Arch Capital Group (NASDAQ:ACGL) Price Target Raised to $104.00 at Evercore ISI

Arch Capital Group (NASDAQ:ACGL) had its price target boosted by research analysts at Evercore ISI from $100.00 to $104.00 in a research note issued on Wednesday, Benzinga reports. The brokerage currently has an “in-line” rating on the insurance provider’s stock. Evercore ISI’s price target points to a potential upside of 9.06% from the stock’s previous close.

ACGL has been the topic of several other research reports. Roth Mkm restated a “buy” rating and issued a $110.00 price target on shares of Arch Capital Group in a research note on Tuesday, April 30th. JMP Securities upped their price target on Arch Capital Group from $100.00 to $110.00 and gave the stock a “market outperform” rating in a research note on Tuesday, April 30th. StockNews.com raised Arch Capital Group from a “hold” rating to a “buy” rating in a research report on Thursday, July 4th. Bank of America lowered their price objective on Arch Capital Group from $119.00 to $118.00 and set a “buy” rating on the stock in a research report on Thursday, July 11th. Finally, Wells Fargo & Company upped their price objective on Arch Capital Group from $109.00 to $110.00 and gave the company an “overweight” rating in a research report on Wednesday, May 1st. Four investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $103.27.

Arch Capital Group Stock Down 2.9 %

Shares of ACGL stock traded down $2.84 during midday trading on Wednesday, reaching $95.36. 1,142,863 shares of the stock were exchanged, compared to its average volume of 1,659,053. Arch Capital Group has a 1 year low of $72.85 and a 1 year high of $103.79. The company’s 50 day moving average is $99.46 and its two-hundred day moving average is $92.92. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 0.17. The firm has a market cap of $35.81 billion, a PE ratio of 7.53, a price-to-earnings-growth ratio of 1.62 and a beta of 0.58.

Arch Capital Group (NASDAQ:ACGL) last posted its earnings results on Tuesday, July 30th. The insurance provider reported $2.57 earnings per share for the quarter, topping analysts’ consensus estimates of $2.21 by $0.36. Arch Capital Group had a return on equity of 21.85% and a net margin of 33.65%. The firm had revenue of $3.78 billion for the quarter, compared to the consensus estimate of $3.89 billion. During the same quarter in the prior year, the business earned $1.92 EPS. The business’s revenue for the quarter was up 10.3% on a year-over-year basis. On average, equities research analysts predict that Arch Capital Group will post 8.59 EPS for the current year.

Insider Transactions at Arch Capital Group

In other news, CEO David Gansberg sold 10,000 shares of the company’s stock in a transaction on Monday, May 6th. The stock was sold at an average price of $96.64, for a total value of $966,400.00. Following the completion of the sale, the chief executive officer now directly owns 228,035 shares in the company, valued at approximately $22,037,302.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 4.20% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Arch Capital Group

Hedge funds and other institutional investors have recently modified their holdings of the stock. Householder Group Estate & Retirement Specialist LLC purchased a new stake in shares of Arch Capital Group in the 4th quarter worth $27,000. Larson Financial Group LLC purchased a new stake in Arch Capital Group in the 4th quarter worth $30,000. UMB Bank n.a. purchased a new stake in Arch Capital Group in the 2nd quarter worth $30,000. Baldwin Brothers LLC MA increased its stake in Arch Capital Group by 50.7% in the 2nd quarter. Baldwin Brothers LLC MA now owns 309 shares of the insurance provider’s stock worth $31,000 after buying an additional 104 shares in the last quarter. Finally, Richardson Financial Services Inc. purchased a new position in shares of Arch Capital Group during the fourth quarter valued at about $33,000. 89.07% of the stock is currently owned by hedge funds and other institutional investors.

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.