Arch Capital Group (NASDAQ:ACGL) Given New $111.00 Price Target at JPMorgan Chase & Co.

Arch Capital Group (NASDAQ:ACGL) had its price target upped by JPMorgan Chase & Co. from $110.00 to $111.00 in a research note released on Tuesday,Benzinga reports. The brokerage currently has a neutral rating on the insurance provider’s stock.

Several other brokerages have also commented on ACGL. Barclays set a $99.00 price objective on Arch Capital Group and gave the company an “equal weight” rating in a research report on Wednesday, October 8th. Cantor Fitzgerald raised Arch Capital Group to a “hold” rating in a research report on Wednesday, August 13th. The Goldman Sachs Group set a $88.00 price target on Arch Capital Group and gave the stock a “sell” rating in a research report on Tuesday, October 14th. Cowen reiterated a “buy” rating on shares of Arch Capital Group in a research note on Monday, August 4th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Arch Capital Group in a report on Wednesday, October 8th. Eight analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Arch Capital Group currently has a consensus rating of “Hold” and a consensus price target of $109.00.

Arch Capital Group Stock Down 1.4%

ACGL stock opened at $84.72 on Tuesday. Arch Capital Group has a fifty-two week low of $82.44 and a fifty-two week high of $106.63. The business’s 50 day moving average price is $90.19 and its two-hundred day moving average price is $90.72. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.56 and a current ratio of 0.56. The company has a market capitalization of $31.62 billion, a price-to-earnings ratio of 7.93, a price-to-earnings-growth ratio of 4.97 and a beta of 0.47.

Arch Capital Group (NASDAQ:ACGL) last released its quarterly earnings results on Monday, October 27th. The insurance provider reported $2.77 earnings per share for the quarter, beating the consensus estimate of $1.76 by $1.01. Arch Capital Group had a return on equity of 16.76% and a net margin of 20.96%.The company had revenue of $3.96 billion for the quarter, compared to analyst estimates of $4.39 billion. During the same period in the previous year, the company posted $1.99 earnings per share. As a group, analysts forecast that Arch Capital Group will post 8.42 earnings per share for the current fiscal year.

Insider Activity at Arch Capital Group

In other Arch Capital Group news, insider Maamoun Rajeh sold 10,000 shares of Arch Capital Group stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $94.15, for a total value of $941,500.00. Following the completion of the sale, the insider owned 433,589 shares of the company’s stock, valued at approximately $40,822,404.35. This trade represents a 2.25% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 4.10% of the company’s stock.

Institutional Investors Weigh In On Arch Capital Group

Several large investors have recently bought and sold shares of the business. Meeder Asset Management Inc. lifted its stake in Arch Capital Group by 116.3% during the 1st quarter. Meeder Asset Management Inc. now owns 279 shares of the insurance provider’s stock valued at $27,000 after acquiring an additional 150 shares during the period. Wayfinding Financial LLC bought a new position in Arch Capital Group during the 1st quarter valued at about $31,000. Zions Bancorporation National Association UT purchased a new position in shares of Arch Capital Group during the first quarter valued at approximately $37,000. Quent Capital LLC purchased a new position in shares of Arch Capital Group during the third quarter valued at approximately $37,000. Finally, Richardson Financial Services Inc. raised its holdings in shares of Arch Capital Group by 63.3% during the third quarter. Richardson Financial Services Inc. now owns 418 shares of the insurance provider’s stock valued at $38,000 after purchasing an additional 162 shares during the last quarter. 89.07% of the stock is currently owned by institutional investors.

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.