Arch Capital Group (NASDAQ:ACGL) Given New $103.00 Price Target at Evercore

Arch Capital Group (NASDAQ:ACGL) had its price target decreased by Evercore from $105.00 to $103.00 in a report released on Wednesday.

A number of other research analysts have also issued reports on ACGL. Wells Fargo & Company restated an “overweight” rating and set a $107.00 price objective (down from $117.00) on shares of Arch Capital Group in a research report on Monday, October 12th. Royal Bank Of Canada reiterated an “outperform” rating and set a $120.00 price objective (up from $115.00) on shares of Arch Capital Group in a research report on Thursday, July 30th. Atlantic Securities set a $126.00 target price on Arch Capital Group in a research note on Wednesday, July 15th. Jefferies Financial Group boosted their price target on Arch Capital Group from $102.00 to $106.00 and gave the stock a “hold” rating in a research report on Thursday. Finally, JPMorgan Chase & Co. dropped their price objective on Arch Capital Group from $118.00 to $113.00 and set a “neutral” rating on the stock in a research note on Friday, October 9th. Seven equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $109.94.

Arch Capital Group Price Performance

ACGL stock traded up $2.42 during midday trading on Wednesday, hitting $106.36. 2,479,819 shares of the stock were exchanged, compared to its average volume of 2,354,857. Arch Capital Group has a fifty-two week low of $84.69 and a fifty-two week high of $107.08. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.57 and a current ratio of 0.56. The stock’s 50-day moving average price is $97.80 and its 200-day moving average price is $96.70. The stock has a market cap of $36.29 billion, a price-to-earnings ratio of 8.70, a PEG ratio of 3.03 and a beta of 0.28.

Arch Capital Group (NASDAQ:ACGL) last released its earnings results on Tuesday, October 27th. The insurance provider reported $2.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.31 by $0.36. Arch Capital Group had a net margin of 23.31% and a return on equity of 16.62%. The company had revenue of $4.66 billion for the quarter, compared to analyst estimates of $4.06 billion. During the same period in the prior year, the firm earned $2.77 EPS. Research analysts predict that Arch Capital Group will post 9.86 earnings per share for the current year.

Insider Activity

In other Arch Capital Group news, CFO Francois Morin sold 11,010 shares of the stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $99.32, for a total transaction of $1,093,513.20. Following the completion of the transaction, the chief financial officer owned 184,826 shares in the company, valued at approximately $18,356,918.32. This represents a 5.62% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 3.30% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Arch Capital Group

Hedge funds and other institutional investors have recently made changes to their positions in the company. Provenance Wealth Advisors LLC bought a new position in shares of Arch Capital Group during the 3rd quarter worth approximately $55,000. ARGA Investment Management LP acquired a new stake in Arch Capital Group during the third quarter worth about $26,656,000. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Arch Capital Group during the 3rd quarter worth $9,569,000. Profund Advisors LLC grew its holdings in shares of Arch Capital Group by 8.5% during the 3rd quarter. Profund Advisors LLC now owns 3,163 shares of the insurance provider’s stock valued at $292,000 after purchasing an additional 247 shares during the last quarter. Finally, Vise Technologies Inc. increased its holdings in Arch Capital Group by 8.1% in the 3rd quarter. Vise Technologies Inc. now owns 25,727 shares of the insurance provider’s stock worth $2,376,000 after purchasing an additional 1,936 shares in the last quarter. 89.07% of the stock is owned by institutional investors.

About Arch Capital Group

Arch Capital Group Ltd. is a Bermuda-based insurance, reinsurance and mortgage insurance company whose shares trade on the Nasdaq under the symbol ACGL. The company was established in 1995 and has developed into a global provider of specialty risk-management products and services.

Through its insurance operations, Arch offers property, casualty, specialty, and accident and health coverage to businesses and other policyholders. Its reinsurance operations provide coverage and risk-transfer solutions to insurance companies across a range of property and casualty lines.