Arch Capital Group (NASDAQ:ACGL) Upgraded to Buy by StockNews.com

StockNews.com upgraded shares of Arch Capital Group (NASDAQ:ACGL) from a hold rating to a buy rating in a report issued on Wednesday morning.

A number of other equities analysts have also recently commented on the stock. Royal Bank of Canada lifted their target price on shares of Arch Capital Group from $108.00 to $112.00 and gave the stock an “outperform” rating in a research report on Thursday, August 1st. Bank of America increased their target price on Arch Capital Group from $119.00 to $135.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Barclays assumed coverage on Arch Capital Group in a research note on Wednesday, September 4th. They issued an “equal weight” rating and a $120.00 price target on the stock. Wells Fargo & Company increased their price objective on Arch Capital Group from $110.00 to $126.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. Finally, Citigroup upped their price target 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. Four analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $119.53.

Arch Capital Group Stock Down 0.5 %

ACGL opened at $107.47 on Wednesday. The business’s fifty day simple moving average is $109.66 and its 200 day simple moving average is $101.66. Arch Capital Group has a 52 week low of $72.85 and a 52 week high of $116.47. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 0.16. The stock has a market cap of $40.35 billion, a PE ratio of 8.48, a P/E/G ratio of 2.03 and a beta of 0.59.

Arch Capital Group (NASDAQ:ACGL) last released its earnings results on Tuesday, July 30th. The insurance provider reported $2.57 earnings per share for the quarter, topping analysts’ consensus estimates 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 company had revenue of $3.78 billion during the quarter, compared to the consensus estimate of $3.89 billion. During the same quarter in the previous year, the company posted $1.92 EPS. Arch Capital Group’s quarterly revenue was up 10.3% compared to the same quarter last year. As a group, research analysts expect that Arch Capital Group will post 9.11 earnings per share for the current fiscal year.

Insider Activity at Arch Capital Group

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

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in shares of Arch Capital Group by 0.3% in the 1st quarter. Vanguard Group Inc. now owns 40,858,890 shares of the insurance provider’s stock worth $3,776,996,000 after purchasing an additional 104,008 shares during the period. Principal Financial Group Inc. boosted its stake in shares of Arch Capital Group by 4.4% during the 2nd quarter. Principal Financial Group Inc. now owns 7,100,952 shares of the insurance provider’s stock worth $716,415,000 after acquiring an additional 300,716 shares during the last quarter. Allspring Global Investments Holdings LLC grew its position in shares of Arch Capital Group by 1.7% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 5,907,122 shares of the insurance provider’s stock valued at $546,054,000 after acquiring an additional 99,329 shares during the period. Capital International Investors increased its stake in shares of Arch Capital Group by 61.1% in the 1st quarter. Capital International Investors now owns 4,112,577 shares of the insurance provider’s stock worth $380,167,000 after purchasing an additional 1,560,173 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in Arch Capital Group by 6.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,925,288 shares of the insurance provider’s stock worth $396,026,000 after purchasing an additional 244,285 shares during the period. Institutional investors own 89.07% of the company’s stock.

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.