 60,000 shares of Arch Capital Group stock in a transaction that occurred 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 of the company’s stock, valued at $57,057,001.12. The disclosure for this sale can be found here. Insiders have sold a total of 135,689 shares of company stock valued at $11,872,217 in the last 90 days. Insiders own 4.20% of the company’s stock.

Institutional Trading of Arch Capital Group

Several large investors have recently made changes to their positions in ACGL. Assenagon Asset Management S.A. increased its holdings in shares of Arch Capital Group by 0.4% during the 1st quarter. Assenagon Asset Management S.A. now owns 33,283 shares of the insurance provider’s stock valued at $3,077,000 after purchasing an additional 117 shares in the last quarter. Sunbelt Securities Inc. raised its holdings in Arch Capital Group by 1.8% in the 1st quarter. Sunbelt Securities Inc. now owns 6,679 shares of the insurance provider’s stock worth $617,000 after purchasing an additional 117 shares during the period. Resonant Capital Advisors LLC boosted its position in Arch Capital Group by 2.1% during the first quarter. Resonant Capital Advisors LLC now owns 5,802 shares of the insurance provider’s stock worth $536,000 after purchasing an additional 118 shares in the last quarter. Petra Financial Advisors Inc. grew its holdings in Arch Capital Group by 1.2% in the first quarter. Petra Financial Advisors Inc. now owns 10,574 shares of the insurance provider’s stock valued at $977,000 after purchasing an additional 129 shares during the period. Finally, Harbor Capital Advisors Inc. lifted its position in shares of Arch Capital Group by 2.7% during the 4th 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 in the last quarter. 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.