Arch Capital Group (NASDAQ:ACGL) Given New $109.00 Price Target at Wells Fargo & Company

Arch Capital Group (NASDAQ:ACGL) had its price objective upped by Wells Fargo & Company from $106.00 to $109.00 in a research report released on Wednesday,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the insurance provider’s stock.

A number of other equities research analysts have also recently weighed in on ACGL. The Goldman Sachs Group restated a “sell” rating and issued a $93.00 price target (up previously from $84.00) on shares of Arch Capital Group in a report on Wednesday, January 7th. Weiss Ratings raised Arch Capital Group from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, February 4th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $97.00 price target (up previously from $93.00) on shares of Arch Capital Group in a research note on Wednesday, January 14th. Royal Bank Of Canada set a $108.00 target price on shares of Arch Capital Group and gave the company an “outperform” rating in a research note on Monday, November 24th. Finally, Barclays set a $104.00 target price on Arch Capital Group and gave the stock an “equal weight” rating in a research report on Thursday, January 8th. Nine analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $108.67.

Arch Capital Group Stock Up 1.3%

Shares of Arch Capital Group stock traded up $1.26 on Wednesday, reaching $99.87. The stock had a trading volume of 797,976 shares, compared to its average volume of 2,203,417. Arch Capital Group has a 1 year low of $82.44 and a 1 year high of $103.39. The company has a 50 day moving average price of $94.85 and a 200 day moving average price of $91.74. The company has a quick ratio of 0.55, a current ratio of 0.53 and a debt-to-equity ratio of 0.13. The stock has a market capitalization of $36.21 billion, a P/E ratio of 8.59, a P/E/G ratio of 2.05 and a beta of 0.42.

Arch Capital Group (NASDAQ:ACGL) last released its earnings results on Monday, February 9th. The insurance provider reported $2.98 EPS for the quarter, topping analysts’ consensus estimates of $2.34 by $0.64. Arch Capital Group had a return on equity of 16.73% and a net margin of 22.07%.The firm had revenue of $3.80 billion during the quarter, compared to the consensus estimate of $3.94 billion. During the same quarter in the previous year, the company posted $2.26 earnings per share. As a group, equities research analysts forecast that Arch Capital Group will post 8.42 EPS for the current year.

Insider Transactions at Arch Capital Group

In related news, CFO Francois Morin sold 8,000 shares of the stock in a transaction dated Friday, November 28th. The shares were sold at an average price of $94.62, for a total transaction of $756,960.00. Following the completion of the sale, the chief financial officer owned 266,681 shares in the company, valued at $25,233,356.22. This trade represents a 2.91% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider John M. Pasquesi sold 203,866 shares of the business’s stock in a transaction dated Friday, December 12th. The shares were sold at an average price of $93.90, for a total transaction of $19,143,017.40. Following the completion of the transaction, the insider owned 351,356 shares in the company, valued at approximately $32,992,328.40. This trade represents a 36.72% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 220,666 shares of company stock valued at $20,728,673. Corporate insiders own 4.20% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its position in shares of Arch Capital Group by 1.2% during the second quarter. Vanguard Group Inc. now owns 42,414,557 shares of the insurance provider’s stock worth $3,861,845,000 after acquiring an additional 493,583 shares in the last quarter. Artisan Partners Limited Partnership grew its stake in Arch Capital Group by 1.7% during the second quarter. Artisan Partners Limited Partnership now owns 23,833,290 shares of the insurance provider’s stock worth $2,170,021,000 after buying an additional 408,950 shares in the last quarter. WCM Investment Management LLC raised its position in shares of Arch Capital Group by 1.3% in the 3rd 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 in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Arch Capital Group by 1.1% during the 2nd quarter. Geode Capital Management LLC now owns 10,502,003 shares of the insurance provider’s stock worth $952,523,000 after acquiring an additional 115,465 shares during the period. Finally, JPMorgan Chase & Co. increased its stake in Arch Capital Group by 4.6% in the third quarter. JPMorgan Chase & Co. now owns 8,190,927 shares of the insurance provider’s stock valued at $743,168,000 after acquiring an additional 360,626 shares during the last quarter. Institutional investors and hedge funds 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.