Arch Capital Group (NASDAQ:ACGL) Upgraded at StockNews.com

Arch Capital Group (NASDAQ:ACGL) was upgraded by equities research analysts at StockNews.com from a “hold” rating to a “buy” rating in a report issued on Wednesday.

A number of other analysts have also recently weighed in on the stock. TD Cowen raised their price objective on shares of Arch Capital Group from $116.00 to $138.00 and gave the stock a “buy” rating in a report on Friday, September 20th. Wells Fargo & Company lifted their target price on shares of Arch Capital Group from $110.00 to $126.00 and gave the company an “overweight” rating in a report on Thursday, October 10th. Keefe, Bruyette & Woods lifted their target price on shares of Arch Capital Group from $120.00 to $121.00 and gave the company an “outperform” rating in a report on Wednesday, August 7th. JMP Securities lifted their target price on shares of Arch Capital Group from $115.00 to $125.00 and gave the company a “market outperform” rating in a report on Tuesday. Finally, Barclays initiated coverage on shares of Arch Capital Group in a report on Wednesday, September 4th. They issued an “equal weight” rating and a $120.00 target price on the stock. Four investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, Arch Capital Group currently has a consensus rating of “Moderate Buy” and an average target price of $119.53.

Arch Capital Group Stock Down 0.5 %

ACGL stock traded down $0.59 during midday trading on Wednesday, reaching $107.47. 1,696,177 shares of the company were exchanged, compared to its average volume of 1,623,530. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.60 and a current ratio of 0.60. Arch Capital Group has a 1-year low of $72.85 and a 1-year high of $116.47. The stock’s 50-day simple moving average is $109.66 and its 200 day simple moving average is $101.66. The company has a market cap of $40.35 billion, a price-to-earnings ratio of 8.48, a price-to-earnings-growth ratio of 2.03 and a beta of 0.59.

Arch Capital Group (NASDAQ:ACGL) last released its quarterly earnings data on Tuesday, July 30th. The insurance provider reported $2.57 earnings per share for the quarter, topping analysts’ consensus estimates of $2.21 by $0.36. Arch Capital Group had a net margin of 35.19% and a return on equity of 21.42%. The company had revenue of $3.78 billion for the quarter, compared to analysts’ expectations of $3.89 billion. During the same quarter last year, the company earned $1.92 earnings per share. The firm’s revenue for the quarter was up 10.3% on a year-over-year basis. On average, equities analysts forecast that Arch Capital Group will post 9.11 earnings per share for the current year.

Insiders Place Their Bets

In other Arch Capital Group news, CFO Francois Morin sold 11,460 shares of the business’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $102.46, for a total transaction of $1,174,191.60. Following the sale, the chief financial officer now directly 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 is accessible through the SEC website. Insiders own 4.20% of the company’s stock.

Institutional Investors Weigh In On Arch Capital Group

Institutional investors and hedge funds have recently made changes to their positions in the business. State Board of Administration of Florida Retirement System boosted its position in shares of Arch Capital Group by 5.2% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 431,105 shares of the insurance provider’s stock worth $39,851,000 after buying an additional 21,332 shares in the last quarter. Alaska Permanent Fund Corp lifted its holdings in Arch Capital Group by 42.2% in the 1st quarter. Alaska Permanent Fund Corp now owns 54,578 shares of the insurance provider’s stock valued at $5,045,000 after purchasing an additional 16,208 shares in the last quarter. Sequoia Financial Advisors LLC lifted its holdings in Arch Capital Group by 2.6% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 20,871 shares of the insurance provider’s stock valued at $2,106,000 after purchasing an additional 519 shares in the last quarter. Cetera Advisors LLC lifted its holdings in Arch Capital Group by 70.9% in the 1st quarter. Cetera Advisors LLC now owns 13,700 shares of the insurance provider’s stock valued at $1,266,000 after purchasing an additional 5,684 shares in the last quarter. Finally, Consolidated Portfolio Review Corp purchased a new position in Arch Capital Group in the 1st quarter valued at about $1,937,000. 89.07% of the stock is currently owned by hedge funds and other 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.