Arch Capital Group (NASDAQ:ACGL) Given New $109.00 Price Target at Bank of America

Arch Capital Group (NASDAQ:ACGL) had its price target boosted by Bank of America from $105.00 to $109.00 in a research report released on Tuesday morning, Benzinga reports. The brokerage currently has a buy rating on the insurance provider’s stock.

Several other research firms have also recently issued reports on ACGL. Evercore ISI upped their price target on shares of Arch Capital Group from $98.00 to $100.00 and gave the company an in-line rating in a report on Tuesday. Roth Mkm reaffirmed a buy rating and issued a $110.00 price objective on shares of Arch Capital Group in a report on Tuesday. TD Cowen initiated coverage on shares of Arch Capital Group in a report on Wednesday, January 10th. They set an outperform rating and a $96.00 target price on the stock. Citigroup reduced their price target on shares of Arch Capital Group from $91.00 to $89.00 and set a neutral rating on the stock in a research report on Monday, January 22nd. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Arch Capital Group from $103.00 to $110.00 and gave the company a buy rating in a research report on Tuesday. Five research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of Moderate Buy and an average target price of $100.60.

Arch Capital Group Stock Up 2.5 %

Shares of Arch Capital Group stock opened at $93.54 on Tuesday. Arch Capital Group has a twelve month low of $69.05 and a twelve month high of $95.01. The stock has a market cap of $35.09 billion, a price-to-earnings ratio of 8.05, a price-to-earnings-growth ratio of 1.13 and a beta of 0.57. The company has a current ratio of 0.57, a quick ratio of 0.57 and a debt-to-equity ratio of 0.17. The company has a fifty day moving average price of $90.44 and a 200 day moving average price of $84.49.

Arch Capital Group (NASDAQ:ACGL) last issued its earnings results on Tuesday, April 30th. The insurance provider reported $2.45 earnings per share for the quarter, topping the consensus estimate of $2.06 by $0.39. The company had revenue of $4.09 billion during the quarter, compared to the consensus estimate of $3.77 billion. Arch Capital Group had a return on equity of 21.94% and a net margin of 32.59%. The company’s revenue was up 19.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.73 earnings per share. Equities research analysts forecast that Arch Capital Group will post 8.03 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Maamoun Rajeh sold 50,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $87.48, for a total value of $4,374,000.00. Following the sale, the chief executive officer now directly owns 336,170 shares in the company, valued at approximately $29,408,151.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, CEO Maamoun Rajeh sold 50,000 shares of the company’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $87.48, for a total value of $4,374,000.00. Following the completion of the sale, the chief executive officer now owns 336,170 shares of the company’s stock, valued at $29,408,151.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Nicolas Papadopoulo sold 60,000 shares of the firm’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $87.52, for a total transaction of $5,251,200.00. Following the transaction, the insider now directly owns 651,931 shares in the company, valued at approximately $57,057,001.12. The disclosure for this sale can be found here. Insiders sold 135,689 shares of company stock valued at $11,872,217 in the last three months. 4.00% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Arch Capital Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. DekaBank Deutsche Girozentrale lifted its holdings in shares of Arch Capital Group by 6.0% in the third quarter. DekaBank Deutsche Girozentrale now owns 205,548 shares of the insurance provider’s stock valued at $16,756,000 after buying an additional 11,594 shares during the period. SG Americas Securities LLC lifted its holdings in Arch Capital Group by 601.1% in the 4th quarter. SG Americas Securities LLC now owns 141,370 shares of the insurance provider’s stock valued at $10,500,000 after acquiring an additional 121,206 shares during the last quarter. Treasurer of the State of North Carolina lifted its holdings in Arch Capital Group by 0.7% in the 3rd quarter. Treasurer of the State of North Carolina now owns 209,153 shares of the insurance provider’s stock valued at $16,672,000 after acquiring an additional 1,504 shares during the last quarter. Millington Financial Advisors LLC bought a new position in shares of Arch Capital Group during the 3rd quarter valued at about $1,030,000. Finally, Wedge Capital Management L L P NC grew its stake in shares of Arch Capital Group by 28.9% in the 4th quarter. Wedge Capital Management L L P NC now owns 205,698 shares of the insurance provider’s stock worth $15,277,000 after purchasing an additional 46,089 shares during the last quarter. 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.