Arch Capital Group (NASDAQ:ACGL) Coverage Initiated by Analysts at Barclays

Barclays assumed coverage on shares of Arch Capital Group (NASDAQ:ACGL - Free Report) in a report published on Wednesday, Marketbeat reports. The firm issued an equal weight rating and a $120.00 price target on the insurance provider's stock.

Other analysts have also issued reports about the company. Roth Mkm raised their price objective on Arch Capital Group from $110.00 to $125.00 and gave the company a buy rating in a research note on Friday, August 23rd. Royal Bank of Canada lifted their price target 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. JPMorgan Chase & Co. lifted their price target on Arch Capital Group from $106.00 to $108.00 and gave the company a neutral rating in a research note on Wednesday, July 31st. Deutsche Bank Aktiengesellschaft lifted their price target on Arch Capital Group from $110.00 to $120.00 and gave the company a buy rating in a research note on Monday, July 1st. Finally, Bank of America cut their price target on Arch Capital Group from $119.00 to $118.00 and set a buy rating on the stock in a research note on Thursday, July 11th. Six equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus target price of $107.44.

Arch Capital Group Price Performance

NASDAQ:ACGL traded down $1.13 during trading hours on Wednesday, hitting $112.19. The company's stock had a trading volume of 1,551,545 shares, compared to its average volume of 1,630,030. The stock has a fifty day simple moving average of $101.17 and a 200-day simple moving average of $96.97. The company has a market capitalization of $42.13 billion, a P/E ratio of 8.85, a PEG ratio of 2.05 and a beta of 0.60. 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 has a twelve month low of $72.85 and a twelve month high of $114.65.

Arch Capital Group (NASDAQ:ACGL - Get Free Report) last released its quarterly earnings data on Tuesday, July 30th. The insurance provider reported $2.57 earnings per share for the quarter, beating the consensus estimate of $2.21 by $0.36. The business had revenue of $3.78 billion for the quarter, compared to analyst estimates of $3.89 billion. Arch Capital Group had a return on equity of 21.42% and a net margin of 35.19%. Arch Capital Group's revenue was up 10.3% compared to the same quarter last year. During the same period last year, the firm posted $1.92 earnings per share. On average, analysts anticipate that Arch Capital Group will post 9.01 EPS for the current fiscal year.

Insiders Place Their Bets

In other Arch Capital Group news, CFO Francois Morin sold 11,460 shares of Arch Capital Group 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 completion of the sale, the chief financial officer now directly owns 221,779 shares in the company, valued at $22,723,476.34. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 4.20% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Arch Capital Group

A number of hedge funds have recently added to or reduced their stakes in the business. Sanctuary Advisors LLC bought a new stake in shares of Arch Capital Group during the second quarter valued at approximately $5,412,000. Cetera Investment Advisers increased its holdings in shares of Arch Capital Group by 18.4% during the second quarter. Cetera Investment Advisers now owns 49,193 shares of the insurance provider's stock valued at $4,963,000 after acquiring an additional 7,652 shares in the last quarter. Truist Financial Corp increased its holdings in shares of Arch Capital Group by 4.9% during the second quarter. Truist Financial Corp now owns 786,818 shares of the insurance provider's stock valued at $79,382,000 after acquiring an additional 36,566 shares in the last quarter. Brandes Investment Partners LP bought a new stake in shares of Arch Capital Group during the second quarter valued at approximately $48,119,000. Finally, NewEdge Advisors LLC increased 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 valued at $1,505,000 after acquiring an additional 2,361 shares in the last quarter. 89.07% of the stock is currently owned by institutional investors.

About Arch Capital Group

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.