Cantor Fitzgerald Issues Positive Forecast for Arch Capital Group (NASDAQ:ACGL) Stock Price

Arch Capital Group (NASDAQ:ACGL) had its price target hoisted by research analysts at Cantor Fitzgerald from $93.00 to $97.00 in a note issued to investors on Wednesday, MarketBeat reports. The brokerage currently has a “neutral” rating on the insurance provider’s stock. Cantor Fitzgerald’s price objective points to a potential upside of 6.20% from the stock’s previous close.

Several other equities research analysts also recently weighed in on ACGL. Evercore ISI set a $100.00 price objective on Arch Capital Group and gave the company an “in-line” rating in a report on Wednesday, January 7th. Mizuho set a $95.00 price target on shares of Arch Capital Group and gave the stock a “neutral” rating in a research note on Monday, December 15th. JPMorgan Chase & Co. lifted their price objective on shares of Arch Capital Group from $111.00 to $117.00 and gave the company a “neutral” rating in a research note on Wednesday, January 7th. Roth Capital set a $110.00 target price on shares of Arch Capital Group and gave the stock a “buy” rating in a research note on Tuesday, December 2nd. Finally, Morgan Stanley boosted their price target on Arch Capital Group from $105.00 to $110.00 and gave the company an “overweight” rating in a research report on Monday, November 17th. Eight research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $106.53.

Arch Capital Group Price Performance

NASDAQ:ACGL opened at $91.33 on Wednesday. Arch Capital Group has a 52 week low of $82.44 and a 52 week high of $97.60. The stock’s fifty day moving average is $93.46 and its two-hundred day moving average is $90.87. The company has a market capitalization of $33.12 billion, a P/E ratio of 8.53, a P/E/G ratio of 2.10 and a beta of 0.45. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 0.13.

Arch Capital Group (NASDAQ:ACGL) last announced 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. Arch Capital Group had a return on equity of 16.38% and a net margin of 20.96%.The company had revenue of $5.11 billion for the quarter, compared to analyst estimates of $4.39 billion. During the same quarter in the previous year, the company earned $1.99 earnings per share. Equities analysts expect that Arch Capital Group will post 8.42 EPS for the current year.

Insider Buying and Selling

In other Arch Capital Group news, insider John M. Pasquesi sold 8,800 shares of the stock in a transaction dated Monday, December 15th. The shares were sold at an average price of $94.17, for a total value of $828,696.00. Following the completion of the transaction, the insider directly owned 289,556 shares of the company’s stock, valued at approximately $27,267,488.52. This trade represents a 2.95% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Francois Morin sold 8,000 shares of Arch Capital Group stock in a transaction that occurred on Friday, November 28th. The shares were sold at an average price of $94.62, for a total transaction of $756,960.00. Following the sale, the chief financial officer owned 266,681 shares of the company’s stock, valued at approximately $25,233,356.22. The trade was a 2.91% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 220,666 shares of company stock worth $20,728,673. Company insiders own 4.10% of the company’s stock.

Institutional Trading of Arch Capital Group

Several institutional investors and hedge funds have recently modified their holdings of the business. WealthCollab LLC increased its stake in Arch Capital Group by 410.3% in the third quarter. WealthCollab LLC now owns 296 shares of the insurance provider’s stock valued at $27,000 after purchasing an additional 238 shares during the last quarter. JPL Wealth Management LLC purchased a new stake in Arch Capital Group in the 3rd quarter valued at about $28,000. Aventura Private Wealth LLC acquired a new position in shares of Arch Capital Group during the 4th quarter valued at about $30,000. Grove Bank & Trust purchased a new position in shares of Arch Capital Group during the 4th quarter worth about $30,000. Finally, Cornerstone Planning Group LLC lifted its holdings in shares of Arch Capital Group by 426.0% during the 3rd quarter. Cornerstone Planning Group LLC now owns 384 shares of the insurance provider’s stock worth $33,000 after acquiring an additional 311 shares during the period. Hedge funds and other institutional investors own 89.07% of the company’s stock.

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.