Arch Capital Group (NASDAQ:ACGL) Upgraded by StockNews.com to Buy

StockNews.com upgraded shares of Arch Capital Group (NASDAQ:ACGLFree Report) from a hold rating to a buy rating in a research report report published on Sunday morning.

A number of other analysts have also recently issued reports on ACGL. Morgan Stanley lifted their target price on shares of Arch Capital Group from $104.00 to $109.00 and gave the company an overweight rating in a research note on Monday, April 15th. Royal Bank of Canada reiterated an outperform rating and set a $98.00 target price on shares of Arch Capital Group in a research note on Friday, February 16th. Roth Mkm reissued a buy rating and issued a $110.00 price target on shares of Arch Capital Group in a report on Tuesday, April 30th. JPMorgan Chase & Co. upped their target price on shares of Arch Capital Group from $88.00 to $92.00 and gave the stock a neutral rating in a report on Monday, April 8th. Finally, Wells Fargo & Company upped their target price on shares of Arch Capital Group from $109.00 to $110.00 and gave the stock an overweight rating in a report on Wednesday, May 1st. Four research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, Arch Capital Group has a consensus rating of Moderate Buy and a consensus price target of $101.33.

Read Our Latest Stock Analysis on ACGL

Arch Capital Group Stock Down 1.2 %

NASDAQ ACGL opened at $99.68 on Friday. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.59 and a quick ratio of 0.59. The company’s 50 day simple moving average is $96.15 and its 200 day simple moving average is $87.33. Arch Capital Group has a 12 month low of $69.49 and a 12 month high of $103.79. The company has a market capitalization of $37.43 billion, a P/E ratio of 7.87, a PEG ratio of 2.35 and a beta of 0.60.

Arch Capital Group (NASDAQ:ACGLGet Free Report) last released its earnings results on Monday, April 29th. The insurance provider reported $2.45 earnings per share for the quarter, topping the consensus estimate of $2.06 by $0.39. The business had revenue of $4.09 billion for the quarter, compared to the consensus estimate of $3.77 billion. Arch Capital Group had a net margin of 33.65% and a return on equity of 21.85%. The firm’s quarterly revenue was up 19.3% compared to the same quarter last year. During the same period last year, the firm posted $1.73 earnings per share. Equities research analysts expect that Arch Capital Group will post 8.55 earnings per share for the current fiscal year.

Insider Activity at Arch Capital Group

In related news, CEO David Gansberg sold 10,000 shares of the stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $96.64, for a total value of $966,400.00. Following the sale, the chief executive officer now directly owns 228,035 shares in the company, valued at approximately $22,037,302.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 4.00% of the stock is currently owned by corporate insiders.

Institutional Trading of Arch Capital Group

A number of large investors have recently bought and sold shares of ACGL. Assenagon Asset Management S.A. grew its stake in shares of Arch Capital Group by 0.4% during the 1st quarter. Assenagon Asset Management S.A. now owns 33,283 shares of the insurance provider’s stock worth $3,077,000 after acquiring an additional 117 shares in the last quarter. Sunbelt Securities Inc. boosted its position in Arch Capital Group by 1.8% during the first quarter. Sunbelt Securities Inc. now owns 6,679 shares of the insurance provider’s stock worth $617,000 after purchasing an additional 117 shares during the period. Resonant Capital Advisors LLC boosted its position in shares of Arch Capital Group by 2.1% in the first quarter. Resonant Capital Advisors LLC now owns 5,802 shares of the insurance provider’s stock valued at $536,000 after acquiring an additional 118 shares during the period. Petra Financial Advisors Inc. boosted its position in shares of Arch Capital Group by 1.2% in the first quarter. Petra Financial Advisors Inc. now owns 10,574 shares of the insurance provider’s stock valued at $977,000 after acquiring an additional 129 shares during the period. Finally, Headlands Technologies LLC lifted its position in Arch Capital Group by 1.1% during the first quarter. Headlands Technologies LLC now owns 12,538 shares of the insurance provider’s stock worth $1,159,000 after purchasing an additional 141 shares during the period. 89.07% of the stock is owned by institutional investors.

About Arch Capital Group

(Get Free Report)

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.

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Analyst Recommendations for Arch Capital Group (NASDAQ:ACGL)

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