Arch Capital Group (NASDAQ:ACGL) Price Target Increased to $135.00 by Analysts at Bank of America

Arch Capital Group (NASDAQ:ACGL) had its price target lifted by Bank of America from $119.00 to $135.00 in a report published on Thursday, Benzinga reports. Bank of America currently has a buy rating on the insurance provider’s stock.

Other equities research analysts have also issued reports about the stock. Roth Mkm raised their price objective on shares of Arch Capital Group from $110.00 to $125.00 and gave the company a buy rating in a report on Friday, August 23rd. Barclays assumed coverage on shares of Arch Capital Group in a report on Wednesday, September 4th. They issued an equal weight rating and a $120.00 price objective on the stock. TD Cowen raised their price objective on shares of Arch Capital Group from $116.00 to $138.00 and gave the company a buy rating in a report on Friday, September 20th. Citigroup raised their price objective on shares of Arch Capital Group from $105.00 to $114.00 and gave the company a neutral rating in a report on Tuesday, September 10th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Arch Capital Group from $106.00 to $108.00 and gave the company a neutral rating in a report on Wednesday, July 31st. Five equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of Moderate Buy and a consensus target price of $118.87.

Arch Capital Group Stock Performance

Shares of ACGL stock opened at $113.90 on Thursday. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 0.16. Arch Capital Group has a 52 week low of $72.85 and a 52 week high of $116.47. The stock has a market capitalization of $42.83 billion, a PE ratio of 8.01, a P/E/G ratio of 2.03 and a beta of 0.59. The firm has a 50 day moving average of $108.60 and a two-hundred day moving average of $101.07.

Arch Capital Group (NASDAQ:ACGL) last issued its quarterly earnings results on Tuesday, July 30th. The insurance provider reported $2.57 EPS for the quarter, beating the consensus estimate of $2.21 by $0.36. Arch Capital Group had a net margin of 35.19% and a return on equity of 21.42%. The company had revenue of $3.78 billion during the quarter, compared to analysts’ expectations of $3.89 billion. During the same quarter last year, the company posted $1.92 EPS. The firm’s revenue was up 10.3% compared to the same quarter last year. On average, research analysts predict that Arch Capital Group will post 9.11 EPS for the current fiscal year.

Insiders Place Their Bets

In other Arch Capital Group news, CFO Francois Morin sold 11,460 shares of the firm’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $102.46, for a total transaction of $1,174,191.60. Following the transaction, the chief financial officer now directly owns 221,779 shares of the company’s stock, valued at approximately $22,723,476.34. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 4.20% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. UMB Bank n.a. purchased a new stake in shares of Arch Capital Group in the second quarter valued at about $30,000. Baldwin Brothers LLC MA boosted its holdings 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 valued at $31,000 after acquiring an additional 104 shares in the last quarter. Rothschild Investment LLC purchased a new stake in shares of Arch Capital Group in the second quarter valued at about $35,000. LRI Investments LLC purchased a new stake in Arch Capital Group during the first quarter worth about $40,000. Finally, Compagnie Lombard Odier SCmA purchased a new stake in Arch Capital Group during the third quarter worth about $46,000. 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.