Arch Capital Group (NASDAQ:ACGL) Given New $110.00 Price Target at Wells Fargo & Company

Arch Capital Group (NASDAQ:ACGL) had its target price hoisted by Wells Fargo & Company from $108.00 to $110.00 in a research report sent to investors on Thursday morning,Benzinga reports. The firm currently has an overweight rating on the insurance provider’s stock.

Other analysts have also recently issued reports about the company. Jefferies Financial Group cut Arch Capital Group from a “buy” rating to a “hold” rating and dropped their price target for the stock from $106.00 to $100.00 in a research report on Tuesday, June 10th. Morgan Stanley set a $110.00 price target on Arch Capital Group and gave the stock an “overweight” rating in a research report on Monday, May 19th. UBS Group boosted their price target on Arch Capital Group to $124.00 and gave the stock a “buy” rating in a research report on Thursday, June 12th. JPMorgan Chase & Co. boosted their price target on Arch Capital Group from $106.00 to $107.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 8th. Finally, Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $101.00 price target (down from $113.00) on shares of Arch Capital Group in a research report on Wednesday. Eight investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, Arch Capital Group has a consensus rating of “Moderate Buy” and a consensus price target of $113.60.

Arch Capital Group Stock Up 0.7%

ACGL stock opened at $88.56 on Thursday. Arch Capital Group has a fifty-two week low of $82.49 and a fifty-two week high of $116.47. The business’s 50 day moving average price is $92.05 and its two-hundred day moving average price is $92.06. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.56 and a current ratio of 0.56. The company has a market capitalization of $33.19 billion, a price-to-earnings ratio of 9.07, a price-to-earnings-growth ratio of 6.08 and a beta of 0.51.

Arch Capital Group (NASDAQ:ACGL) last issued its quarterly earnings results on Tuesday, April 29th. The insurance provider reported $1.54 EPS for the quarter, missing analysts’ consensus estimates of $1.59 by ($0.05). Arch Capital Group had a return on equity of 15.79% and a net margin of 20.72%. The company had revenue of $4.52 billion during the quarter, compared to the consensus estimate of $4.75 billion. During the same period in the prior year, the firm earned $2.45 earnings per share. The business’s revenue for the quarter was up 10.5% compared to the same quarter last year. As a group, analysts forecast that Arch Capital Group will post 8.42 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Louis T. Petrillo sold 16,650 shares of the stock in a transaction on Friday, May 9th. The stock was sold at an average price of $94.53, for a total transaction of $1,573,924.50. Following the transaction, the insider directly owned 140,023 shares of the company’s stock, valued at $13,236,374.19. This represents a 10.63% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider John M. Pasquesi sold 75,060 shares of the stock in a transaction on Monday, May 12th. The shares were sold at an average price of $94.01, for a total value of $7,056,390.60. Following the transaction, the insider directly owned 579,218 shares in the company, valued at $54,452,284.18. The trade was a 11.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 111,976 shares of company stock valued at $10,531,038. Insiders own 4.20% of the company’s stock.

Hedge Funds Weigh In On Arch Capital Group

Several hedge funds and other institutional investors have recently modified their holdings of ACGL. Proficio Capital Partners LLC bought a new position in shares of Arch Capital Group during the 4th quarter valued at $92,000. Jones Financial Companies Lllp lifted its holdings in shares of Arch Capital Group by 105.8% during the 4th quarter. Jones Financial Companies Lllp now owns 1,953 shares of the insurance provider’s stock valued at $180,000 after buying an additional 1,004 shares during the period. Raymond James Financial Inc. bought a new position in shares of Arch Capital Group during the 4th quarter valued at $41,876,000. Larson Financial Group LLC lifted its holdings in shares of Arch Capital Group by 47.0% during the 4th quarter. Larson Financial Group LLC now owns 910 shares of the insurance provider’s stock valued at $84,000 after buying an additional 291 shares during the period. Finally, Daiwa Securities Group Inc. lifted its holdings in shares of Arch Capital Group by 8.0% during the 4th quarter. Daiwa Securities Group Inc. now owns 49,387 shares of the insurance provider’s stock valued at $4,561,000 after buying an additional 3,649 shares during the period. 89.07% of the stock is owned by institutional investors.

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.