Arch Capital Group (NASDAQ:ACGL) Reaches New 52-Week High After Analyst Upgrade

Arch Capital Group Ltd. (NASDAQ:ACGL) hit a new 52-week high on Monday after Roth Mkm raised their price target on the stock from $110.00 to $125.00. Roth Mkm currently has a buy rating on the stock. Arch Capital Group traded as high as $109.64 and last traded at $108.98, with a volume of 61245 shares changing hands. The stock had previously closed at $109.02.

A number of other research analysts also recently weighed in on the company. JPMorgan Chase & Co. raised their price target on Arch Capital Group from $106.00 to $108.00 and gave the company a “neutral” rating in a research note on Wednesday, July 31st. Evercore ISI boosted their target price on shares of Arch Capital Group from $100.00 to $104.00 and gave the stock an “in-line” rating in a report on Wednesday, July 31st. Royal Bank of Canada increased their price target on shares of Arch Capital Group from $108.00 to $112.00 and gave the company an “outperform” rating in a research note on Thursday, August 1st. JMP Securities boosted their price objective on shares of Arch Capital Group from $110.00 to $115.00 and gave the stock a “market outperform” rating in a research note on Wednesday, July 31st. Finally, Keefe, Bruyette & Woods raised their target price on shares of Arch Capital Group from $120.00 to $121.00 and gave the company an “outperform” rating in a research note on Wednesday, August 7th. Five equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $106.50.

Insider Activity at Arch Capital Group

In other news, CFO Francois Morin sold 11,460 shares of Arch Capital Group stock in a transaction on Friday, August 16th. The stock was sold at an average price of $102.46, for a total transaction of $1,174,191.60. Following the completion of the sale, the chief financial officer now owns 221,779 shares of the company’s stock, valued at $22,723,476.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 4.20% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in ACGL. Vanguard Group Inc. grew its holdings in shares of Arch Capital Group by 0.3% during the 1st quarter. Vanguard Group Inc. now owns 40,858,890 shares of the insurance provider’s stock worth $3,776,996,000 after purchasing an additional 104,008 shares in the last quarter. Capital World Investors raised its position in shares of Arch Capital Group by 0.6% in the 4th quarter. Capital World Investors now owns 10,611,092 shares of the insurance provider’s stock valued at $788,086,000 after buying an additional 58,862 shares in the last quarter. Principal Financial Group Inc. boosted its position in shares of Arch Capital Group by 4.4% during the 2nd quarter. Principal Financial Group Inc. now owns 7,100,952 shares of the insurance provider’s stock worth $716,415,000 after acquiring an additional 300,716 shares in the last quarter. Davis Asset Management L.P. increased its stake in Arch Capital Group by 441.7% in the fourth quarter. Davis Asset Management L.P. now owns 6,500,000 shares of the insurance provider’s stock valued at $482,755,000 after acquiring an additional 5,300,000 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC raised its position in Arch Capital Group by 1.7% during the first quarter. Allspring Global Investments Holdings LLC now owns 5,907,122 shares of the insurance provider’s stock valued at $546,054,000 after purchasing an additional 99,329 shares in the last quarter. 89.07% of the stock is owned by institutional investors.

Arch Capital Group Stock Up 0.4 %

The firm has a 50 day simple moving average of $99.41 and a two-hundred day simple moving average of $95.58. The stock has a market capitalization of $41.11 billion, a P/E ratio of 8.64, a PEG ratio of 1.86 and a beta of 0.58. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 0.16.

Arch Capital Group (NASDAQ:ACGL) last released its earnings results on Tuesday, July 30th. The insurance provider reported $2.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.21 by $0.36. The firm had revenue of $3.78 billion for the quarter, compared to analysts’ expectations of $3.89 billion. Arch Capital Group had a return on equity of 21.42% and a net margin of 35.19%. The business’s revenue for the quarter was up 10.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.92 earnings per share. On average, equities research analysts expect that Arch Capital Group Ltd. will post 9 earnings per share for the current year.

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.