Barclays Boosts Arch Capital Group (NASDAQ:ACGL) Price Target to $106.00

Arch Capital Group (NASDAQ:ACGL) had its price objective lifted by analysts at Barclays from $104.00 to $106.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm presently has an “equal weight” rating on the insurance provider’s stock. Barclays‘s price target would suggest a potential upside of 8.05% from the company’s current price.

Several other equities analysts have also weighed in on the stock. Cantor Fitzgerald restated a “neutral” rating and set a $100.00 price target (up from $97.00) on shares of Arch Capital Group in a research report on Tuesday, February 17th. Weiss Ratings upgraded Arch Capital Group from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, February 4th. JPMorgan Chase & Co. increased their price target on Arch Capital Group from $111.00 to $117.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 7th. Evercore set a $100.00 price objective on Arch Capital Group and gave the stock an “in-line” rating in a report on Wednesday, January 7th. Finally, Keefe, Bruyette & Woods boosted their price objective on Arch Capital Group from $104.00 to $105.00 and gave the company a “market perform” rating in a research note on Tuesday. Nine analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $109.40.

Arch Capital Group Stock Performance

ACGL traded up $1.18 during trading on Wednesday, hitting $98.10. 295,906 shares of the company traded hands, compared to its average volume of 1,979,360. The firm has a market cap of $34.95 billion, a P/E ratio of 8.44, a price-to-earnings-growth ratio of 3.94 and a beta of 0.41. The stock’s fifty day moving average is $96.78 and its 200 day moving average is $93.52. The company has a quick ratio of 0.53, a current ratio of 0.53 and a debt-to-equity ratio of 0.13. Arch Capital Group has a one year low of $82.44 and a one year high of $103.39.

Arch Capital Group (NASDAQ:ACGL) last posted its quarterly earnings results on Monday, February 9th. The insurance provider reported $2.98 earnings per share for the quarter, beating the consensus estimate of $2.34 by $0.64. The company had revenue of $4.93 billion during the quarter, compared to analyst estimates of $3.94 billion. Arch Capital Group had a net margin of 22.07% and a return on equity of 16.73%. During the same quarter in the prior year, the business earned $2.26 earnings per share. As a group, equities analysts predict that Arch Capital Group will post 8.42 EPS for the current fiscal year.

Insider Buying and Selling at Arch Capital Group

In other news, CEO Nicolas Papadopoulo sold 21,930 shares of Arch Capital Group stock in a transaction on Tuesday, March 10th. The stock was sold at an average price of $96.31, for a total value of $2,112,078.30. Following the completion of the transaction, the chief executive officer directly owned 871,594 shares in the company, valued at approximately $83,943,218.14. The trade was a 2.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider David Gansberg sold 5,907 shares of the business’s stock in a transaction on Tuesday, March 10th. The shares were sold at an average price of $96.37, for a total value of $569,257.59. Following the sale, the insider owned 336,559 shares in the company, valued at approximately $32,434,190.83. The trade was a 1.72% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 78,267 shares of company stock worth $7,291,637. 4.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Elyxium Wealth LLC purchased a new stake in shares of Arch Capital Group in the fourth quarter worth about $27,000. WealthCollab LLC grew its stake in Arch Capital Group by 410.3% during the third quarter. WealthCollab LLC now owns 296 shares of the insurance provider’s stock valued at $27,000 after acquiring an additional 238 shares in the last quarter. JPL Wealth Management LLC bought a new stake in Arch Capital Group during the 3rd quarter worth approximately $28,000. Grove Bank & Trust bought a new stake in Arch Capital Group during the 4th quarter worth approximately $30,000. Finally, Aventura Private Wealth LLC purchased a new stake in Arch Capital Group in the 4th quarter worth approximately $30,000. Institutional investors own 89.07% of the company’s stock.

About Arch Capital Group

Arch Capital Group Ltd. (NASDAQ: ACGL) is a Bermuda-based insurance and reinsurance holding company that underwrites a broad range of property and casualty, mortgage, and specialty risk products. The company operates through a group of underwriting subsidiaries and platforms to provide insurance, reinsurance and related risk solutions tailored to commercial, institutional and individual clients.

Arch’s product mix includes treaty and facultative reinsurance, primary casualty and property insurance, mortgage insurance and other specialty lines.