JPMorgan Chase & Co. Boosts Arch Capital Group (NASDAQ:ACGL) Price Target to $108.00

Arch Capital Group (NASDAQ:ACGL) had its price target hoisted by JPMorgan Chase & Co. from $106.00 to $108.00 in a research report released on Wednesday, Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the insurance provider’s stock.

A number of other equities analysts have also commented on ACGL. JMP Securities lifted their price target on shares of Arch Capital Group from $100.00 to $110.00 and gave the stock a market outperform rating in a report on Tuesday, April 30th. Evercore ISI lifted their target price on Arch Capital Group from $98.00 to $100.00 and gave the stock an in-line rating in a report on Tuesday, April 30th. Roth Mkm reissued a buy rating and issued a $110.00 price target on shares of Arch Capital Group in a research note on Tuesday, April 30th. Wells Fargo & Company lifted their price objective on Arch Capital Group from $109.00 to $110.00 and gave the stock an overweight rating in a research note on Wednesday, May 1st. Finally, StockNews.com raised shares of Arch Capital Group from a hold rating to a buy rating in a research report on Thursday, July 4th. Five equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, Arch Capital Group has an average rating of Moderate Buy and an average price target of $104.53.

Arch Capital Group Price Performance

Shares of ACGL opened at $98.67 on Wednesday. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 0.17. The stock has a market cap of $37.05 billion, a PE ratio of 7.79, a PEG ratio of 1.60 and a beta of 0.58. Arch Capital Group has a 12-month low of $72.85 and a 12-month high of $103.79. The business has a 50-day simple moving average of $99.13 and a two-hundred day simple moving average of $93.12.

Arch Capital Group (NASDAQ:ACGL) last released its quarterly earnings data 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. Arch Capital Group had a return on equity of 22.39% and a net margin of 35.19%. The company had revenue of $3.78 billion during the quarter, compared to the consensus estimate of $3.89 billion. During the same quarter in the prior year, the firm posted $1.92 earnings per share. The firm’s revenue was up 10.3% compared to the same quarter last year. Analysts anticipate that Arch Capital Group will post 8.58 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Arch Capital Group news, CEO David Gansberg sold 10,000 shares of the firm’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $96.64, for a total value of $966,400.00. Following the completion of the sale, the chief executive officer now directly owns 228,035 shares in the company, valued at $22,037,302.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 4.20% of the stock is owned by insiders.

Institutional Investors Weigh In On Arch Capital Group

A number of hedge funds have recently added to or reduced their stakes in ACGL. Global Retirement Partners LLC raised its position in shares of Arch Capital Group by 5.7% during the fourth quarter. Global Retirement Partners LLC now owns 3,960 shares of the insurance provider’s stock worth $310,000 after purchasing an additional 214 shares during the period. Householder Group Estate & Retirement Specialist LLC acquired a new position in Arch Capital Group during the fourth quarter worth $27,000. Trust Point Inc. acquired a new position in Arch Capital Group during the fourth quarter worth $400,000. Leavell Investment Management Inc. lifted its stake in shares of Arch Capital Group by 14.3% in the fourth quarter. Leavell Investment Management Inc. now owns 4,000 shares of the insurance provider’s stock valued at $297,000 after buying an additional 500 shares in the last quarter. Finally, KG&L Capital Management LLC grew its holdings in shares of Arch Capital Group by 107.5% during the fourth quarter. KG&L Capital Management LLC now owns 7,462 shares of the insurance provider’s stock valued at $554,000 after buying an additional 3,866 shares during the last quarter. Institutional investors and hedge funds own 89.07% of the company’s stock.

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.