Arch Capital Group (NASDAQ:ACGL – Free Report) had its price objective increased by UBS Group from $120.00 to $125.00 in a research note published on Monday,Benzinga reports. UBS Group currently has a buy rating on the insurance provider’s stock.
ACGL has been the topic of several other research reports. Mizuho set a $100.00 price objective on shares of Arch Capital Group and gave the stock a “neutral” rating in a report on Wednesday, September 16th. Citigroup lifted their target price on Arch Capital Group from $122.50 to $125.00 and gave the stock a “buy” rating in a research report on Thursday, October 29th. Atlantic Securities set a $126.00 price target on Arch Capital Group in a research note on Wednesday, July 15th. Bank of America upped their price target on Arch Capital Group from $129.00 to $131.00 and gave the company a “buy” rating in a report on Monday, October 12th. Finally, Morgan Stanley set a $103.00 price objective on Arch Capital Group and gave the stock an “equal weight” rating in a research report on Thursday, October 29th. Seven equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $111.65.
Check Out Our Latest Research Report on ACGL
Arch Capital Group Trading Up 2.7%
Shares of ACGL stock opened at $110.68 on Monday. The firm has a market capitalization of $37.77 billion, a P/E ratio of 9.05, a price-to-earnings-growth ratio of 3.57 and a beta of 0.22. Arch Capital Group has a 1 year low of $87.05 and a 1 year high of $110.73. The firm’s fifty day simple moving average is $98.47 and its 200 day simple moving average is $97.04. The company has a current ratio of 0.56, a quick ratio of 0.57 and a debt-to-equity ratio of 0.21.
Arch Capital Group (NASDAQ:ACGL – Get Free Report) last issued its quarterly earnings results on Tuesday, October 27th. The insurance provider reported $2.67 earnings per share for the quarter, beating analysts’ consensus estimates of $2.31 by $0.36. The firm had revenue of $4.66 billion during the quarter, compared to the consensus estimate of $4.06 billion. Arch Capital Group had a net margin of 23.31% and a return on equity of 16.62%. During the same period in the prior year, the firm earned $2.77 EPS. As a group, sell-side analysts predict that Arch Capital Group will post 10.08 EPS for the current year.
Insiders Place Their Bets
In related news, CFO Francois Morin sold 11,010 shares of the stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $99.32, for a total value of $1,093,513.20. Following the completion of the transaction, the chief financial officer owned 184,826 shares of the company’s stock, valued at $18,356,918.32. This represents a 5.62% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 3.30% of the stock is currently owned by insiders.
Institutional Investors Weigh In On Arch Capital Group
Institutional investors have recently added to or reduced their stakes in the stock. Assenagon Asset Management S.A. grew its position in Arch Capital Group by 295.6% in the second quarter. Assenagon Asset Management S.A. now owns 50,073 shares of the insurance provider’s stock valued at $4,860,000 after acquiring an additional 37,416 shares during the period. Sequoia Financial Advisors LLC lifted its holdings in Arch Capital Group by 29.7% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 46,100 shares of the insurance provider’s stock valued at $4,474,000 after purchasing an additional 10,562 shares during the last quarter. Weiss Asset Management LP boosted its position in Arch Capital Group by 88.5% in the first quarter. Weiss Asset Management LP now owns 42,300 shares of the insurance provider’s stock valued at $4,060,000 after buying an additional 19,860 shares in the last quarter. Triad Investment Management acquired a new stake in shares of Arch Capital Group during the second quarter worth approximately $2,030,000. Finally, WINTON GROUP Ltd bought a new position in shares of Arch Capital Group in the second quarter valued at approximately $4,625,000. 89.07% of the stock is owned by institutional investors and hedge funds.
About Arch Capital Group
Arch Capital Group Ltd. is a Bermuda-based insurance, reinsurance and mortgage insurance company whose shares trade on the Nasdaq under the symbol ACGL. The company was established in 1995 and has developed into a global provider of specialty risk-management products and services.
Through its insurance operations, Arch offers property, casualty, specialty, and accident and health coverage to businesses and other policyholders. Its reinsurance operations provide coverage and risk-transfer solutions to insurance companies across a range of property and casualty lines.
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