MKM Partners Increases Arch Capital Group (NASDAQ:ACGL) Price Target to $50.00

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Arch Capital Group (NASDAQ:ACGL) had its price target boosted by MKM Partners from $45.00 to $50.00 in a report released on Wednesday, October 30th, The Fly reports. The firm currently has a buy rating on the insurance provider’s stock.

Several other equities analysts also recently weighed in on ACGL. Barclays set a $47.00 price target on Arch Capital Group and gave the company a buy rating in a report on Monday, August 12th. Buckingham Research lifted their price objective on Arch Capital Group from $38.00 to $40.00 and gave the stock a neutral rating in a report on Thursday, September 12th. ValuEngine downgraded Arch Capital Group from a sell rating to a strong sell rating in a report on Thursday, August 1st. UBS Group lifted their price objective on Arch Capital Group from $39.00 to $45.00 and gave the stock a buy rating in a report on Thursday, August 29th. Finally, BidaskClub cut Arch Capital Group from a buy rating to a hold rating in a research report on Tuesday, October 29th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the stock. The company currently has an average rating of Hold and a consensus price target of $39.67.

Shares of ACGL stock traded up $0.12 during trading on Wednesday, hitting $40.58. The company had a trading volume of 1,129,700 shares, compared to its average volume of 1,217,083. Arch Capital Group has a 52 week low of $24.79 and a 52 week high of $42.86. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 0.27. The stock’s 50-day moving average is $41.48 and its two-hundred day moving average is $38.12. The stock has a market capitalization of $16.42 billion, a price-to-earnings ratio of 18.45, a price-to-earnings-growth ratio of 1.47 and a beta of 0.63.

Arch Capital Group (NASDAQ:ACGL) last issued its quarterly earnings results on Tuesday, October 29th. The insurance provider reported $0.63 earnings per share for the quarter, beating the consensus estimate of $0.62 by $0.01. Arch Capital Group had a return on equity of 10.59% and a net margin of 21.97%. The firm had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.29 billion. During the same period last year, the company earned $0.53 earnings per share. On average, research analysts predict that Arch Capital Group will post 2.76 EPS for the current fiscal year.

In other news, SVP W Preston Hutchings sold 25,000 shares of Arch Capital Group stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $39.47, for a total transaction of $986,750.00. Following the transaction, the senior vice president now directly owns 55,694 shares of the company’s stock, valued at approximately $2,198,242.18. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Maamoun Rajeh sold 20,000 shares of Arch Capital Group stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $39.08, for a total value of $781,600.00. The disclosure for this sale can be found here. Insiders sold 133,400 shares of company stock worth $5,308,565 over the last three months. Insiders own 5.20% of the company’s stock.

Several hedge funds have recently bought and sold shares of the company. World Asset Management Inc lifted its position in shares of Arch Capital Group by 2.5% during the 3rd quarter. World Asset Management Inc now owns 12,273 shares of the insurance provider’s stock valued at $515,000 after buying an additional 305 shares in the last quarter. Commonwealth Bank of Australia raised its stake in Arch Capital Group by 0.8% during the 2nd quarter. Commonwealth Bank of Australia now owns 38,525 shares of the insurance provider’s stock valued at $1,423,000 after purchasing an additional 309 shares during the period. Financial Advantage Inc. raised its stake in Arch Capital Group by 0.3% during the 3rd quarter. Financial Advantage Inc. now owns 119,263 shares of the insurance provider’s stock valued at $5,006,000 after purchasing an additional 310 shares during the period. LS Investment Advisors LLC raised its stake in Arch Capital Group by 4.3% during the 2nd quarter. LS Investment Advisors LLC now owns 7,780 shares of the insurance provider’s stock valued at $288,000 after purchasing an additional 318 shares during the period. Finally, Oppenheimer Asset Management Inc. raised its stake in Arch Capital Group by 2.2% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 15,226 shares of the insurance provider’s stock valued at $640,000 after purchasing an additional 329 shares during the period. 79.89% of the stock is currently owned by hedge funds and other institutional investors.

Arch Capital Group Company Profile

Arch Capital Group Ltd., together with its subsidiaries, provides property, casualty, and mortgage insurance and reinsurance products worldwide. The company's Insurance segment offers primary and excess casualty coverages; loss sensitive primary casualty insurance programs; collateral protection, debt cancellation, and service contract reimbursement products; 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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