JPMorgan Chase & Co. Increases Arch Capital Group (NASDAQ:ACGL) Price Target to $108.00

Arch Capital Group (NASDAQ:ACGL) had its price objective upped by JPMorgan Chase & Co. from $106.00 to $108.00 in a report published on Wednesday, Benzinga reports. They currently have a neutral rating on the insurance provider’s stock.

A number of other equities analysts have also recently issued reports on ACGL. StockNews.com raised Arch Capital Group from a hold rating to a buy rating in a report on Thursday, July 4th. Wells Fargo & Company upped their target price on Arch Capital Group from $109.00 to $110.00 and gave the stock an overweight rating in a report on Wednesday, May 1st. Bank of America reduced their price target 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. JMP Securities upped their price target on Arch Capital Group from $100.00 to $110.00 and gave the company a market outperform rating in a research report on Tuesday, April 30th. Finally, Evercore ISI upped their price target on Arch Capital Group from $98.00 to $100.00 and gave the company an in-line rating in a research report on Tuesday, April 30th. Five analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of Moderate Buy and an average target price of $104.53.

Arch Capital Group Stock Performance

ACGL opened at $98.67 on Wednesday. The business has a fifty day simple moving average of $99.13 and a 200 day simple moving average of $93.22. The company has a market capitalization of $37.05 billion, a PE ratio of 7.79, a price-to-earnings-growth ratio of 1.81 and a beta of 0.58. Arch Capital Group has a 1 year low of $72.85 and a 1 year high of $103.79. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.60 and a quick ratio of 0.59.

Arch Capital Group (NASDAQ:ACGL) last announced its quarterly earnings data on Tuesday, July 30th. The insurance provider reported $2.57 earnings per share for the quarter, beating the consensus estimate of $2.21 by $0.36. Arch Capital Group had a return on equity of 21.42% and a net margin of 35.19%. The firm had revenue of $3.78 billion during the quarter, compared to analysts’ expectations of $3.89 billion. During the same period in the previous year, the firm earned $1.92 EPS. The company’s quarterly revenue was up 10.3% compared to the same quarter last year. Research analysts expect that Arch Capital Group will post 8.75 EPS for the current year.

Insider Buying and Selling

In related news, CEO David Gansberg sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $96.64, for a total transaction of $966,400.00. Following the transaction, the chief executive officer now directly owns 228,035 shares of the company’s stock, valued at approximately $22,037,302.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 4.20% of the stock is owned by company insiders.

Institutional Trading of Arch Capital Group

Institutional investors and hedge funds 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 fourth quarter worth approximately $27,000. Larson Financial Group LLC purchased a new stake in shares of Arch Capital Group in the fourth quarter worth approximately $30,000. UMB Bank n.a. purchased a new stake in shares of Arch Capital Group in the second quarter worth approximately $30,000. Baldwin Brothers LLC MA raised its stake in shares of Arch Capital Group by 50.7% in the second quarter. Baldwin Brothers LLC MA now owns 309 shares of the insurance provider’s stock worth $31,000 after purchasing an additional 104 shares during the last quarter. Finally, Richardson Financial Services Inc. purchased a new stake in shares of Arch Capital Group during the fourth quarter valued at approximately $33,000. 89.07% of the stock is owned by hedge funds and other 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.