Bank of America Boosts Arch Capital Group (NASDAQ:ACGL) Price Target to $109.00

Arch Capital Group (NASDAQ:ACGL) had its price target increased by Bank of America from $105.00 to $109.00 in a research report report published on Tuesday morning, Benzinga reports. Bank of America currently has a buy rating on the insurance provider’s stock.

A number of other research firms have also commented on ACGL. Royal Bank of Canada reiterated an outperform rating and set a $98.00 price objective on shares of Arch Capital Group in a report on Friday, February 16th. JMP Securities raised their price objective on shares of Arch Capital Group from $100.00 to $110.00 and gave the stock a market outperform rating in a report on Tuesday. Evercore ISI increased their target price on Arch Capital Group from $98.00 to $100.00 and gave the stock an in-line rating in a report on Tuesday. StockNews.com lowered Arch Capital Group from a buy rating to a hold rating in a report on Monday, March 11th. Finally, Roth Mkm reiterated a buy rating and set a $110.00 price objective on shares of Arch Capital Group in a report on Tuesday. Four equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and a consensus target price of $100.67.

Arch Capital Group Trading Down 0.8 %

Shares of NASDAQ ACGL opened at $94.41 on Tuesday. Arch Capital Group has a fifty-two week low of $69.05 and a fifty-two week high of $96.58. The firm has a market capitalization of $35.42 billion, a P/E ratio of 7.45, a P/E/G ratio of 1.14 and a beta of 0.57. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.59 and a quick ratio of 0.57. The company’s 50 day simple moving average is $91.01 and its 200 day simple moving average is $84.71.

Arch Capital Group (NASDAQ:ACGL) last announced its quarterly earnings results on Monday, April 29th. The insurance provider reported $2.45 EPS for the quarter, beating analysts’ consensus estimates of $2.06 by $0.39. The company had revenue of $4.09 billion during the quarter, compared to analysts’ expectations of $3.77 billion. Arch Capital Group had a return on equity of 21.85% and a net margin of 33.65%. Arch Capital Group’s revenue was up 19.3% on a year-over-year basis. During the same period in the prior year, the business posted $1.73 EPS. On average, analysts predict that Arch Capital Group will post 8.4 EPS for the current year.

Insider Activity

In related news, insider Nicolas Papadopoulo sold 60,000 shares of the company’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $87.52, for a total value of $5,251,200.00. Following the transaction, the insider now owns 651,931 shares in the company, valued at approximately $57,057,001.12. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, CEO Maamoun Rajeh sold 50,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $87.48, for a total value of $4,374,000.00. Following the completion of the sale, the chief executive officer now directly owns 336,170 shares in the company, valued at $29,408,151.60. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Nicolas Papadopoulo sold 60,000 shares of the firm’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $87.52, for a total value of $5,251,200.00. Following the transaction, the insider now owns 651,931 shares in the company, valued at approximately $57,057,001.12. The disclosure for this sale can be found here. Insiders sold a total of 135,689 shares of company stock valued at $11,872,217 over the last three months. Insiders own 4.20% of the company’s stock.

Institutional Trading of Arch Capital Group

Large investors have recently modified their holdings of the stock. Householder Group Estate & Retirement Specialist LLC bought a new stake in shares of Arch Capital Group during the 4th quarter worth $27,000. Larson Financial Group LLC bought a new stake in shares of Arch Capital Group during the 4th quarter valued at approximately $30,000. Richardson Financial Services Inc. acquired a new position in Arch Capital Group during the 4th quarter worth approximately $33,000. CVA Family Office LLC acquired a new stake in Arch Capital Group in the fourth quarter valued at approximately $47,000. Finally, Indiana Trust & Investment Management CO acquired a new position in shares of Arch Capital Group during the first quarter worth $58,000. 89.07% of the stock is owned by institutional investors and hedge funds.

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.