Arch Capital Group (NASDAQ:ACGL) Price Target Raised to $104.00

Arch Capital Group (NASDAQ:ACGL) had its price target raised by BMO Capital Markets from $98.00 to $104.00 in a report published on Wednesday morning,Benzinga reports. BMO Capital Markets currently has a market perform rating on the insurance provider’s stock.

Other equities research analysts also recently issued research reports about the stock. Barclays began coverage on shares of Arch Capital Group in a research note on Wednesday, September 4th. They issued an “equal weight” rating and a $120.00 price objective on the stock. Citigroup boosted their price objective on shares of Arch Capital Group from $105.00 to $114.00 and gave the stock a “neutral” rating in a report on Tuesday, September 10th. StockNews.com cut shares of Arch Capital Group from a “buy” rating to a “hold” rating in a research note on Thursday, October 24th. Keefe, Bruyette & Woods lifted their target price on Arch Capital Group from $120.00 to $121.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 7th. Finally, Bank of America upped their price target on Arch Capital Group from $119.00 to $135.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Six 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, Arch Capital Group has an average rating of “Moderate Buy” and an average price target of $118.88.

Arch Capital Group Price Performance

NASDAQ ACGL opened at $101.85 on Wednesday. Arch Capital Group has a 1 year low of $72.85 and a 1 year high of $116.47. The company has a fifty day simple moving average of $109.19 and a 200 day simple moving average of $102.95. The company has a current ratio of 0.58, a quick ratio of 0.60 and a debt-to-equity ratio of 0.17. The company has a market cap of $38.30 billion, a P/E ratio of 6.84, a P/E/G ratio of 1.47 and a beta of 0.61.

Arch Capital Group (NASDAQ:ACGL) last issued its quarterly earnings results on Wednesday, October 30th. The insurance provider reported $1.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.94 by $0.05. Arch Capital Group had a return on equity of 18.94% and a net margin of 33.86%. The company had revenue of $4.72 billion for the quarter, compared to the consensus estimate of $4.05 billion. During the same period last year, the business posted $2.31 earnings per share. On average, sell-side analysts predict that Arch Capital Group will post 9 EPS for the current year.

Arch Capital Group Dividend Announcement

The business also recently declared a special dividend, which will be paid on Wednesday, December 4th. Shareholders of record on Monday, November 18th will be given a $5.00 dividend.

Insider Buying and Selling at Arch Capital Group

In other Arch Capital Group news, CFO Francois Morin sold 11,460 shares of the company’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $102.46, for a total transaction of $1,174,191.60. Following the sale, the chief financial officer now directly owns 221,779 shares of the company’s stock, valued at approximately $22,723,476.34. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 4.20% of the company’s stock.

Hedge Funds Weigh In On Arch Capital Group

Institutional investors have recently bought and sold shares of the business. UMB Bank n.a. bought a new position in Arch Capital Group in the 2nd quarter worth approximately $30,000. Baldwin Brothers LLC MA raised its stake in shares of Arch Capital Group by 50.7% during the second quarter. Baldwin Brothers LLC MA now owns 309 shares of the insurance provider’s stock worth $31,000 after buying an additional 104 shares during the last quarter. Rothschild Investment LLC bought a new stake in shares of Arch Capital Group during the second quarter worth approximately $35,000. LRI Investments LLC acquired a new position in Arch Capital Group in the first quarter valued at approximately $38,000. Finally, Versant Capital Management Inc boosted its stake in Arch Capital Group by 40.3% in the second quarter. Versant Capital Management Inc now owns 456 shares of the insurance provider’s stock valued at $46,000 after acquiring an additional 131 shares during the last quarter. Institutional investors own 89.07% of the company’s stock.

Arch Capital Group Company Profile

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.