Arch Capital Group (NASDAQ:ACGL) Given New $113.00 Price Target at Keefe, Bruyette & Woods

Arch Capital Group (NASDAQ:ACGL) had its price objective lifted by Keefe, Bruyette & Woods from $104.00 to $113.00 in a report issued on Tuesday morning,Benzinga reports. The firm currently has an outperform rating on the insurance provider’s stock.

Several other equities analysts also recently issued reports on the company. Barclays reduced their price objective on Arch Capital Group from $100.00 to $93.00 and set an “equal weight” rating for the company in a research report on Friday, April 11th. Royal Bank of Canada lowered their price target on Arch Capital Group from $125.00 to $110.00 and set an “outperform” rating on the stock in a report on Wednesday, February 12th. Morgan Stanley reduced their price objective on shares of Arch Capital Group from $115.00 to $110.00 and set an “overweight” rating for the company in a report on Friday, February 14th. JPMorgan Chase & Co. raised their target price on shares of Arch Capital Group from $106.00 to $107.00 and gave the company a “neutral” rating in a research note on Tuesday, April 8th. Finally, Wells Fargo & Company upped their price target on shares of Arch Capital Group from $106.00 to $108.00 and gave the stock an “overweight” rating in a research note on Thursday, May 1st. Six investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $115.00.

Arch Capital Group Price Performance

Shares of ACGL opened at $93.00 on Tuesday. Arch Capital Group has a 12 month low of $82.49 and a 12 month high of $116.47. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.54 and a quick ratio of 0.58. The stock has a fifty day moving average price of $92.14 and a 200 day moving average price of $94.21. The company has a market cap of $34.94 billion, a P/E ratio of 8.30, a PEG ratio of 2.31 and a beta of 0.57.

Arch Capital Group (NASDAQ:ACGL) last released its quarterly earnings results on Tuesday, April 29th. The insurance provider reported $1.54 EPS for the quarter, missing the consensus estimate of $1.59 by ($0.05). The firm had revenue of $4.52 billion for the quarter, compared to the consensus estimate of $4.75 billion. Arch Capital Group had a return on equity of 17.96% and a net margin of 24.73%. The firm’s revenue was up 10.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.45 EPS. On average, research analysts forecast that Arch Capital Group will post 8.42 earnings per share for the current year.

Insider Activity

In other Arch Capital Group news, CEO Nicolas Papadopoulo sold 7,636 shares of the company’s stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $92.48, for a total transaction of $706,177.28. Following the completion of the sale, the chief executive officer now directly owns 795,718 shares of the company’s stock, valued at approximately $73,588,000.64. This represents a 0.95 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Louis T. Petrillo sold 11,600 shares of Arch Capital Group stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $91.00, for a total transaction of $1,055,600.00. Following the completion of the transaction, the insider now directly owns 140,023 shares in the company, valued at approximately $12,742,093. This trade represents a 7.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 4.20% of the company’s stock.

Institutional Trading of Arch Capital Group

A number of hedge funds have recently modified their holdings of the business. Norges Bank purchased a new stake in Arch Capital Group in the 4th quarter worth about $437,291,000. Madison Investment Advisors LLC purchased a new stake in shares of Arch Capital Group in the fourth quarter worth approximately $410,010,000. First Trust Advisors LP boosted its holdings in shares of Arch Capital Group by 663.3% during the fourth quarter. First Trust Advisors LP now owns 2,462,382 shares of the insurance provider’s stock worth $227,401,000 after purchasing an additional 2,139,782 shares during the period. Marshall Wace LLP purchased a new position in Arch Capital Group during the fourth quarter valued at approximately $151,342,000. Finally, Swedbank AB increased its stake in Arch Capital Group by 268.8% in the 4th quarter. Swedbank AB now owns 1,261,957 shares of the insurance provider’s stock valued at $116,542,000 after buying an additional 919,793 shares during the period. Hedge funds and other institutional investors own 89.07% of the company’s stock.

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.