Arch Capital Group (NASDAQ:ACGL – Free Report) had its price objective boosted by Jefferies Financial Group from $114.00 to $134.00 in a research note issued to investors on Wednesday, Benzinga reports. They currently have a buy rating on the insurance provider’s stock.
Several other equities research analysts have also recently issued reports on the company. Wells Fargo & Company cut their price target on Arch Capital Group from $111.00 to $110.00 and set an overweight rating for the company in a research note on Monday, August 12th. JPMorgan Chase & Co. boosted their price target on Arch Capital Group from $106.00 to $108.00 and gave the company a neutral rating in a research note on Wednesday, July 31st. Roth Mkm boosted their price target on Arch Capital Group from $110.00 to $125.00 and gave the company a buy rating in a research note on Friday, August 23rd. Barclays began coverage on Arch Capital Group in a research note on Wednesday, September 4th. They set an equal weight rating and a $120.00 target price for the company. Finally, JMP Securities upped their target price on Arch Capital Group from $110.00 to $115.00 and gave the stock a market outperform rating in a research note on Wednesday, July 31st. Five equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and an average price target of $118.87.
Get Our Latest Analysis on ACGL
Arch Capital Group Price Performance
Arch Capital Group (NASDAQ:ACGL – Get Free Report) last issued its quarterly earnings results on Tuesday, July 30th. The insurance provider reported $2.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.21 by $0.36. The business had revenue of $3.78 billion during the quarter, compared to analysts’ expectations of $3.89 billion. Arch Capital Group had a return on equity of 21.42% and a net margin of 35.19%. The firm’s revenue for the quarter was up 10.3% compared to the same quarter last year. During the same period in the previous year, the company posted $1.92 earnings per share. On average, analysts predict that Arch Capital Group will post 9.11 EPS for the current year.
Insider Activity
In other news, CFO Francois Morin sold 11,460 shares of the stock in a transaction on Friday, August 16th. The stock was sold at an average price of $102.46, for a total value of $1,174,191.60. Following the completion of the transaction, the chief financial officer now directly owns 221,779 shares in the company, valued at approximately $22,723,476.34. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 4.20% of the stock is owned by corporate insiders.
Institutional Trading of Arch Capital Group
Institutional investors and hedge funds have recently bought and sold shares of the stock. UMB Bank n.a. acquired a new stake in Arch Capital Group in the second quarter valued at $30,000. Baldwin Brothers LLC MA increased its holdings in Arch Capital Group by 50.7% in the second quarter. Baldwin Brothers LLC MA now owns 309 shares of the insurance provider’s stock valued at $31,000 after purchasing an additional 104 shares during the period. Rothschild Investment LLC acquired a new stake in Arch Capital Group in the second quarter valued at $35,000. LRI Investments LLC acquired a new stake in Arch Capital Group in the first quarter valued at $40,000. Finally, Compagnie Lombard Odier SCmA acquired a new stake in Arch Capital Group in the third quarter valued at $46,000. 89.07% of the stock is currently owned by institutional investors and hedge funds.
About Arch Capital Group
Arch Capital Group Ltd., together with its subsidiaries, provides insurance, reinsurance, and mortgage insurance products worldwide. The company's Insurance segment offers primary and excess casualty coverages; loss sensitive primary casualty insurance programs; directors' and officers' liability, errors and omissions liability, employment practices and fiduciary liability, crime, professional indemnity, and other financial related coverages; medical professional and general liability insurance coverages; and workers' compensation and umbrella liability, as well as commercial automobile and inland marine products.
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