Arch Capital Group (NASDAQ:ACGL) Price Target Raised to $122.50

Key Points

• Citigroup raised its price target on Arch Capital Group from $120 to $122.50 and maintained a "buy" rating, implying roughly a 29.7% upside from the current share price.
• Analyst coverage is mixed—eight Buys, eight Holds and one Sell—giving a consensus price target of $108.04; ACGL trades around $94.42 with a PE of 8.12 and a market cap near $33.6 billion.
• Insiders have been net sellers, offloading 78,267 shares (~$7.29M) in the last 90 days (insiders now own 3.30%), while institutional investors hold about 89.07% of the stock.

Arch Capital Group (NASDAQ:ACGL - Get Free Report) had its price objective increased by investment analysts at Citigroup from $120.00 to $122.50 in a report released on Thursday,Benzinga reports. The brokerage presently has a "buy" rating on the insurance provider's stock. Citigroup's price objective would indicate a potential upside of 29.74% from the stock's current price.

Several other brokerages have also issued reports on ACGL. Wells Fargo & Company increased their price target on shares of Arch Capital Group from $109.00 to $110.00 and gave the stock an "overweight" rating in a research note on Thursday. The Goldman Sachs Group reiterated a "sell" rating and issued a $93.00 price target (up from $84.00) on shares of Arch Capital Group in a research note on Wednesday, January 7th. Keefe, Bruyette & Woods raised their price objective on Arch Capital Group from $104.00 to $105.00 and gave the company a "market perform" rating in a research report on Tuesday, April 7th. Royal Bank Of Canada raised their price objective on Arch Capital Group from $108.00 to $115.00 and gave the company an "outperform" rating in a research report on Wednesday, February 11th. Finally, Mizuho raised their price objective on Arch Capital Group from $95.00 to $102.00 and gave the company a "neutral" rating in a research report on Thursday, February 12th. Eight analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $108.04.

Arch Capital Group Stock Up 1.8%

Shares of NASDAQ:ACGL traded up $1.70 during trading on Thursday, hitting $94.42. The stock had a trading volume of 1,750,808 shares, compared to its average volume of 2,014,730. Arch Capital Group has a 12 month low of $82.44 and a 12 month high of $103.39. The company has a market capitalization of $33.64 billion, a PE ratio of 8.12, a PEG ratio of 4.80 and a beta of 0.41. The firm's fifty day moving average is $96.45 and its 200 day moving average is $94.20. The company has a quick ratio of 0.53, a current ratio of 0.53 and a debt-to-equity ratio of 0.13.

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

Insiders Place Their Bets

In other news, insider David Gansberg sold 5,907 shares of Arch Capital Group stock in a transaction that occurred on Tuesday, March 10th. The shares were sold at an average price of $96.37, for a total value of $569,257.59. Following the completion of the sale, the insider directly owned 336,559 shares in the company, valued at $32,434,190.83. The trade was a 1.72% decrease in their ownership of the stock. The sale was disclosed in a legal 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 that occurred on Wednesday, February 11th. The stock was 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 ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 78,267 shares of company stock worth $7,291,637 in the last 90 days. 3.30% of the stock is currently owned by company insiders.

Institutional Trading of Arch Capital Group

Several large investors have recently modified their holdings of ACGL. Personal CFO Solutions LLC grew its position in Arch Capital Group by 1.4% during the first quarter. Personal CFO Solutions LLC now owns 10,238 shares of the insurance provider's stock valued at $983,000 after buying an additional 145 shares during the period. Sageworth Trust Co bought a new stake in shares of Arch Capital Group during the 1st quarter valued at $320,000. Quantum Portfolio Management LLC grew its position in shares of Arch Capital Group by 20.7% during the 1st quarter. Quantum Portfolio Management LLC now owns 6,752 shares of the insurance provider's stock valued at $648,000 after acquiring an additional 1,160 shares during the period. Childress Capital Advisors LLC bought a new stake in shares of Arch Capital Group during the 1st quarter valued at $293,000. Finally, Resonant Capital Advisors LLC grew its position in shares of Arch Capital Group by 4.8% during the 1st quarter. Resonant Capital Advisors LLC now owns 8,827 shares of the insurance provider's stock valued at $847,000 after acquiring an additional 403 shares during the period. Institutional investors 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.