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

Arch Capital Group (NASDAQ:ACGL) had its price objective raised by BMO Capital Markets from $98.00 to $104.00 in a research report sent to investors on Wednesday, Benzinga reports. They currently have a market perform rating on the insurance provider’s stock.

Other equities research analysts also recently issued research reports about the company. Bank of America boosted their price objective 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 initiated coverage on shares of 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. Keefe, Bruyette & Woods boosted their target price on shares of Arch Capital Group from $120.00 to $121.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 7th. Roth Mkm raised their price target on shares of Arch Capital Group from $110.00 to $125.00 and gave the company a “buy” rating in a research report on Friday, August 23rd. Finally, TD Cowen lifted their price target on Arch Capital Group from $116.00 to $138.00 and gave the company a “buy” rating in a research note on Friday, September 20th. Six analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $118.88.

Arch Capital Group Stock Performance

Shares of ACGL stock opened at $101.70 on Wednesday. The firm has a 50 day moving average of $109.67 and a 200-day moving average of $102.91. The company has a market cap of $38.25 billion, a price-to-earnings ratio of 6.83, a price-to-earnings-growth ratio of 1.36 and a beta of 0.61. The company has a quick ratio of 0.60, a current ratio of 0.58 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.

Arch Capital Group (NASDAQ:ACGL) last posted its quarterly earnings results on Wednesday, October 30th. The insurance provider reported $1.99 EPS for the quarter, topping analysts’ consensus estimates of $1.94 by $0.05. Arch Capital Group had a net margin of 33.86% and a return on equity of 18.94%. The business had revenue of $4.72 billion during the quarter, compared to analysts’ expectations of $4.05 billion. During the same period last year, the company posted $2.31 earnings per share. On average, equities analysts forecast that Arch Capital Group will post 9.09 earnings per share for the current year.

Insider Buying and Selling

In other Arch Capital Group news, CFO Francois Morin sold 11,460 shares of the company’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 transaction, the chief financial officer now owns 221,779 shares in the company, valued at $22,723,476.34. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 4.20% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. State Board of Administration of Florida Retirement System lifted its stake in Arch Capital Group by 5.2% in the first quarter. State Board of Administration of Florida Retirement System now owns 431,105 shares of the insurance provider’s stock valued at $39,851,000 after purchasing an additional 21,332 shares during the last quarter. Sequoia Financial Advisors LLC increased its holdings in Arch Capital Group by 2.6% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 20,871 shares of the insurance provider’s stock worth $2,106,000 after acquiring an additional 519 shares during the last quarter. Cetera Advisors LLC increased its holdings in Arch Capital Group by 70.9% in the 1st quarter. Cetera Advisors LLC now owns 13,700 shares of the insurance provider’s stock worth $1,266,000 after acquiring an additional 5,684 shares during the last quarter. Swedbank AB bought a new stake in Arch Capital Group in the 1st quarter valued at about $25,060,000. Finally, Price T Rowe Associates Inc. MD lifted its holdings in Arch Capital Group by 0.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,052,549 shares of the insurance provider’s stock valued at $97,299,000 after purchasing an additional 7,109 shares during the last quarter. 89.07% of the stock is currently 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.