Citigroup Boosts Arch Capital Group (NASDAQ:ACGL) Price Target to $114.00

Arch Capital Group (NASDAQ:ACGL) had its target price hoisted by Citigroup from $105.00 to $114.00 in a research report released on Tuesday morning, Benzinga reports. They currently have a neutral rating on the insurance provider’s stock.

A number of other analysts have also weighed in on the stock. StockNews.com lowered shares of Arch Capital Group from a buy rating to a hold rating in a report on Wednesday, July 31st. Deutsche Bank Aktiengesellschaft lifted their price objective on Arch Capital Group from $110.00 to $120.00 and gave the stock a buy rating in a research report on Monday, July 1st. Evercore ISI upped their target price on Arch Capital Group from $100.00 to $104.00 and gave the company an in-line rating in a report on Wednesday, July 31st. Roth Mkm raised their price target on Arch Capital Group from $110.00 to $125.00 and gave the stock a buy rating in a research note on Friday, August 23rd. Finally, Bank of America reduced their price objective on shares of Arch Capital Group from $119.00 to $118.00 and set a buy rating on the stock in a research report on Thursday, July 11th. Five research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of Moderate Buy and a consensus price target of $110.93.

Arch Capital Group Price Performance

ACGL opened at $110.26 on Tuesday. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.60 and a quick ratio of 0.60. The stock’s 50 day simple moving average is $102.30 and its 200 day simple moving average is $97.83. The firm has a market cap of $41.40 billion, a price-to-earnings ratio of 8.70, a PEG ratio of 2.00 and a beta of 0.59. Arch Capital Group has a 1 year low of $72.85 and a 1 year high of $114.65.

Arch Capital Group (NASDAQ:ACGL) last issued its earnings results on Tuesday, July 30th. The insurance provider reported $2.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.21 by $0.36. The firm had revenue of $3.78 billion for the quarter, compared to analysts’ expectations of $3.89 billion. Arch Capital Group had a net margin of 35.19% and a return on equity of 21.42%. The business’s revenue was up 10.3% on a year-over-year basis. During the same quarter last year, the business earned $1.92 earnings per share. As a group, analysts predict that Arch Capital Group will post 9.01 earnings per share for the current year.

Insider Activity at Arch Capital Group

In other Arch Capital Group news, CFO Francois Morin sold 11,460 shares of Arch Capital Group 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 sale, the chief financial officer now owns 221,779 shares of the company’s stock, valued at approximately $22,723,476.34. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 4.20% of the stock is currently owned by insiders.

Institutional Trading of Arch Capital Group

Large investors have recently made changes to their positions in the stock. UMB Bank n.a. bought a new position in shares of Arch Capital Group during the 2nd quarter valued at $30,000. Baldwin Brothers LLC MA lifted 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 acquiring an additional 104 shares during the period. Richardson Financial Services Inc. purchased a new position in Arch Capital Group in the fourth quarter worth about $33,000. Rothschild Investment LLC bought a new stake in shares of Arch Capital Group during the 2nd quarter valued at about $35,000. Finally, LRI Investments LLC bought a new stake in shares of Arch Capital Group during the 1st quarter valued at about $38,000. 89.07% of the stock is currently owned by institutional investors.

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.