Arch Capital Group (NASDAQ:ACGL) Given New $126.00 Price Target at Wells Fargo & Company

Arch Capital Group (NASDAQ:ACGL) had its price objective raised by Wells Fargo & Company from $110.00 to $126.00 in a research note issued to investors on Thursday morning, Benzinga reports. They currently have an overweight rating on the insurance provider’s stock.

Several other equities research analysts have also commented on the stock. Roth Mkm boosted their target price on shares of Arch Capital Group from $110.00 to $125.00 and gave the stock a buy rating in a research report on Friday, August 23rd. JMP Securities boosted their price objective on shares of Arch Capital Group from $110.00 to $115.00 and gave the stock a market outperform rating in a research report on Wednesday, July 31st. Bank of America decreased their price objective on shares of Arch Capital Group from $119.00 to $118.00 and set a buy rating on the stock in a research report on Thursday, July 11th. Royal Bank of Canada upped their target price on shares of Arch Capital Group from $108.00 to $112.00 and gave the company an outperform rating in a report on Thursday, August 1st. Finally, Jefferies Financial Group upped their target price on shares of Arch Capital Group from $114.00 to $134.00 and gave the company a buy rating in a report on Wednesday, October 9th. Five analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of Moderate Buy and a consensus price target of $118.87.

Arch Capital Group Stock Performance

Shares of Arch Capital Group stock opened at $114.40 on Thursday. The firm’s fifty day simple moving average is $108.91 and its 200-day simple moving average is $101.38. The stock has a market capitalization of $43.02 billion, a price-to-earnings ratio of 8.05, a PEG ratio of 2.03 and a beta of 0.59. Arch Capital Group has a 12 month low of $72.85 and a 12 month high of $116.47. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.60 and a quick ratio of 0.60.

Arch Capital Group (NASDAQ:ACGL) last announced its quarterly earnings data on Tuesday, July 30th. The insurance provider reported $2.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.21 by $0.36. The company had revenue of $3.78 billion for the quarter, compared to analysts’ expectations of $3.89 billion. Arch Capital Group had a net margin of 35.19% and a return on equity of 21.42%. Arch Capital Group’s revenue was up 10.3% compared to the same quarter last year. During the same period in the previous year, the company posted $1.92 EPS. As a group, equities analysts forecast that Arch Capital Group will post 9.11 earnings per share for the current year.

Insider Activity at Arch Capital Group

In other Arch Capital Group news, CFO Francois Morin sold 11,460 shares of the firm’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 directly owns 221,779 shares in the company, valued at approximately $22,723,476.34. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 4.20% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Creative Planning grew its holdings in shares of Arch Capital Group by 4.7% during the 3rd quarter. Creative Planning now owns 37,950 shares of the insurance provider’s stock worth $4,246,000 after purchasing an additional 1,720 shares in the last quarter. CX Institutional boosted its stake in Arch Capital Group by 1,838.1% in the 3rd quarter. CX Institutional now owns 40,953 shares of the insurance provider’s stock valued at $4,582,000 after buying an additional 38,840 shares in the last quarter. Empirical Asset Management LLC acquired a new position in Arch Capital Group in the third quarter worth $904,000. Procyon Advisors LLC boosted its stake in Arch Capital Group by 8.0% in the third quarter. Procyon Advisors LLC now owns 9,264 shares of the insurance provider’s stock worth $1,037,000 after purchasing an additional 687 shares in the last quarter. Finally, Compagnie Lombard Odier SCmA bought a new stake in shares of Arch Capital Group during the third quarter worth $46,000. 89.07% of the stock is owned by institutional investors.

Arch Capital Group Company Profile

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.