BMO Capital Markets Increases Arch Capital Group (NASDAQ:ACGL) Price Target to $104.00

Arch Capital Group (NASDAQ:ACGL) had its target price upped by equities research analysts at BMO Capital Markets from $98.00 to $104.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm presently has a “market perform” rating on the insurance provider’s stock. BMO Capital Markets’ price objective would suggest a potential upside of 4.21% from the company’s previous close.

ACGL has been the subject of a number of other research reports. JPMorgan Chase & Co. raised their target price on Arch Capital Group from $108.00 to $110.00 and gave the company a “neutral” rating in a report on Thursday, October 10th. TD Cowen lifted their price target on Arch Capital Group from $116.00 to $138.00 and gave the stock a “buy” rating in a research note on Friday, September 20th. Citigroup lifted their price target on Arch Capital Group from $105.00 to $114.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 10th. Keefe, Bruyette & Woods lifted their price target on Arch Capital Group from $120.00 to $121.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 7th. Finally, StockNews.com cut Arch Capital Group from a “buy” rating to a “hold” rating in a research report on Thursday, October 24th. Six research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, Arch Capital Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $118.88.

Arch Capital Group Stock Performance

NASDAQ:ACGL opened at $99.80 on Wednesday. The firm’s fifty day moving average price is $109.67 and its 200 day moving average price is $102.91. Arch Capital Group has a 1-year low of $72.85 and a 1-year high of $116.47. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.58 and a quick ratio of 0.60. The firm has a market cap of $37.53 billion, a price-to-earnings ratio of 6.70, a price-to-earnings-growth ratio of 1.36 and a beta of 0.61.

Arch Capital Group (NASDAQ:ACGL) last posted its quarterly earnings data on Wednesday, October 30th. The insurance provider reported $1.99 earnings per share for the quarter, beating analysts’ consensus estimates of $1.94 by $0.05. Arch Capital Group had a net margin of 33.86% and a return on equity of 18.94%. The firm had revenue of $4.72 billion for the quarter, compared to analyst estimates of $4.05 billion. During the same period last year, the firm posted $2.31 EPS. On average, sell-side analysts expect that Arch Capital Group will post 9.09 EPS for the current year.

Insider Transactions at Arch Capital Group

In other news, CFO Francois Morin sold 11,460 shares of the business’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $102.46, for a total transaction of $1,174,191.60. Following the completion of the sale, the chief financial officer now owns 221,779 shares in the company, valued at approximately $22,723,476.34. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 4.20% of the company’s stock.

Hedge Funds Weigh In On Arch Capital Group

Several hedge funds and other institutional investors have recently bought and sold shares of ACGL. UMB Bank n.a. acquired a new position in Arch Capital Group during the 2nd quarter worth approximately $30,000. Baldwin Brothers LLC MA lifted its position in Arch Capital Group by 50.7% during the 2nd quarter. Baldwin Brothers LLC MA now owns 309 shares of the insurance provider’s stock worth $31,000 after acquiring an additional 104 shares in the last quarter. Rothschild Investment LLC acquired a new position in shares of Arch Capital Group in the 2nd quarter valued at approximately $35,000. LRI Investments LLC acquired a new position in shares of Arch Capital Group in the 1st quarter valued at approximately $38,000. Finally, Versant Capital Management Inc raised its position in shares of Arch Capital Group by 40.3% in the 2nd quarter. Versant Capital Management Inc now owns 456 shares of the insurance provider’s stock valued at $46,000 after purchasing an additional 131 shares in the last quarter. 89.07% of the stock is 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.