Arch Capital Group (NASDAQ:ACGL) Shares Gap Up on Analyst Upgrade

Arch Capital Group Ltd. (NASDAQ:ACGL)’s share price gapped up prior to trading on Thursday after JPMorgan Chase & Co. raised their price target on the stock from $108.00 to $110.00. The stock had previously closed at $113.09, but opened at $115.72. JPMorgan Chase & Co. currently has a neutral rating on the stock. Arch Capital Group shares last traded at $114.03, with a volume of 204,495 shares changing hands.

A number of other research analysts have also recently commented on ACGL. Royal Bank of Canada upped their price target on shares of Arch Capital Group from $108.00 to $112.00 and gave the stock an “outperform” rating in a report on Thursday, August 1st. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Arch Capital Group from $110.00 to $120.00 and gave the company a “buy” rating in a research note on Monday, July 1st. Evercore ISI increased their price objective on Arch Capital Group from $104.00 to $107.00 and gave the stock an “in-line” rating in a research note on Wednesday. Barclays assumed coverage on Arch Capital Group in a research report on Wednesday, September 4th. They set an “equal weight” rating and a $120.00 target price for the company. Finally, Bank of America increased their price target on Arch Capital Group from $119.00 to $135.00 and gave the stock a “buy” rating in a research report on Thursday. Five equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $118.87.

Insider Activity at Arch Capital Group

In other Arch Capital Group news, CFO Francois Morin sold 11,460 shares of Arch Capital Group stock in a transaction on Friday, August 16th. The shares were sold at an average price of $102.46, for a total value of $1,174,191.60. Following the transaction, the chief financial officer now directly owns 221,779 shares of the company’s stock, valued at approximately $22,723,476.34. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 4.20% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Arch Capital Group

Several institutional investors have recently added to or reduced their stakes in ACGL. Exchange Traded Concepts LLC purchased a new position in shares of Arch Capital Group in the 3rd quarter valued at approximately $912,000. Brown Miller Wealth Management LLC increased its stake in Arch Capital Group by 9.1% during the 3rd quarter. Brown Miller Wealth Management LLC now owns 12,615 shares of the insurance provider’s stock valued at $1,411,000 after purchasing an additional 1,055 shares in the last quarter. Fiduciary Financial Group LLC increased its stake in Arch Capital Group by 2.8% during the 3rd quarter. Fiduciary Financial Group LLC now owns 3,779 shares of the insurance provider’s stock valued at $415,000 after purchasing an additional 103 shares in the last quarter. Westwind Capital purchased a new position in shares of Arch Capital Group in the third quarter worth $9,981,000. Finally, Contravisory Investment Management Inc. lifted its stake in shares of Arch Capital Group by 3.2% during the third quarter. Contravisory Investment Management Inc. now owns 6,504 shares of the insurance provider’s stock worth $728,000 after buying an additional 204 shares during the period. Institutional investors and hedge funds own 89.07% of the company’s stock.

Arch Capital Group Stock Up 0.7 %

The company has a debt-to-equity ratio of 0.16, a current ratio of 0.60 and a quick ratio of 0.60. The business’s fifty day moving average price is $108.60 and its two-hundred day moving average price is $101.07. The stock has a market capitalization of $42.77 billion, a PE ratio of 8.99, a price-to-earnings-growth ratio of 2.06 and a beta of 0.59.

Arch Capital Group (NASDAQ:ACGL) last announced its quarterly earnings data on Tuesday, July 30th. The insurance provider reported $2.57 earnings per share for the quarter, beating analysts’ consensus estimates of $2.21 by $0.36. Arch Capital Group had a return on equity of 21.42% and a net margin of 35.19%. The business had revenue of $3.78 billion for the quarter, compared to analyst estimates of $3.89 billion. During the same period in the prior year, the company earned $1.92 earnings per share. The company’s revenue was up 10.3% on a year-over-year basis. On average, equities research analysts forecast that Arch Capital Group Ltd. will post 9.01 EPS for the current fiscal 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.