Mizuho Forecasts Strong Price Appreciation for Arch Capital Group (NASDAQ:ACGL) Stock

Arch Capital Group (NASDAQ:ACGL) had its price objective boosted by research analysts at Mizuho from $101.00 to $104.00 in a report issued on Thursday,Benzinga reports. The firm currently has a “neutral” rating on the insurance provider’s stock. Mizuho’s target price points to a potential upside of 1.95% from the company’s previous close.

ACGL has been the topic of several other reports. Morgan Stanley lifted their price target on shares of Arch Capital Group from $105.00 to $110.00 and gave the company an “overweight” rating in a research note on Monday. Citigroup lifted their target price on Arch Capital Group from $120.00 to $122.50 and gave the company a “buy” rating in a research report on Thursday, April 30th. Barclays upped their target price on Arch Capital Group from $104.00 to $106.00 and gave the stock an “equal weight” rating in a report on Wednesday, April 8th. Weiss Ratings cut Arch Capital Group from a “buy (b)” rating to a “buy (b-)” rating in a research report on Monday, May 18th. Finally, 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 note on Wednesday. Eight equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Arch Capital Group has an average rating of “Hold” and an average target price of $107.65.

Arch Capital Group Stock Performance

Shares of Arch Capital Group stock opened at $102.01 on Thursday. The stock has a market cap of $35.64 billion, a PE ratio of 7.83, a price-to-earnings-growth ratio of 5.16 and a beta of 0.31. Arch Capital Group has a 12 month low of $82.44 and a 12 month high of $105.09. 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 business has a fifty day simple moving average of $94.18 and a 200-day simple moving average of $95.41.

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

Insider Activity at Arch Capital Group

In other Arch Capital Group news, 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 value of $58,980.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Daniel Joseph Houston acquired 5,300 shares of the business’s stock in a transaction dated Thursday, April 30th. The stock was acquired at an average price of $94.08 per share, for a total transaction of $498,624.00. Following the completion of the transaction, the director owned 9,915 shares in the company, valued at approximately $932,803.20. The trade was a 114.84% increase in their position. The SEC filing for this purchase provides additional information. Company insiders own 3.30% of the company’s stock.

Hedge Funds Weigh In On Arch Capital Group

Hedge funds and other institutional investors have recently modified their holdings of the stock. Elyxium Wealth LLC bought a new position in Arch Capital Group in the fourth quarter worth about $27,000. WealthCollab LLC boosted its position in Arch Capital Group by 410.3% during the 3rd quarter. WealthCollab LLC now owns 296 shares of the insurance provider’s stock valued at $27,000 after acquiring an additional 238 shares in the last quarter. JPL Wealth Management LLC purchased a new position in shares of Arch Capital Group during the 3rd quarter worth approximately $28,000. Grove Bank & Trust purchased a new position in shares of Arch Capital Group during the 4th quarter worth approximately $30,000. Finally, Aventura Private Wealth LLC bought a new position in shares of Arch Capital Group in the 4th quarter worth approximately $30,000. Hedge funds and other institutional investors own 89.07% of the company’s stock.

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.