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

Arch Capital Group (NASDAQ:ACGL) had its price target lifted by equities researchers at Bank of America from $105.00 to $109.00 in a note issued to investors on Tuesday, Benzinga reports. The firm presently has a “buy” rating on the insurance provider’s stock. Bank of America‘s price objective indicates a potential upside of 16.52% from the stock’s current price.

Several other brokerages have also recently issued reports on ACGL. Citigroup reduced their price objective on Arch Capital Group from $91.00 to $89.00 and set a “neutral” rating on the stock in a research note on Monday, January 22nd. Wells Fargo & Company upped 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 note on Thursday, April 11th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Arch Capital Group from $103.00 to $110.00 and gave the stock a “buy” rating in a report on Tuesday. Roth Mkm restated a “buy” rating and issued a $110.00 price objective on shares of Arch Capital Group in a report on Tuesday. Finally, UBS Group lowered their target price 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. Five research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, Arch Capital Group currently has an average rating of “Moderate Buy” and an average price target of $100.60.

Arch Capital Group Trading Up 2.5 %

Shares of ACGL stock traded up $2.30 on Tuesday, hitting $93.55. The stock had a trading volume of 1,294,499 shares, compared to its average volume of 1,703,783. The company’s 50 day moving average price is $90.44 and its 200-day moving average price is $84.49. Arch Capital Group has a 1 year low of $69.05 and a 1 year high of $95.01. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.57 and a quick ratio of 0.57. The firm has a market capitalization of $35.09 billion, a P/E ratio of 8.07, a P/E/G ratio of 1.13 and a beta of 0.57.

Arch Capital Group (NASDAQ:ACGL) last posted its quarterly earnings data on Tuesday, April 30th. The insurance provider reported $2.45 EPS for the quarter, beating the consensus estimate of $2.06 by $0.39. The business had revenue of $4.09 billion during the quarter, compared to analyst estimates of $3.77 billion. Arch Capital Group had a net margin of 32.59% and a return on equity of 21.94%. The business’s revenue for the quarter was up 19.3% compared to the same quarter last year. During the same quarter last year, the firm posted $1.73 earnings per share. Analysts anticipate that Arch Capital Group will post 8.03 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Nicolas Papadopoulo sold 60,000 shares of the stock in a transaction 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 sale, the insider now owns 651,931 shares of the company’s stock, 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. In other Arch Capital Group news, insider Nicolas Papadopoulo sold 60,000 shares of the 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 sale, the insider now owns 651,931 shares of the company’s stock, valued at $57,057,001.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Francois Morin sold 25,689 shares of Arch Capital Group stock in a transaction 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 have sold 135,689 shares of company stock valued at $11,872,217 in the last ninety days. Insiders own 4.00% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the company. Householder Group Estate & Retirement Specialist LLC bought a new position in Arch Capital Group during the fourth quarter worth $27,000. Larson Financial Group LLC acquired a new stake in shares of Arch Capital Group during the 4th quarter worth approximately $30,000. Richardson Financial Services Inc. bought a new stake in shares of Arch Capital Group in the 4th quarter worth approximately $33,000. CVA Family Office LLC bought a new position in Arch Capital Group during the 4th quarter worth $47,000. Finally, Indiana Trust & Investment Management CO acquired a new stake in Arch Capital Group in the first quarter worth $58,000. Institutional investors own 89.07% of the company’s stock.

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.