Arch Capital Group (NASDAQ:ACGL) Given New $114.00 Price Target at Wells Fargo & Company

Key Points

• Wells Fargo raised its price target on Arch Capital Group to $114 from $110 and maintained an overweight rating, implying about 12.6% upside from the prior close.
• Arch Capital Group shares were down 0.8% to $101.23 in Thursday trading, while the stock has traded between $82.44 and $105.09 over the past 12 months.
• Recent company updates included mixed insider activity—Director Daniel Joseph Houston bought shares, while Director Brian S. Posner sold shares—and analysts overall rate the stock as a Hold with an average target of $108.12.

Arch Capital Group (NASDAQ:ACGL - Get Free Report) had its price objective raised by equities research analysts at Wells Fargo & Company from $110.00 to $114.00 in a report issued on Thursday,Benzinga reports. The firm presently has an "overweight" rating on the insurance provider's stock. Wells Fargo & Company's target price would suggest a potential upside of 12.62% from the stock's previous close.

Other research analysts have also recently issued research reports about the stock. Barclays increased their target price on shares of Arch Capital Group from $104.00 to $106.00 and gave the stock an "equal weight" rating in a report on Wednesday, April 8th. Cantor Fitzgerald restated a "neutral" rating and set a $102.00 price objective (up from $100.00) on shares of Arch Capital Group in a research note on Thursday. Keefe, Bruyette & Woods lowered their target price on Arch Capital Group from $102.00 to $99.00 and set a "market perform" rating on the stock in a research report on Wednesday. JPMorgan Chase & Co. dropped their target price on Arch Capital Group from $117.00 to $110.00 and set a "neutral" rating on the stock in a report on Monday, April 20th. Finally, Mizuho raised their price target on Arch Capital Group from $101.00 to $104.00 and gave the company a "neutral" rating in a research note on Thursday. Eight equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $108.12.

Arch Capital Group Stock Down 0.8%

ACGL stock traded down $0.78 during trading hours on Thursday, reaching $101.23. 607,427 shares of the stock were exchanged, compared to its average volume of 2,161,207. The firm's 50-day moving average is $94.18 and its 200-day moving average is $95.41. Arch Capital Group has a 12 month low of $82.44 and a 12 month high of $105.09. The company has a market cap of $35.37 billion, a price-to-earnings ratio of 7.78, a PEG ratio of 5.16 and a beta of 0.31. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.55 and a quick ratio of 0.55.

Arch Capital Group (NASDAQ:ACGL - Get Free Report) last posted its quarterly earnings data on Tuesday, March 31st. The insurance provider reported $2.50 earnings per share (EPS) for the quarter. Arch Capital Group had a return on equity of 17.61% and a net margin of 24.64%.The business had revenue of $4.52 billion during the quarter. On average, equities research analysts expect that Arch Capital Group will post 9.28 earnings per share for the current year.

Insider Activity

In other Arch Capital Group news, Director Daniel Joseph Houston bought 5,300 shares of the business's stock in a transaction on Thursday, April 30th. The stock was purchased at an average cost of $94.08 per share, for a total transaction of $498,624.00. Following the completion of the purchase, the director directly owned 9,915 shares of the company's stock, valued at approximately $932,803.20. This trade represents a 114.84% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Brian S. Posner sold 3,000 shares of the firm's stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $19.66, for a total value of $58,980.00. The SEC filing for this sale provides additional information. Corporate insiders own 3.30% of the company's stock.

Hedge Funds Weigh In On Arch Capital Group

A number of institutional investors have recently modified their holdings of ACGL. Elyxium Wealth LLC bought a new position in Arch Capital Group in the fourth quarter valued at about $27,000. WealthCollab LLC lifted its holdings in shares of Arch Capital Group by 410.3% in the third quarter. WealthCollab LLC now owns 296 shares of the insurance provider's stock worth $27,000 after acquiring an additional 238 shares during the last quarter. JPL Wealth Management LLC acquired a new stake in shares of Arch Capital Group in the 3rd quarter valued at approximately $28,000. Grove Bank & Trust acquired a new stake in shares of Arch Capital Group in the 4th quarter valued at approximately $30,000. Finally, Aventura Private Wealth LLC bought a new stake in shares of Arch Capital Group during the 4th quarter valued at approximately $30,000. 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.

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