Wells Fargo & Company Boosts Arch Capital Group (NASDAQ:ACGL) Price Target to $110.00

Arch Capital Group (NASDAQ:ACGL - Free Report) had its target price lifted by Wells Fargo & Company from $108.00 to $110.00 in a research note published on Thursday,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the insurance provider's stock.

Other analysts have also recently issued reports about the stock. JPMorgan Chase & Co. lifted their price objective on shares of Arch Capital Group from $106.00 to $107.00 and gave the company a "neutral" rating in a research note on Tuesday, April 8th. Morgan Stanley set a $110.00 target price on shares of Arch Capital Group and gave the company an "overweight" rating in a report on Monday, May 19th. JMP Securities reaffirmed a "market outperform" rating and set a $125.00 target price on shares of Arch Capital Group in a report on Wednesday, April 30th. Jefferies Financial Group lowered shares of Arch Capital Group from a "buy" rating to a "hold" rating and cut their target price for the company from $106.00 to $100.00 in a report on Tuesday, June 10th. Finally, Keefe, Bruyette & Woods reaffirmed a "market perform" rating and set a $101.00 target price (down from $113.00) on shares of Arch Capital Group in a report on Wednesday. Eight analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, Arch Capital Group presently has a consensus rating of "Moderate Buy" and a consensus price target of $113.60.

Arch Capital Group Stock Performance

Shares of Arch Capital Group stock traded down $0.72 during midday trading on Thursday, hitting $87.84. The company had a trading volume of 1,943,647 shares, compared to its average volume of 1,738,753. The stock has a market cap of $32.92 billion, a price-to-earnings ratio of 9.00, a PEG ratio of 6.07 and a beta of 0.51. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 0.16. The company has a fifty day simple moving average of $91.96 and a 200 day simple moving average of $92.02. Arch Capital Group has a 12-month low of $82.49 and a 12-month high of $116.47.

Arch Capital Group (NASDAQ:ACGL - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The insurance provider reported $1.54 EPS for the quarter, missing the consensus estimate of $1.59 by ($0.05). Arch Capital Group had a net margin of 20.72% and a return on equity of 15.79%. The company had revenue of $4.52 billion during the quarter, compared to analysts' expectations of $4.75 billion. During the same period in the previous year, the business earned $2.45 earnings per share. The business's revenue for the quarter was up 10.5% compared to the same quarter last year. As a group, analysts predict that Arch Capital Group will post 8.42 earnings per share for the current fiscal year.

Insider Buying and Selling at Arch Capital Group

In related news, CEO Nicolas Papadopoulo sold 7,636 shares of the business's stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $92.48, for a total transaction of $706,177.28. Following the transaction, the chief executive officer directly owned 795,718 shares in the company, valued at approximately $73,588,000.64. The trade was a 0.95% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider John M. Pasquesi sold 75,060 shares of the business's stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $94.01, for a total transaction of $7,056,390.60. Following the transaction, the insider owned 579,218 shares in the company, valued at $54,452,284.18. The trade was a 11.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 111,976 shares of company stock valued at $10,531,038. Insiders own 4.20% of the company's stock.

Hedge Funds Weigh In On Arch Capital Group

A number of institutional investors have recently bought and sold shares of ACGL. Capital A Wealth Management LLC purchased a new position in Arch Capital Group during the fourth quarter worth about $25,000. Bartlett & CO. Wealth Management LLC purchased a new position in Arch Capital Group during the first quarter worth about $27,000. Meeder Asset Management Inc. raised its stake in Arch Capital Group by 116.3% during the first quarter. Meeder Asset Management Inc. now owns 279 shares of the insurance provider's stock worth $27,000 after purchasing an additional 150 shares during the period. Wayfinding Financial LLC purchased a new position in Arch Capital Group during the first quarter worth about $31,000. Finally, Zions Bancorporation National Association UT purchased a new position in Arch Capital Group during the first quarter worth about $37,000. 89.07% of the stock is 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.