Citizens JMP Sticks to Their Buy Rating for Arch Capital Group (ACGL)

In a report released today, Matthew Carletti from Citizens JMP reiterated a Buy rating on Arch Capital Group, with a price target of $125.00. The company’s shares closed yesterday at $92.25.

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According to TipRanks, Carletti is a 5-star analyst with an average return of 14.9% and a 63.25% success rate. Carletti covers the Financial sector, focusing on stocks such as GooseHead Insurance, Chubb, and Amerisafe.

Arch Capital Group has an analyst consensus of Moderate Buy, with a price target consensus of $108.50, representing a 17.62% upside. In a report released yesterday, Bank of America Securities also maintained a Buy rating on the stock with a $119.00 price target.

Based on Arch Capital Group’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $5.21 billion and a net profit of $1.24 billion. In comparison, last year the company earned a revenue of $4.06 billion and had a net profit of $1.27 billion

Based on the recent corporate insider activity of 48 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of ACGL in relation to earlier this year.