Arch Capital Group (NASDAQ:ACGL) Stock Gets Price Target Increase from Wells Fargo & Company

Arch Capital Group (NASDAQ:ACGL) had its target price upped by analysts at Wells Fargo & Company from $107.00 to $119.00 in a research report issued on Monday, Benzinga reports. The brokerage currently has an “overweight” rating on the insurance provider’s stock. Wells Fargo & Company‘s price target points to a potential upside of 11.88% from the company’s current price.

Other equities analysts also recently issued research reports about the company. BMO Capital Markets boosted their target price on Arch Capital Group from $95.00 to $102.00 in a research report on Wednesday, August 5th. Bank of America raised their price target on Arch Capital Group from $129.00 to $131.00 and gave the stock a “buy” rating in a research report on Monday, October 12th. Morgan Stanley set a $103.00 price objective on shares of Arch Capital Group and gave the stock an “equal weight” rating in a research note on Thursday. Citigroup boosted their price objective on shares of Arch Capital Group from $122.50 to $125.00 and gave the company a “buy” rating in a research report on Thursday. Finally, Jefferies Financial Group upped their price target on shares of Arch Capital Group from $102.00 to $106.00 and gave the company a “hold” rating in a report on Thursday. Seven analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $111.00.

Arch Capital Group Price Performance

ACGL opened at $106.36 on Monday. The stock has a market cap of $36.29 billion, a price-to-earnings ratio of 8.70, a price-to-earnings-growth ratio of 3.54 and a beta of 0.22. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.57 and a current ratio of 0.56. The firm’s fifty day moving average is $97.94 and its 200 day moving average is $96.77. Arch Capital Group has a fifty-two week low of $84.69 and a fifty-two week high of $107.08.

Arch Capital Group (NASDAQ:ACGL) last issued its quarterly earnings results on Tuesday, October 27th. The insurance provider reported $2.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.31 by $0.36. Arch Capital Group had a return on equity of 16.62% and a net margin of 23.31%. The business had revenue of $4.66 billion during the quarter, compared to analyst estimates of $4.06 billion. During the same quarter in the prior year, the business posted $2.77 EPS. On average, sell-side analysts forecast that Arch Capital Group will post 10.02 earnings per share for the current fiscal year.

Insider Activity

In other news, CFO Francois Morin sold 11,010 shares of the stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $99.32, for a total transaction of $1,093,513.20. Following the transaction, the chief financial officer owned 184,826 shares of the company’s stock, valued at approximately $18,356,918.32. This represents a 5.62% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 3.30% of the company’s stock.

Institutional Trading of Arch Capital Group

A number of hedge funds have recently added to or reduced their stakes in ACGL. Assenagon Asset Management S.A. raised its holdings in Arch Capital Group by 295.6% in the 2nd quarter. Assenagon Asset Management S.A. now owns 50,073 shares of the insurance provider’s stock worth $4,860,000 after purchasing an additional 37,416 shares during the period. Sequoia Financial Advisors LLC grew its holdings in Arch Capital Group by 29.7% in the second quarter. Sequoia Financial Advisors LLC now owns 46,100 shares of the insurance provider’s stock valued at $4,474,000 after purchasing an additional 10,562 shares during the period. Weiss Asset Management LP increased its position in shares of Arch Capital Group by 88.5% in the first quarter. Weiss Asset Management LP now owns 42,300 shares of the insurance provider’s stock valued at $4,060,000 after buying an additional 19,860 shares in the last quarter. Triad Investment Management purchased a new stake in shares of Arch Capital Group in the second quarter valued at approximately $2,030,000. Finally, WINTON GROUP Ltd purchased a new stake in shares of Arch Capital Group in the second quarter valued at approximately $4,625,000. 89.07% of the stock is owned by hedge funds and other institutional investors.

Arch Capital Group Company Profile

Arch Capital Group Ltd. is a Bermuda-based insurance, reinsurance and mortgage insurance company whose shares trade on the Nasdaq under the symbol ACGL. The company was established in 1995 and has developed into a global provider of specialty risk-management products and services.

Through its insurance operations, Arch offers property, casualty, specialty, and accident and health coverage to businesses and other policyholders. Its reinsurance operations provide coverage and risk-transfer solutions to insurance companies across a range of property and casualty lines.