Arch Capital Group (NASDAQ:ACGL) PT Raised to $45.00

Arch Capital Group (NASDAQ:ACGL) had its price target upped by MKM Partners from $40.00 to $45.00 in a research note published on Tuesday, BenzingaRatingsTable reports. They currently have a buy rating on the insurance provider’s stock.

A number of other research firms have also commented on ACGL. Deutsche Bank raised Arch Capital Group from a hold rating to a buy rating and set a $35.35 price objective on the stock in a research note on Wednesday, June 26th. Wells Fargo & Co reaffirmed a hold rating and issued a $32.00 price objective on shares of Arch Capital Group in a research note on Tuesday, April 30th. Buckingham Research downgraded Arch Capital Group from a buy rating to a neutral rating and set a $38.00 target price for the company. in a report on Friday, July 19th. Morgan Stanley set a $32.00 target price on Arch Capital Group and gave the stock a hold rating in a report on Friday, May 17th. Finally, Zacks Investment Research downgraded Arch Capital Group from a buy rating to a hold rating in a report on Tuesday, April 16th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the company’s stock. The company presently has a consensus rating of Hold and a consensus target price of $36.79.

Arch Capital Group stock opened at $38.72 on Tuesday. The business has a 50 day moving average of $37.43. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.54 and a current ratio of 0.54. The firm has a market capitalization of $15.64 billion, a price-to-earnings ratio of 17.60, a P/E/G ratio of 1.38 and a beta of 0.65. Arch Capital Group has a one year low of $24.79 and a one year high of $39.86.

Arch Capital Group (NASDAQ:ACGL) last posted its quarterly earnings data on Monday, July 29th. The insurance provider reported $0.77 EPS for the quarter, topping the Zacks’ consensus estimate of $0.69 by $0.08. The company had revenue of $1.45 billion for the quarter, compared to analyst estimates of $1.24 billion. Arch Capital Group had a return on equity of 10.90% and a net margin of 20.48%. The firm’s quarterly revenue was up 11.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.59 earnings per share. As a group, analysts predict that Arch Capital Group will post 2.8 EPS for the current year.

In other Arch Capital Group news, Vice Chairman John M. Pasquesi sold 299,741 shares of Arch Capital Group stock in a transaction that occurred on Wednesday, May 29th. The stock was sold at an average price of $33.99, for a total value of $10,188,196.59. Following the completion of the sale, the insider now directly owns 2,832 shares in the company, valued at $96,259.68. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Marc Grandisson sold 55,408 shares of Arch Capital Group stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $33.86, for a total value of $1,876,114.88. Following the completion of the sale, the chief executive officer now owns 115,487 shares of the company’s stock, valued at $3,910,389.82. The disclosure for this sale can be found here. Over the last quarter, insiders sold 486,843 shares of company stock valued at $16,534,635. 5.20% of the stock is currently owned by corporate insiders.

Hedge funds have recently modified their holdings of the business. Quadrant Capital Group LLC increased its holdings in shares of Arch Capital Group by 200.0% during the first quarter. Quadrant Capital Group LLC now owns 948 shares of the insurance provider’s stock valued at $29,000 after acquiring an additional 632 shares in the last quarter. Optimum Investment Advisors increased its holdings in shares of Arch Capital Group by 333.3% during the first quarter. Optimum Investment Advisors now owns 1,300 shares of the insurance provider’s stock valued at $42,000 after acquiring an additional 1,000 shares in the last quarter. Advisory Services Network LLC bought a new stake in shares of Arch Capital Group during the second quarter valued at approximately $71,000. Wakefield Asset Management LLLP bought a new stake in shares of Arch Capital Group during the first quarter valued at approximately $152,000. Finally, ETF Managers Group LLC increased its holdings in shares of Arch Capital Group by 9.9% during the first quarter. ETF Managers Group LLC now owns 5,017 shares of the insurance provider’s stock valued at $162,000 after acquiring an additional 451 shares in the last quarter. Institutional investors and hedge funds own 80.14% of the company’s stock.

Arch Capital Group Company Profile

Arch Capital Group Ltd., together with its subsidiaries, provides property, casualty, and mortgage insurance and reinsurance products worldwide. The company's Insurance segment offers primary and excess casualty coverages; loss sensitive primary casualty insurance programs; collateral protection, debt cancellation, and service contract reimbursement products; 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.

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Analyst Recommendations for Arch Capital Group (NASDAQ:ACGL)

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