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

Key Points

• Wells Fargo Raised Target: Wells Fargo bumped its price target on Arch Capital Group to $110 and maintained an "overweight" rating, implying about a 17.94% upside from the current share price.
• Analyst Consensus Mixed: The Street is split—eight Buy, eight Hold and one Sell—resulting in an average consensus rating of "Hold" with a consensus target of $107.86.
• Market and Insider Activity: ACGL is trading near $93.27 with a $33.23B market cap and a P/E of 8.02 after reporting $2.50 EPS for the quarter, while insiders sold 78,267 shares (~$7.29M) over the past 90 days.

Arch Capital Group (NASDAQ:ACGL - Get Free Report) had its price target increased by analysts at Wells Fargo & Company from $109.00 to $110.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has an "overweight" rating on the insurance provider's stock. Wells Fargo & Company's price target would suggest a potential upside of 17.94% from the stock's current price.

Other equities research analysts have also issued research reports about the company. Morgan Stanley set a $125.00 price target on Arch Capital Group in a research report on Friday, January 16th. JPMorgan Chase & Co. reduced 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. Weiss Ratings raised shares of Arch Capital Group from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Wednesday, February 4th. Barclays raised their price target 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. Finally, Evercore set a $100.00 price target on shares of Arch Capital Group and gave the stock an "in-line" rating in a research report on Wednesday, January 7th. Eight analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, Arch Capital Group has an average rating of "Hold" and a consensus target price of $107.86.

Arch Capital Group Trading Up 0.6%

Shares of NASDAQ ACGL opened at $93.27 on Thursday. The firm has a 50 day moving average price of $96.45 and a two-hundred day moving average price of $94.20. The stock has a market cap of $33.23 billion, a P/E ratio of 8.02, a price-to-earnings-growth ratio of 4.80 and a beta of 0.41. Arch Capital Group has a 52-week low of $82.44 and a 52-week high of $103.39. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.53 and a current ratio of 0.53.

Arch Capital Group (NASDAQ:ACGL - Get Free Report) last issued its quarterly earnings results on Tuesday, March 31st. The insurance provider reported $2.50 EPS for the quarter. The company had revenue of $4.52 billion for the quarter. Arch Capital Group had a net margin of 22.07% and a return on equity of 16.73%. As a group, equities analysts forecast that Arch Capital Group will post 9.34 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Nicolas Papadopoulo sold 21,930 shares of the firm's stock in a transaction that occurred on Tuesday, March 10th. The shares were sold at an average price of $96.31, for a total transaction of $2,112,078.30. Following the completion of the sale, the chief executive officer owned 871,594 shares of the company's stock, valued at $83,943,218.14. This trade represents a 2.45% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Maamoun Rajeh sold 47,430 shares of Arch Capital Group stock in a transaction on Wednesday, February 11th. The shares were sold at an average price of $96.12, for a total transaction of $4,558,971.60. Following the completion of the sale, the insider owned 433,589 shares of the company's stock, valued at $41,676,574.68. This represents a 9.86% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 78,267 shares of company stock valued at $7,291,637 in the last ninety days. 3.30% of the stock is owned by corporate insiders.

Institutional Trading of Arch Capital Group

Large investors have recently made changes to their positions in the company. WCM Investment Management LLC grew its holdings in shares of Arch Capital Group by 1.3% during the third quarter. WCM Investment Management LLC now owns 13,525,402 shares of the insurance provider's stock valued at $1,214,987,000 after buying an additional 171,693 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Arch Capital Group by 4.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 8,190,927 shares of the insurance provider's stock worth $743,168,000 after acquiring an additional 360,626 shares during the last quarter. Norges Bank acquired a new stake in shares of Arch Capital Group in the 4th quarter worth about $463,208,000. Morgan Stanley lifted its position in Arch Capital Group by 0.8% in the 4th quarter. Morgan Stanley now owns 4,289,082 shares of the insurance provider's stock valued at $411,409,000 after acquiring an additional 33,132 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its position in Arch Capital Group by 5.7% in the 4th quarter. Goldman Sachs Group Inc. now owns 2,949,978 shares of the insurance provider's stock valued at $282,962,000 after acquiring an additional 160,326 shares in the last quarter. 89.07% of the stock is currently owned by institutional investors and hedge funds.

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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