Arch Capital Group (NASDAQ:ACGL) Sets New 12-Month High Following Analyst Upgrade

Arch Capital Group Ltd. (NASDAQ:ACGL)’s stock price hit a new 52-week high during trading on Wednesday after StockNews.com upgraded the stock from a hold rating to a buy rating. The company traded as high as $95.62 and last traded at $94.81, with a volume of 97423 shares trading hands. The stock had previously closed at $93.54.

Other analysts also recently issued reports about the company. Evercore ISI upped their price objective on Arch Capital Group from $98.00 to $100.00 and gave the company an “in-line” rating in a research note on Tuesday. TD Cowen assumed coverage on Arch Capital Group in a research note on Wednesday, January 10th. They set an “outperform” rating and a $96.00 price target for the company. Royal Bank of Canada reaffirmed an “outperform” rating and set a $98.00 price target on shares of Arch Capital Group in a report on Friday, February 16th. Citigroup dropped their price objective on shares of Arch Capital Group from $91.00 to $89.00 and set a “neutral” rating on the stock in a research note on Monday, January 22nd. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on shares of Arch Capital Group from $103.00 to $110.00 and gave the stock a “buy” rating in a research report on Tuesday. Four analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $100.67.

Insider Activity at Arch Capital Group

In other Arch Capital Group news, CFO Francois Morin sold 25,689 shares of the company’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $87.47, for a total transaction of $2,247,016.83. Following the transaction, the chief financial officer now directly owns 221,779 shares in the company, valued at $19,399,009.13. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Arch Capital Group news, CFO Francois Morin sold 25,689 shares of the business’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $87.47, for a total transaction of $2,247,016.83. Following the sale, the chief financial officer now directly owns 221,779 shares in the company, valued at $19,399,009.13. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Maamoun Rajeh sold 50,000 shares of the company’s stock in a transaction on 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 directly owns 336,170 shares in the company, valued at approximately $29,408,151.60. The disclosure for this sale can be found here. Insiders sold 135,689 shares of company stock worth $11,872,217 over the last 90 days. Company insiders own 4.20% of the company’s stock.

Hedge Funds Weigh In On Arch Capital Group

Several hedge funds have recently added to or reduced their stakes in the business. Householder Group Estate & Retirement Specialist LLC acquired a new position in shares of Arch Capital Group in the fourth quarter worth $27,000. Larson Financial Group LLC acquired a new position in Arch Capital Group in the 4th quarter valued at about $30,000. Richardson Financial Services Inc. acquired a new position in Arch Capital Group in the 4th quarter valued at about $33,000. CVA Family Office LLC purchased a new position in Arch Capital Group in the 4th quarter valued at about $47,000. Finally, Indiana Trust & Investment Management CO acquired a new stake in shares of Arch Capital Group during the 1st quarter worth about $58,000. 89.07% of the stock is currently owned by hedge funds and other institutional investors.

Arch Capital Group Trading Down 0.7 %

The business’s fifty day moving average price is $90.82 and its 200 day moving average price is $84.63. The company has a quick ratio of 0.57, a current ratio of 0.59 and a debt-to-equity ratio of 0.17. The firm has a market capitalization of $35.70 billion, a PE ratio of 7.49, a P/E/G ratio of 1.16 and a beta of 0.56.

Arch Capital Group (NASDAQ:ACGL) last announced its earnings results on Monday, April 29th. The insurance provider reported $2.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.06 by $0.39. The firm had revenue of $4.09 billion for the quarter, compared to analyst estimates of $3.77 billion. Arch Capital Group had a net margin of 33.65% and a return on equity of 21.85%. Arch Capital Group’s revenue was up 19.3% compared to the same quarter last year. During the same quarter last year, the business earned $1.73 earnings per share. As a group, analysts expect that Arch Capital Group Ltd. will post 8.09 EPS for the current fiscal year.

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.