Arch Capital Group (NASDAQ:ACGL) Hits New 12-Month High Following Analyst Upgrade

Shares of Arch Capital Group Ltd. (NASDAQ:ACGL) reached a new 52-week high on Tuesday after Morgan Stanley raised their price target on the stock from $105.00 to $110.00. Morgan Stanley currently has an overweight rating on the stock. Arch Capital Group traded as high as $104.28 and last traded at $103.7920, with a volume of 54812 shares trading hands. The stock had previously closed at $101.81.

Several other equities analysts have also issued reports on the stock. JPMorgan Chase & Co. cut their price target on shares of Arch Capital Group from $117.00 to $110.00 and set a “neutral” rating on the stock in a report on Monday, April 20th. Barclays boosted their target price on Arch Capital Group from $104.00 to $106.00 and gave the stock an “equal weight” rating in a research note on Wednesday, April 8th. Wells Fargo & Company increased their price target on Arch Capital Group from $109.00 to $110.00 and gave the company an “overweight” rating in a research note on Thursday, April 30th. Weiss Ratings downgraded Arch Capital Group from a “buy (b)” rating to a “buy (b-)” rating in a report on Monday, May 18th. Finally, Keefe, Bruyette & Woods cut their price objective on shares of Arch Capital Group from $105.00 to $102.00 and set a “market perform” rating on the stock in a report on Tuesday, May 5th. Eight equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $107.19.

Insider Activity

In other news, Director Daniel Joseph Houston bought 5,300 shares of the firm’s stock in a transaction that occurred on Thursday, April 30th. The stock was purchased at an average price of $94.08 per share, with a total value of $498,624.00. Following the completion of the acquisition, the director directly owned 9,915 shares of the company’s stock, valued at $932,803.20. This trade represents a 114.84% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Brian S. Posner sold 3,000 shares of the stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $19.66, for a total transaction of $58,980.00. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 3.30% of the company’s stock.

Institutional Investors Weigh In On Arch Capital Group

Several hedge funds have recently added to or reduced their stakes in the business. Elyxium Wealth LLC acquired a new position in shares of Arch Capital Group in the 4th quarter valued at about $27,000. WealthCollab LLC boosted its stake 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 buying an additional 238 shares during the last quarter. JPL Wealth Management LLC acquired a new stake in Arch Capital Group during the third quarter worth about $28,000. Grove Bank & Trust acquired a new stake in Arch Capital Group during the fourth quarter worth about $30,000. Finally, Aventura Private Wealth LLC purchased a new position in Arch Capital Group during the fourth quarter valued at approximately $30,000. 89.07% of the stock is owned by hedge funds and other institutional investors.

Arch Capital Group Stock Performance

The firm has a 50-day moving average of $93.93 and a two-hundred day moving average of $95.32. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 0.15. The company has a market capitalization of $36.46 billion, a PE ratio of 8.02, a PEG ratio of 5.11 and a beta of 0.31.

Arch Capital Group (NASDAQ:ACGL) last released its quarterly earnings data on Tuesday, March 31st. The insurance provider reported $2.50 EPS for the quarter. The business had revenue of $4.52 billion for the quarter. Arch Capital Group had a return on equity of 17.61% and a net margin of 24.64%. Research analysts anticipate that Arch Capital Group Ltd. will post 9.3 EPS for the current year.

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.