Arch Capital Group (NASDAQ:ACGL) Reaches New 1-Year High at $114.69

Arch Capital Group Ltd. (NASDAQ:ACGL) hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $114.69 and last traded at $113.91, with a volume of 24934 shares changing hands. The stock had previously closed at $114.22.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on ACGL shares. 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 research note on Wednesday, July 31st. Keefe, Bruyette & Woods increased their target price on Arch Capital Group from $120.00 to $121.00 and gave the company an “outperform” rating in a report on Wednesday, August 7th. StockNews.com lowered Arch Capital Group from a “buy” rating to a “hold” rating in a research note on Wednesday, July 31st. Deutsche Bank Aktiengesellschaft increased their price objective on Arch Capital Group from $110.00 to $120.00 and gave the company a “buy” rating in a research note on Monday, July 1st. Finally, Barclays began coverage on Arch Capital Group in a report on Wednesday, September 4th. They issued an “equal weight” rating and a $120.00 price objective on the stock. Five investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, Arch Capital Group has a consensus rating of “Moderate Buy” and a consensus price target of $110.93.

Arch Capital Group Trading Down 0.8 %

The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 0.16. The company’s 50-day moving average is $103.22 and its 200-day moving average is $98.52. The stock has a market capitalization of $42.51 billion, a price-to-earnings ratio of 8.92, a PEG ratio of 2.00 and a beta of 0.60.

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

Insider Activity

In related news, CFO Francois Morin sold 11,460 shares of the firm’s stock in a transaction dated 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 directly owns 221,779 shares of the company’s stock, valued at approximately $22,723,476.34. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 4.20% of the company’s stock.

Hedge Funds Weigh In On Arch Capital Group

A number of hedge funds have recently made changes to their positions in the stock. Capital International Investors lifted its stake in Arch Capital Group by 61.1% during the first quarter. Capital International Investors now owns 4,112,577 shares of the insurance provider’s stock worth $380,167,000 after purchasing an additional 1,560,173 shares in the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its holdings in shares of Arch Capital Group by 61.6% in the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 3,191,282 shares of the insurance provider’s stock valued at $237,017,000 after buying an additional 1,216,080 shares during the period. Principal Financial Group Inc. lifted its stake in Arch Capital Group by 11.4% during the 1st quarter. Principal Financial Group Inc. now owns 6,800,236 shares of the insurance provider’s stock worth $628,614,000 after acquiring an additional 693,608 shares in the last quarter. Gladstone Capital Management LLP boosted its holdings in Arch Capital Group by 52.8% during the 4th quarter. Gladstone Capital Management LLP now owns 1,385,307 shares of the insurance provider’s stock valued at $102,887,000 after acquiring an additional 478,570 shares during the period. Finally, Brandes Investment Partners LP acquired a new position in Arch Capital Group in the 2nd quarter valued at about $48,119,000. Hedge funds and other 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.