Arch Capital Group (NASDAQ:ACGL) Given New $102.00 Price Target at Keefe, Bruyette & Woods

Arch Capital Group (NASDAQ:ACGL) had its target price raised by Keefe, Bruyette & Woods from $100.00 to $102.00 in a research note released on Tuesday,Benzinga reports. The brokerage currently has a market perform rating on the insurance provider’s stock.

A number of other analysts have also recently issued reports on ACGL. JPMorgan Chase & Co. upped their target price on Arch Capital Group from $110.00 to $111.00 and gave the company a “neutral” rating in a research report on Tuesday, October 28th. Roth Capital set a $110.00 target price on shares of Arch Capital Group and gave the company a “buy” rating in a report on Tuesday, December 2nd. Morgan Stanley raised their price target on Arch Capital Group from $105.00 to $110.00 and gave the stock an “overweight” rating in a report on Monday, November 17th. The Goldman Sachs Group set a $88.00 price objective on shares of Arch Capital Group and gave the stock a “sell” rating in a research report on Tuesday, October 14th. Finally, Barclays set a $99.00 target price on Arch Capital Group and gave the stock an “equal weight” rating in a research note on Wednesday, October 8th. Eight analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Arch Capital Group has a consensus rating of “Hold” and a consensus target price of $105.93.

Arch Capital Group Stock Down 0.6%

Shares of NASDAQ:ACGL opened at $93.92 on Tuesday. The firm has a 50 day simple moving average of $92.69 and a 200-day simple moving average of $90.74. Arch Capital Group has a twelve month low of $82.44 and a twelve month high of $97.60. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $34.06 billion, a PE ratio of 8.79, a P/E/G ratio of 2.13 and a beta of 0.45.

Arch Capital Group (NASDAQ:ACGL) last announced its quarterly earnings results on Monday, October 27th. The insurance provider reported $2.77 EPS for the quarter, topping the consensus estimate of $1.76 by $1.01. Arch Capital Group had a net margin of 20.96% and a return on equity of 16.38%. The firm had revenue of $5.11 billion for the quarter, compared to analyst estimates of $4.39 billion. During the same period last year, the business earned $1.99 EPS. On average, equities analysts predict that Arch Capital Group will post 8.42 EPS for the current fiscal year.

Insider Buying and Selling

In other Arch Capital Group news, insider John M. Pasquesi sold 203,866 shares of the business’s stock in a transaction dated Friday, December 12th. The shares were sold at an average price of $93.90, for a total transaction of $19,143,017.40. Following the sale, the insider directly owned 351,356 shares in the company, valued at approximately $32,992,328.40. The trade was a 36.72% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Francois Morin sold 8,000 shares of the business’s stock in a transaction on Friday, November 28th. The stock was sold at an average price of $94.62, for a total value of $756,960.00. Following the sale, the chief financial officer directly owned 266,681 shares in the company, valued at $25,233,356.22. This trade represents a 2.91% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 220,666 shares of company stock valued at $20,728,673 over the last three months. Corporate insiders own 4.10% of the company’s stock.

Hedge Funds Weigh In On Arch Capital Group

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Advisors Asset Management Inc. raised its stake in shares of Arch Capital Group by 9.2% in the first quarter. Advisors Asset Management Inc. now owns 14,916 shares of the insurance provider’s stock valued at $1,435,000 after purchasing an additional 1,261 shares in the last quarter. Alliancebernstein L.P. lifted its position in Arch Capital Group by 10.6% during the 1st quarter. Alliancebernstein L.P. now owns 447,834 shares of the insurance provider’s stock valued at $43,073,000 after purchasing an additional 42,763 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Arch Capital Group by 5.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 42,474 shares of the insurance provider’s stock valued at $4,084,000 after acquiring an additional 2,224 shares during the last quarter. NewEdge Advisors LLC boosted its holdings in Arch Capital Group by 67.4% during the first quarter. NewEdge Advisors LLC now owns 26,168 shares of the insurance provider’s stock worth $2,517,000 after buying an additional 10,535 shares during the last quarter. Finally, UniSuper Management Pty Ltd boosted its position in shares of Arch Capital Group by 2.6% during the first quarter. UniSuper Management Pty Ltd now owns 35,163 shares of the insurance provider’s stock worth $3,382,000 after purchasing an additional 900 shares in the last quarter. Institutional investors and hedge funds own 89.07% of the company’s stock.

About Arch Capital Group

Arch Capital Group Ltd. (NASDAQ: ACGL) is a Bermuda-based insurance and reinsurance holding company that underwrites a broad range of property and casualty, mortgage, and specialty risk products. The company operates through a group of underwriting subsidiaries and platforms to provide insurance, reinsurance and related risk solutions tailored to commercial, institutional and individual clients.

Arch’s product mix includes treaty and facultative reinsurance, primary casualty and property insurance, mortgage insurance and other specialty lines.