BMO Capital Markets Raises Arch Capital Group (NASDAQ:ACGL) Price Target to $104.00

Arch Capital Group (NASDAQ:ACGL) had its price objective lifted by BMO Capital Markets from $98.00 to $104.00 in a research report issued on Wednesday, Benzinga reports. The brokerage presently has a “market perform” rating on the insurance provider’s stock. BMO Capital Markets’ price objective would suggest a potential upside of 3.42% from the company’s current price.

A number of other equities research analysts also recently issued reports on ACGL. StockNews.com downgraded shares of Arch Capital Group from a “buy” rating to a “hold” rating in a report on Thursday, October 24th. Citigroup upped their price objective on Arch Capital Group from $105.00 to $114.00 and gave the stock a “neutral” rating in a report on Tuesday, September 10th. Evercore ISI lifted their target price on Arch Capital Group from $104.00 to $107.00 and gave the company an “in-line” rating in a report on Wednesday, October 9th. Barclays started coverage on Arch Capital Group in a research note on Wednesday, September 4th. They set an “equal weight” rating and a $120.00 price target for the company. Finally, Bank of America lifted their price objective on Arch Capital Group from $119.00 to $135.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Six equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $118.88.

Arch Capital Group Trading Up 4.2 %

Shares of Arch Capital Group stock traded up $4.06 during trading hours on Wednesday, reaching $100.56. 740,756 shares of the company’s stock were exchanged, compared to its average volume of 1,649,431. The firm has a market capitalization of $37.82 billion, a price-to-earnings ratio of 6.76, a price-to-earnings-growth ratio of 1.36 and a beta of 0.61. The company has a current ratio of 0.58, a quick ratio of 0.60 and a debt-to-equity ratio of 0.17. Arch Capital Group has a 52-week low of $72.85 and a 52-week high of $116.47. The company has a fifty day moving average of $109.86 and a 200-day moving average of $102.92.

Arch Capital Group (NASDAQ:ACGL) last released its earnings results on Wednesday, October 30th. The insurance provider reported $1.99 earnings per share for the quarter, topping the consensus estimate of $1.94 by $0.05. The firm had revenue of $4.72 billion for the quarter, compared to the consensus estimate of $4.05 billion. Arch Capital Group had a return on equity of 18.94% and a net margin of 33.86%. During the same period in the prior year, the business posted $2.31 earnings per share. Sell-side analysts forecast that Arch Capital Group will post 9.09 EPS for the current fiscal year.

Insider Activity at Arch Capital Group

In other Arch Capital Group news, CFO Francois Morin sold 11,460 shares of the business’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $102.46, for a total value of $1,174,191.60. Following the transaction, the chief financial officer now owns 221,779 shares in the company, valued at $22,723,476.34. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 4.00% of the company’s stock.

Hedge Funds Weigh In On Arch Capital Group

Several institutional investors and hedge funds have recently made changes to their positions in ACGL. Capital International Investors raised its holdings in Arch Capital Group by 61.1% in the first quarter. Capital International Investors now owns 4,112,577 shares of the insurance provider’s stock valued at $380,167,000 after acquiring an additional 1,560,173 shares in the last quarter. National Pension Service acquired a new stake in shares of Arch Capital Group in the 3rd quarter valued at about $64,271,000. International Assets Investment Management LLC grew its stake in Arch Capital Group by 18,634.1% in the third quarter. International Assets Investment Management LLC now owns 551,345 shares of the insurance provider’s stock worth $616,840,000 after purchasing an additional 548,402 shares in the last quarter. Brandes Investment Partners LP bought a new stake in Arch Capital Group in the second quarter valued at about $48,119,000. Finally, Natixis Advisors LLC raised its stake in Arch Capital Group by 59.1% during the second quarter. Natixis Advisors LLC now owns 1,139,480 shares of the insurance provider’s stock valued at $114,962,000 after buying an additional 423,406 shares in the last quarter. 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.