Arch Capital Group (NASDAQ:ACGL) saw its target price raised by Morgan Stanley investment analysts from $48.00 to $52.00 in a report on Friday, Benzinga reports. The company currently has an “equal weight” rating on the shares of the insurance provider. Morgan Stanley’s target price suggests a potential upside of 11.25% from the stock’s previous close.
Several other stock analysts have also recently released reports on the company. Royal Bank of Canada raised its price target on Arch Capital Group from $47.00 to $49.00 and gave the company an “outperform” rating in a Friday, October 29 report. Wells Fargo & Company raised its price target on Arch Capital Group from $49.00 to $51.00 and gave the stock an “overweight” rating in a Tuesday, January 4 report. Barclays raised its price target on Arch Capital Group from $50.00 to $51.00 and gave the stock an “overweight” rating in a Thursday, January 6 report. UBS Group raised its price target on Arch Capital Group from $49.00 to $52.00 and gave the stock a “buy” rating in a research report on Wednesday. Finally, JMP Securities raised its price target on Arch Capital Group from $48.00 to $50.00 and gave the stock a “market outperforming” rating in a research report on Friday. One analyst rated the stock with a hold rating and eight rated the stock with a buy rating. Based on data from MarketBeat.com, Arch Capital Group currently has a consensus rating of “Buy” and a consensus price target of $50.22.
ACGL opened at $46.74 on Friday. The company has a 50-day moving average of $43.40 and a 200-day moving average of $41.27. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt ratio of 0.25. The stock has a market capitalization of $18.05 billion, a price/earnings ratio of 9.42, a P/E/G ratio of 1.06 and a beta of 0.92. Arch Capital Group has a 1-year low of $31.23 and a 1-year high of $47.55.
Arch Capital Group (NASDAQ:ACGL) last released its quarterly earnings data on Tuesday, October 26. The insurance provider reported earnings per share (EPS) of $0.74 for the quarter, beating the consensus estimate of $0.36 by $0.38. The company posted revenue of $2.08 billion in the quarter, versus analyst estimates of $2.22 billion. Arch Capital Group achieved a return on equity of 9.33% and a net margin of 22.28%. The company’s revenue for the quarter increased by 20.2% compared to the same quarter last year. In the same period a year earlier, the company posted earnings per share of $0.29. Stock analysts predict that Arch Capital Group will post EPS of 3.31 for the current year.
In other Arch Capital Group news, insider Louis T. Petrillo sold 12,567 shares of the company in a trade that took place on Thursday, November 18. The stock was sold at an average price of $42.00, for a total transaction of $527,814.00. The transaction was disclosed in a document filed with the SEC, which can be accessed on the SEC’s website. Additionally, Chairman John M. Pasquesi purchased 484,544 shares in a trade on Thursday, November 11. The shares were purchased at an average cost of $41.23 per share, for a total transaction of $19,977,749.12. Disclosure of this purchase can be found here. Over the past three months, insiders have sold 61,535 shares of the company worth $2,610,291. 3.90% of the shares are held by insiders.
Hedge funds and other institutional investors have recently changed their holdings in the company. Stifel Financial Corp increased its stake in Arch Capital Group shares by 0.7% during the second quarter. Stifel Financial Corp now owns 775,291 shares of the insurance provider worth $30,190,000 after acquiring an additional 5,750 shares during the period. Cooke & Bieler LP increased its stake in Arch Capital Group shares by 6.7% during the second quarter. Cooke & Bieler LP now owns 6,280,133 shares of the insurance provider worth $244,549,000 after acquiring an additional 395,149 shares during the period. Deutsche Bank AG increased its stake in Arch Capital Group shares by 0.9% during the third quarter. Deutsche Bank AG now owns 928,647 shares of the insurance provider worth $35,457,000 after acquiring an additional 8,585 shares during the period. CIBC Private Wealth Group LLC increased its stake in the shares of Arch Capital Group by 16.7% during the 2nd quarter. CIBC Private Wealth Group LLC now owns 42,927 shares of the insurance provider worth $1,671,000 after acquiring an additional 6,139 shares during the period. Finally, the Royal Bank of Canada increased its stake in the shares of Arch Capital Group by 8.3% during the second quarter. Royal Bank of Canada now owns 2,605,744 shares of the insurance provider worth $101,468,000 after acquiring an additional 198,800 shares during the period. Institutional investors hold 88.24% of the company’s shares.
Arch Capital Group Company Profile
Arch Capital Group Ltd. provides property and casualty insurance and reinsurance lines. It operates through the following segments: Insurance, Reinsurance, Mortgage, Corporate (non-underwriting) and Other. The Insurance segment includes insurance underwriting units that offer specialized product lines such as construction and national accounts, insurance excess and surplus, lender products, professional lines and programs.
Read more: How does the Federal Reserve set interest rates?
This instant news alert was powered by MarketBeat’s narrative science technology and financial data to provide readers with the fastest and most accurate reports. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send questions or comments about this story to [email protected]
Should you invest $1,000 in Arch Capital Group right now?
Before you consider Arch Capital Group, you’ll want to hear this.
MarketBeat tracks daily the highest rated and most successful research analysts on Wall Street and the stocks they recommend to their clients. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the market takes off…and Arch Capital Group was not on the list.
While Arch Capital Group currently has a “Buy” rating among analysts, top-rated analysts believe these five stocks are better buys.
See the 5 actions here