Brokerages Set Arch Capital Group Ltd. (NASDAQ:ACGL) Price Target at $106.00

Shares of Arch Capital Group Ltd. (NASDAQ:ACGL) have received an average recommendation of “Hold” from the seventeen analysts that are presently covering the company, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, eight have issued a hold recommendation and eight have given a buy recommendation to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $106.00.

A number of equities research analysts recently issued reports on the stock. Wolfe Research assumed coverage on shares of Arch Capital Group in a report on Monday, September 15th. They issued a “peer perform” rating for the company. JPMorgan Chase & Co. increased their price objective on Arch Capital Group from $110.00 to $111.00 and gave the company a “neutral” rating in a report on Tuesday, October 28th. Wells Fargo & Company cut their price objective on Arch Capital Group from $111.00 to $106.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 29th. Roth Capital set a $110.00 target price on Arch Capital Group and gave the stock a “buy” rating in a research report on Tuesday, December 2nd. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Arch Capital Group in a report on Wednesday, October 8th.

Insiders Place Their Bets

In other news, CFO Francois Morin sold 8,000 shares of the firm’s stock in a transaction dated Friday, November 28th. The stock was sold at an average price of $94.62, for a total value of $756,960.00. Following the sale, the chief financial officer directly owned 266,681 shares of the company’s stock, valued at approximately $25,233,356.22. This trade represents a 2.91% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider John M. Pasquesi sold 203,866 shares of Arch Capital Group stock in a transaction dated Friday, December 12th. The stock was sold at an average price of $93.90, for a total value of $19,143,017.40. Following the completion of the transaction, the insider owned 351,356 shares in the company, valued at $32,992,328.40. The trade was a 36.72% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 220,666 shares of company stock worth $20,728,673 over the last quarter. 4.10% of the stock is currently owned by company insiders.

Institutional Trading of Arch Capital Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its holdings 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 buying an additional 493,583 shares during the last quarter. Artisan Partners Limited Partnership increased its position 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 acquiring an additional 408,950 shares during the period. WCM Investment Management LLC increased its position in Arch Capital Group by 1.3% during the third quarter. WCM Investment Management LLC now owns 13,525,402 shares of the insurance provider’s stock worth $1,214,987,000 after acquiring an additional 171,693 shares during the period. Geode Capital Management LLC raised its stake in 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 valued at $952,523,000 after purchasing an additional 115,465 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in Arch Capital Group by 4.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 8,190,927 shares of the insurance provider’s stock valued at $743,168,000 after purchasing an additional 360,626 shares during the period. Institutional investors and hedge funds own 89.07% of the company’s stock.

Arch Capital Group Trading Down 2.1%

Shares of NASDAQ ACGL opened at $93.86 on Friday. The stock has a market cap of $34.04 billion, a price-to-earnings ratio of 8.78, a PEG ratio of 2.12 and a beta of 0.45. The business has a 50 day simple moving average of $92.33 and a 200 day simple moving average of $90.68. Arch Capital Group has a 52 week low of $82.44 and a 52 week high of $97.60. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.55 and a current ratio of 0.55.

Arch Capital Group (NASDAQ:ACGL) last posted its earnings results on Monday, October 27th. The insurance provider reported $2.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.76 by $1.01. The firm had revenue of $5.11 billion during the quarter, compared to analysts’ expectations of $4.39 billion. Arch Capital Group had a net margin of 20.96% and a return on equity of 16.38%. During the same period in the previous year, the company earned $1.99 earnings per share. On average, research analysts predict that Arch Capital Group will post 8.42 earnings per share for the current fiscal year.

About Arch Capital Group

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.