Arch Capital Group (NASDAQ:ACGL) Price Target Raised to $138.00 at TD Cowen

Arch Capital Group (NASDAQ:ACGL) had its price target lifted by TD Cowen from $116.00 to $138.00 in a research report sent to investors on Friday, Benzinga reports. They currently have a buy rating on the insurance provider’s stock.

ACGL has been the topic of a number of other research reports. JMP Securities raised their target price on shares of Arch Capital Group from $110.00 to $115.00 and gave the stock a market outperform rating in a research note on Wednesday, July 31st. Citigroup lifted their target price on shares of Arch Capital Group from $105.00 to $114.00 and gave the company a neutral rating in a research note on Tuesday, September 10th. Keefe, Bruyette & Woods increased their price target on Arch Capital Group from $120.00 to $121.00 and gave the stock an outperform rating in a research note on Wednesday, August 7th. Roth Mkm upped their price objective on Arch Capital Group from $110.00 to $125.00 and gave the stock a buy rating in a research note on Friday, August 23rd. Finally, Wells Fargo & Company dropped their price target on Arch Capital Group from $111.00 to $110.00 and set an overweight rating for the company in a research note on Monday, August 12th. Five equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and a consensus price target of $113.73.

Arch Capital Group Trading Up 0.4 %

Shares of Arch Capital Group stock opened at $113.66 on Friday. Arch Capital Group has a 1-year low of $72.85 and a 1-year high of $114.69. The company’s fifty day simple moving average is $104.48 and its 200-day simple moving average is $99.23. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.60 and a quick ratio of 0.60. The stock has a market capitalization of $42.74 billion, a PE ratio of 8.97, a P/E/G ratio of 2.07 and a beta of 0.60.

Arch Capital Group (NASDAQ:ACGL) last released its quarterly earnings results on Tuesday, July 30th. The insurance provider reported $2.57 earnings per share (EPS) 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 business had revenue of $3.78 billion during the quarter, compared to analyst estimates of $3.89 billion. During the same quarter in the previous year, the company posted $1.92 earnings per share. Arch Capital Group’s revenue for the quarter was up 10.3% on a year-over-year basis. As a group, equities analysts anticipate that Arch Capital Group will post 9.01 earnings per share for the current year.

Insider Activity

In related news, CFO Francois Morin sold 11,460 shares of the firm’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $102.46, for a total value of $1,174,191.60. Following the completion of the sale, the chief financial officer now directly owns 221,779 shares in the company, valued at $22,723,476.34. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 4.20% of the company’s stock.

Institutional Trading of Arch Capital Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ACGL. Baldwin Brothers LLC MA boosted its position in shares of Arch Capital Group by 50.7% during the second quarter. Baldwin Brothers LLC MA now owns 309 shares of the insurance provider’s stock valued at $31,000 after buying an additional 104 shares during the period. Fidelis Capital Partners LLC boosted its holdings in Arch Capital Group by 3.1% during the 2nd quarter. Fidelis Capital Partners LLC now owns 3,553 shares of the insurance provider’s stock valued at $344,000 after acquiring an additional 106 shares during the period. Sunbelt Securities Inc. grew its position in Arch Capital Group by 1.8% in the 1st quarter. Sunbelt Securities Inc. now owns 6,679 shares of the insurance provider’s stock valued at $617,000 after acquiring an additional 117 shares during the last quarter. Resonant Capital Advisors LLC grew its position in Arch Capital Group by 2.1% in the 1st quarter. Resonant Capital Advisors LLC now owns 5,802 shares of the insurance provider’s stock valued at $536,000 after acquiring an additional 118 shares during the last quarter. Finally, Versant Capital Management Inc increased its stake in Arch Capital Group by 40.3% in the second quarter. Versant Capital Management Inc now owns 456 shares of the insurance provider’s stock worth $46,000 after purchasing an additional 131 shares during the period. 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.