TD Cowen Increases Arch Capital Group (NASDAQ:ACGL) Price Target to $138.00

Arch Capital Group (NASDAQ:ACGL) had its target price hoisted by TD Cowen from $116.00 to $138.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm presently has a “buy” rating on the insurance provider’s stock. TD Cowen’s target price suggests a potential upside of 21.87% from the stock’s previous close.

ACGL has been the topic of several other research reports. Royal Bank of Canada lifted their target price on Arch Capital Group from $108.00 to $112.00 and gave the company an “outperform” rating in a research note on Thursday, August 1st. Wells Fargo & Company dropped their price objective on shares of Arch Capital Group from $111.00 to $110.00 and set an “overweight” rating on the stock in a research note on Monday, August 12th. Evercore ISI lifted their target price on shares of Arch Capital Group from $100.00 to $104.00 and gave the company an “in-line” rating in a research note on Wednesday, July 31st. Citigroup upped their price target on shares of Arch Capital Group from $105.00 to $114.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 10th. Finally, JPMorgan Chase & Co. lifted their price objective on Arch Capital Group from $106.00 to $108.00 and gave the company a “neutral” rating in a research report on Wednesday, July 31st. Five investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $113.73.

Arch Capital Group Stock Up 1.6 %

Shares of NASDAQ:ACGL opened at $113.24 on Friday. The firm has a 50 day simple moving average of $104.15 and a 200 day simple moving average of $98.89. Arch Capital Group has a 52 week low of $72.85 and a 52 week high of $114.69. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.60 and a current ratio of 0.60. The company has a market cap of $42.59 billion, a PE ratio of 8.94, a price-to-earnings-growth ratio of 2.07 and a beta of 0.60.

Arch Capital Group (NASDAQ:ACGL) last released its earnings results on Tuesday, July 30th. The insurance provider reported $2.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.21 by $0.36. Arch Capital Group had a return on equity of 21.42% and a net margin of 35.19%. The company had revenue of $3.78 billion during the quarter, compared to analyst estimates of $3.89 billion. During the same quarter in the prior year, the company earned $1.92 earnings per share. The company’s revenue for the quarter was up 10.3% on a year-over-year basis. As a group, research analysts expect that Arch Capital Group will post 9.01 earnings per share for the current year.

Insider Activity

In related news, CFO Francois Morin sold 11,460 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $102.46, for a total value of $1,174,191.60. Following the transaction, the chief financial officer now directly owns 221,779 shares of the company’s stock, valued at approximately $22,723,476.34. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 4.20% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Sanctuary Advisors LLC acquired a new stake in shares of Arch Capital Group in the second quarter valued at about $5,412,000. Cetera Investment Advisers grew its holdings in Arch Capital Group by 18.4% in the 2nd quarter. Cetera Investment Advisers now owns 49,193 shares of the insurance provider’s stock valued at $4,963,000 after buying an additional 7,652 shares during the last quarter. Truist Financial Corp grew its holdings in Arch Capital Group by 4.9% in the 2nd quarter. Truist Financial Corp now owns 786,818 shares of the insurance provider’s stock valued at $79,382,000 after buying an additional 36,566 shares during the last quarter. Brandes Investment Partners LP bought a new position in Arch Capital Group in the 2nd quarter worth approximately $48,119,000. Finally, NewEdge Advisors LLC lifted its holdings in shares of Arch Capital Group by 18.8% during the second quarter. NewEdge Advisors LLC now owns 14,914 shares of the insurance provider’s stock worth $1,505,000 after buying an additional 2,361 shares during the last quarter. Institutional investors own 89.07% of the company’s stock.

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.