Wells Fargo Remains a Buy on Arch Capital Group (ACGL)

Wells Fargo analyst Elyse Greenspan maintained a Buy rating on Arch Capital Group on April 9 and set a price target of $109.00. The company’s shares closed yesterday at $98.84.

Easter Sale - 70% Off TipRanks

• Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
• Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks

Greenspan covers the Financial sector, focusing on stocks such as Progressive, Arthur J Gallagher & Co, and Brown & Brown. According to TipRanks, Greenspan has an average return of 5.1% and a 52.30% success rate on recommended stocks.

Arch Capital Group has an analyst consensus of Moderate Buy, with a price target consensus of $108.31, a 9.58% upside from current levels. In a report released on April 9, RBC Capital also maintained a Buy rating on the stock with a $115.00 price target.

Based on Arch Capital Group’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $5.39 billion and a net profit of $1.24 billion. In comparison, last year the company earned a revenue of $5.02 billion and had a net profit of $935 million

Based on the recent corporate insider activity of 55 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of ACGL in relation to earlier this year. Last month, Nicolas Papadopoulo, the CEO of ACGL sold 21,930.00 shares for a total of $2,111,859.00.