Cantor Fitzgerald Issues Positive Forecast for Arch Capital Group (NASDAQ:ACGL) Stock Price

Arch Capital Group (NASDAQ:ACGL) had its target price increased by analysts at Cantor Fitzgerald from $102.00 to $110.00 in a report issued on Monday,Benzinga reports. The firm presently has a “neutral” rating on the insurance provider’s stock. Cantor Fitzgerald’s price objective would indicate a potential upside of 9.42% from the company’s previous close.

Other equities analysts have also recently issued reports about the company. Weiss Ratings cut Arch Capital Group from a “buy (b)” rating to a “buy (b-)” rating in a research note on Monday, May 18th. Atlantic Securities set a $126.00 price target on Arch Capital Group in a research note on Wednesday, July 15th. Wells Fargo & Company raised their price objective on shares of Arch Capital Group from $114.00 to $117.00 and gave the company an “overweight” rating in a research note on Thursday. Mizuho upped their price target on Arch Capital Group from $101.00 to $104.00 and gave the company a “neutral” rating in a report on Thursday, July 9th. Finally, UBS Group reiterated a “buy” rating and set a $120.00 target price (up from $114.00) on shares of Arch Capital Group in a research note on Wednesday, July 8th. Eight investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Arch Capital Group has an average rating of “Hold” and a consensus target price of $110.96.

Arch Capital Group Price Performance

Shares of NASDAQ:ACGL opened at $100.53 on Monday. The stock’s 50-day moving average price is $96.51 and its 200-day moving average price is $96.12. The company has a current ratio of 0.57, a quick ratio of 0.55 and a debt-to-equity ratio of 0.23. Arch Capital Group has a 12-month low of $82.44 and a 12-month high of $107.08. The stock has a market capitalization of $35.12 billion, a P/E ratio of 7.86, a price-to-earnings-growth ratio of 10.63 and a beta of 0.31.

Arch Capital Group (NASDAQ:ACGL) last announced its quarterly earnings results on Tuesday, July 28th. The insurance provider reported $2.56 EPS for the quarter, topping analysts’ consensus estimates of $2.47 by $0.09. Arch Capital Group had a return on equity of 17.06% and a net margin of 24.40%.The business had revenue of $8.72 billion for the quarter, compared to analysts’ expectations of $4.36 billion. During the same period in the previous year, the firm earned $2.58 EPS. On average, equities analysts anticipate that Arch Capital Group will post 9.36 earnings per share for the current year.

Insider Buying and Selling

In other Arch Capital Group news, Director Brian S. Posner sold 3,000 shares of the firm’s stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $19.66, for a total transaction of $58,980.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 3.30% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Arch Capital Group

Several institutional investors have recently bought and sold shares of ACGL. Elyxium Wealth LLC bought a new stake in shares of Arch Capital Group in the fourth quarter worth about $27,000. WealthCollab LLC lifted its position in Arch Capital Group by 410.3% in the third quarter. WealthCollab LLC now owns 296 shares of the insurance provider’s stock worth $27,000 after buying an additional 238 shares during the last quarter. Torren Management LLC boosted its stake in shares of Arch Capital Group by 66.9% during the 2nd quarter. Torren Management LLC now owns 292 shares of the insurance provider’s stock worth $28,000 after purchasing an additional 117 shares during the period. JPL Wealth Management LLC purchased a new stake in shares of Arch Capital Group in the third quarter worth approximately $28,000. Finally, TD Waterhouse Canada Inc. lifted its position in shares of Arch Capital Group by 72.7% during the fourth quarter. TD Waterhouse Canada Inc. now owns 323 shares of the insurance provider’s stock worth $31,000 after purchasing an additional 136 shares during the last quarter. 89.07% of the stock is owned by hedge funds and other institutional investors.

About Arch Capital Group

Arch Capital Group Ltd. (NASDAQ: ACGL) is a Bermuda-based insurance and reinsurance holding company that underwrites a broad range of property and casualty, mortgage, and specialty risk products. The company operates through a group of underwriting subsidiaries and platforms to provide insurance, reinsurance and related risk solutions tailored to commercial, institutional and individual clients.

Arch’s product mix includes treaty and facultative reinsurance, primary casualty and property insurance, mortgage insurance and other specialty lines.