Arch Capital Group (NASDAQ:ACGL) Given New $117.00 Price Target at Wells Fargo & Company

Key Points

• Wells Fargo raised Arch Capital Group’s price target from $114 to $117 and maintained an “overweight” rating, implying 16.25% potential upside from the prior close.
• Analyst sentiment is mixed overall: eight analysts rate ACGL a Buy, seven rate it Hold, and one rates it Sell, resulting in a consensus “Hold” rating and a $110.04 average target.
• Arch Capital exceeded quarterly earnings expectations, reporting $2.56 in EPS versus the $2.47 consensus estimate, while revenue reached $8.72 billion against expectations of $4.36 billion.

Arch Capital Group (NASDAQ:ACGL - Get Free Report) had its price target increased by analysts at Wells Fargo & Company from $114.00 to $117.00 in a note issued to investors on Thursday,Benzinga reports. The firm currently has an "overweight" rating on the insurance provider's stock. Wells Fargo & Company's target price points to a potential upside of 16.25% from the company's previous close.

A number of other brokerages have also issued reports on ACGL. JPMorgan Chase & Co. lifted their target price on Arch Capital Group from $110.00 to $116.00 and gave the stock a "neutral" rating in a research report on Monday, July 20th. Morgan Stanley upped their price objective on Arch Capital Group from $105.00 to $110.00 and gave the company an "overweight" rating in a research note on Monday, July 6th. UBS Group restated a "buy" rating and issued a $120.00 price target (up from $114.00) on shares of Arch Capital Group in a research report on Wednesday, July 8th. Barclays boosted their price objective on Arch Capital Group from $104.00 to $106.00 and gave the company an "equal weight" rating in a research report on Wednesday, April 8th. Finally, Cantor Fitzgerald reaffirmed a "neutral" rating and issued a $102.00 price objective (up from $100.00) on shares of Arch Capital Group in a report on Thursday, July 9th. Eight equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $110.04.

Arch Capital Group Stock Performance

Shares of ACGL stock opened at $100.64 on Thursday. Arch Capital Group has a 52 week low of $82.44 and a 52 week high of $107.08. The company has a market cap of $35.16 billion, a PE ratio of 7.91, a P/E/G ratio of 5.30 and a beta of 0.31. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 0.15. The company's fifty day simple moving average is $96.32 and its 200-day simple moving average is $96.03.

Arch Capital Group (NASDAQ:ACGL - Get Free Report) last issued its quarterly earnings data on Tuesday, July 28th. The insurance provider reported $2.56 EPS for the quarter, topping analysts' consensus estimates of $2.47 by $0.09. The company had revenue of $8.72 billion for the quarter, compared to analysts' expectations of $4.36 billion. Arch Capital Group had a return on equity of 17.06% and a net margin of 24.40%.During the same quarter in the previous year, the firm posted $2.58 earnings per share. As a group, equities research analysts anticipate that Arch Capital Group will post 9.34 EPS for the current year.

Insider Transactions at Arch Capital Group

In other news, Director Brian S. Posner sold 3,000 shares of the stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $19.66, for a total value of $58,980.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 3.30% of the stock is currently owned by company insiders.

Institutional Trading of Arch Capital Group

A number of hedge funds have recently made changes to their positions in the stock. Elyxium Wealth LLC purchased a new stake in Arch Capital Group in the 4th quarter worth approximately $27,000. WealthCollab LLC grew its stake in Arch Capital Group by 410.3% in the 3rd quarter. WealthCollab LLC now owns 296 shares of the insurance provider's stock valued at $27,000 after buying an additional 238 shares during the last quarter. Torren Management LLC increased its stake in shares of Arch Capital Group by 66.9% in the second quarter. Torren Management LLC now owns 292 shares of the insurance provider's stock worth $28,000 after purchasing an additional 117 shares during the period. JPL Wealth Management LLC bought a new position in Arch Capital Group in the 3rd quarter worth approximately $28,000. Finally, TD Waterhouse Canada Inc. increased its position in Arch Capital Group by 72.7% during the fourth quarter. TD Waterhouse Canada Inc. now owns 323 shares of the insurance provider's stock worth $31,000 after acquiring an additional 136 shares during the period. 89.07% of the stock is owned by hedge funds and other institutional investors.

Arch Capital Group Company Profile

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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