Wells Fargo analyst Elyse Greenspan maintained a Buy rating on Arch Capital Group (ACGL) today and set a price target of $48.00. The company’s shares closed last Wednesday at $39.49, close to its 52-week high of $40.67.
According to TipRanks.com, Greenspan is a 5-star analyst with an average return of 13.3% and a 68.5% success rate. Greenspan covers the Financial sector, focusing on stocks such as American International Group, Marsh & Mclennan Companies, and United Insurance Holdings.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Arch Capital Group with a $45.17 average price target, representing a 10.6% upside. In a report issued on April 14, RBC Capital also maintained a Buy rating on the stock with a $47.00 price target.
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The company has a one-year high of $40.67 and a one-year low of $20.93. Currently, Arch Capital Group has an average volume of 2.59M.
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Arch Capital Group Ltd. provides property and casualty insurance and reinsurance lines. It operates through the following segments: Insurance, Reinsurance, Mortgage, Corporate (Non-Underwriting), and Other. The Insurance segment consists of insurance underwriting units which offer specialty product lines like construction and national accounts, excess and surplus casualty, lenders products, professional lines, and programs. The Reinsurance segment is comprised of reinsurance underwriting which offer specialty product lines such as casualty, marine and aviation, other specialty, property catastrophe, property excluding property catastrophe, and other. The Mortgage segment is the operations that includes U.S. and international mortgage insurance and reinsurance operations as well as GSE credit risk sharing transactions. The Corporate (Non-Underwriting) segment includes net investment income, other income, corporate expense, interest expense, net realized gains and losses, net impairment losses. The Other segment refers to Watford Re. which is a variable interest entity. The company was founded by Clements Robert in 1995 and is headquartered in Hamilton, Bermuda.
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