Arch Capital Group (NASDAQ:ACGL) Given New $110.00 Price Target at Wells Fargo & Company

Arch Capital Group (NASDAQ:ACGL) had its price target reduced by Wells Fargo & Company from $111.00 to $110.00 in a report published on Monday morning, Benzinga reports. Wells Fargo & Company currently has an overweight rating on the insurance provider’s stock.

A number of other analysts have also recently issued reports on ACGL. JMP Securities increased their target price on Arch Capital Group from $110.00 to $115.00 and gave the stock a market outperform rating in a research note on Wednesday, July 31st. JPMorgan Chase & Co. increased their price objective on shares of Arch Capital Group from $106.00 to $108.00 and gave the stock a neutral rating in a research report on Wednesday, July 31st. Evercore ISI boosted their price objective on shares of Arch Capital Group from $100.00 to $104.00 and gave the company an in-line rating in a research report on Wednesday, July 31st. Royal Bank of Canada upped their target price on shares of Arch Capital Group from $108.00 to $112.00 and gave the stock an outperform rating in a research note on Thursday, August 1st. Finally, Bank of America lowered their target price on Arch Capital Group from $119.00 to $118.00 and set a buy rating for the company in a report on Thursday, July 11th. Five equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and a consensus target price of $105.56.

Arch Capital Group Stock Performance

Shares of Arch Capital Group stock opened at $100.90 on Monday. The stock’s fifty day simple moving average is $98.53 and its 200 day simple moving average is $94.23. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 0.16. The company has a market capitalization of $37.94 billion, a PE ratio of 7.96, a PEG ratio of 1.80 and a beta of 0.58. Arch Capital Group has a 12 month low of $72.85 and a 12 month high of $103.79.

Arch Capital Group (NASDAQ:ACGL) last announced its quarterly earnings results on Tuesday, July 30th. The insurance provider reported $2.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.21 by $0.36. The company had revenue of $3.78 billion during the quarter, compared to the consensus estimate of $3.89 billion. Arch Capital Group had a return on equity of 21.42% and a net margin of 35.19%. The company’s revenue for the quarter was up 10.3% compared to the same quarter last year. During the same period in the prior year, the company earned $1.92 earnings per share. On average, research analysts predict that Arch Capital Group will post 8.93 EPS for the current year.

Institutional Trading of Arch Capital Group

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Larson Financial Group LLC acquired a new position in shares of Arch Capital Group during the 4th quarter worth approximately $30,000. UMB Bank n.a. acquired a new position in Arch Capital Group during the second quarter worth $30,000. Baldwin Brothers LLC MA increased its holdings in Arch Capital Group by 50.7% during the second quarter. Baldwin Brothers LLC MA now owns 309 shares of the insurance provider’s stock worth $31,000 after buying an additional 104 shares during the last quarter. Richardson Financial Services Inc. bought a new stake in Arch Capital Group during the fourth quarter worth $33,000. Finally, Rothschild Investment LLC acquired a new stake in Arch Capital Group in the second quarter valued at $35,000. Institutional investors own 89.07% of the company’s stock.

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.