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

Arch Capital Group (NASDAQ:ACGL) had its price objective increased by equities research analysts at Mizuho from $101.00 to $104.00 in a report issued on Thursday, Marketbeat Ratings reports. The firm currently has a “neutral” rating on the insurance provider’s stock. Mizuho’s price target would indicate a potential upside of 2.91% from the stock’s previous close.

A number of other research analysts also recently issued reports on ACGL. Wells Fargo & Company raised their price target on Arch Capital Group from $109.00 to $110.00 and gave the stock an “overweight” rating in a research note on Thursday, April 30th. UBS Group reiterated a “buy” rating and issued a $120.00 price objective (up from $114.00) on shares of Arch Capital Group in a research note on Wednesday. Keefe, Bruyette & Woods decreased their price objective on Arch Capital Group from $102.00 to $99.00 and set a “market perform” rating for the company in a report on Wednesday. Citigroup raised their target price on shares of Arch Capital Group from $120.00 to $122.50 and gave the stock a “buy” rating in a research report on Thursday, April 30th. Finally, Morgan Stanley lifted their target price on shares of Arch Capital Group from $105.00 to $110.00 and gave the company an “overweight” rating in a report on Monday, July 6th. Eight investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Arch Capital Group has an average rating of “Hold” and a consensus target price of $108.12.

Arch Capital Group Price Performance

Shares of ACGL opened at $101.06 on Thursday. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.55 and a quick ratio of 0.55. Arch Capital Group has a 1-year low of $82.44 and a 1-year high of $105.09. The stock has a market cap of $35.31 billion, a PE ratio of 7.76, a price-to-earnings-growth ratio of 5.10 and a beta of 0.31. The firm has a fifty day moving average price of $94.44 and a 200 day moving average price of $95.49.

Arch Capital Group (NASDAQ:ACGL) last issued its quarterly earnings data on Tuesday, March 31st. The insurance provider reported $2.50 earnings per share (EPS) for the quarter. Arch Capital Group had a return on equity of 17.61% and a net margin of 24.64%.The company had revenue of $4.52 billion for the quarter. As a group, sell-side analysts anticipate that Arch Capital Group will post 9.28 EPS for the current year.

Insider Buying and Selling

In related news, Director Daniel Joseph Houston bought 5,300 shares of the company’s stock in a transaction dated Thursday, April 30th. The shares were acquired at an average price of $94.08 per share, with a total value of $498,624.00. Following the completion of the acquisition, the director owned 9,915 shares in the company, valued at approximately $932,803.20. This trade represents a 114.84% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Brian S. Posner sold 3,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $19.66, for a total value of $58,980.00. The SEC filing for this sale provides additional information. 3.30% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Arch Capital Group

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Torren Management LLC raised its position in Arch Capital Group by 66.9% during the 2nd quarter. Torren Management LLC now owns 292 shares of the insurance provider’s stock worth $28,000 after buying an additional 117 shares during the last quarter. Finivi Inc. acquired a new stake in shares of Arch Capital Group in the 2nd quarter worth $345,000. Franklin Street Advisors Inc. NC boosted its holdings in shares of Arch Capital Group by 26.3% in the second quarter. Franklin Street Advisors Inc. NC now owns 3,638 shares of the insurance provider’s stock valued at $353,000 after acquiring an additional 758 shares in the last quarter. Allied Private Wealth LLC purchased a new stake in shares of Arch Capital Group in the second quarter valued at about $69,000. Finally, Chemistry Wealth Management LLC increased its stake in shares of Arch Capital Group by 2.2% during the second quarter. Chemistry Wealth Management LLC now owns 10,187 shares of the insurance provider’s stock worth $989,000 after acquiring an additional 218 shares during the period. 89.07% of the stock is currently owned by hedge funds and other institutional investors.

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.