JMP Securities Increases Arch Capital Group (NASDAQ:ACGL) Price Target to $110.00

Arch Capital Group (NASDAQ:ACGL) had its price target upped by research analysts at JMP Securities from $100.00 to $110.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The firm presently has a “market outperform” rating on the insurance provider’s stock. JMP Securities’ price target would indicate a potential upside of 17.56% from the stock’s current price.

Several other research firms have also recently commented on ACGL. Wells Fargo & Company upped their target price on shares of Arch Capital Group from $104.00 to $109.00 and gave the company an “overweight” rating in a research note on Thursday, April 11th. JPMorgan Chase & Co. boosted their price target on shares of Arch Capital Group from $88.00 to $92.00 and gave the company a “neutral” rating in a report on Monday, April 8th. TD Cowen started coverage on shares of Arch Capital Group in a report on Wednesday, January 10th. They issued an “outperform” rating and a $96.00 price target on the stock. Evercore ISI boosted their price target on shares of Arch Capital Group from $98.00 to $100.00 and gave the company an “in-line” rating in a report on Tuesday. Finally, StockNews.com lowered shares of Arch Capital Group from a “buy” rating to a “hold” rating in a report on Monday, March 11th. Five analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $97.93.

Arch Capital Group Stock Up 2.5 %

NASDAQ ACGL traded up $2.32 during trading on Tuesday, reaching $93.57. The company’s stock had a trading volume of 1,091,289 shares, compared to its average volume of 1,700,051. 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 stock has a market capitalization of $35.10 billion, a PE ratio of 7.94, a PEG ratio of 1.13 and a beta of 0.57. The business has a 50-day moving average price of $90.44 and a 200-day moving average price of $84.49. 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 issued its quarterly earnings data on Tuesday, April 30th. The insurance provider reported $2.45 earnings per share for the quarter, topping analysts’ consensus estimates 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 business had revenue of $4.09 billion during the quarter, compared to analysts’ expectations of $3.77 billion. During the same period in the previous year, the company earned $1.73 earnings per share. Arch Capital Group’s revenue for the quarter was up 19.3% on a year-over-year basis. On average, research analysts forecast that Arch Capital Group will post 8.03 earnings per share for the current fiscal year.

Insider Buying and Selling at Arch Capital Group

In other Arch Capital Group news, insider Nicolas Papadopoulo sold 60,000 shares of the company’s 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 transaction, the insider now directly owns 651,931 shares in the company, valued at approximately $57,057,001.12. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related 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 sale, the insider now directly owns 651,931 shares in the company, valued at approximately $57,057,001.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Francois Morin sold 25,689 shares of the stock in a transaction that occurred on 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 completion of the sale, the chief financial officer now owns 221,779 shares in the company, valued at $19,399,009.13. The disclosure for this sale can be found here. In the last three months, insiders have sold 135,689 shares of company stock worth $11,872,217. Company insiders own 4.00% of the company’s stock.

Institutional Trading of Arch Capital Group

Several hedge funds have recently bought and sold shares of ACGL. Davis Asset Management L.P. raised its holdings in 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 worth $482,755,000 after buying an additional 5,300,000 shares during the period. Norges Bank bought a new position in shares of Arch Capital Group during the 4th quarter worth approximately $309,496,000. Envestnet Asset Management Inc. grew its stake in shares of Arch Capital Group by 112.4% during the 3rd 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 grew 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 acquiring an additional 1,216,498 shares in the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its stake 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 worth $237,017,000 after acquiring an additional 1,216,080 shares in the last quarter. 89.07% of the stock is currently owned by institutional investors and hedge funds.

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.