Key Points
- CFO Francois Morin sold 8,000 shares on November 28 at an average price of $94.62 for about $756,960, reducing his direct holdings to 266,681 shares (a 2.91% ownership decrease, valued at ~$25.23M).
- Arch Capital reported strong results on October 27, with EPS of $2.77 versus $1.76 expected and revenue of $5.11 billion versus $4.39 billion, and posted a net margin of 20.96% and ROE of 16.38%.
- Analysts have a consensus rating of Hold with a $106.85 target; the stock trades near the low end of its 12‑month range (opened $92.69; 12‑month low $82.44, high $100.48) and has a P/E of 8.67 and market cap of $33.61 billion.
Arch Capital Group Ltd. (NASDAQ:ACGL - Get Free Report) CFO Francois Morin sold 8,000 shares of the firm's stock in a transaction that occurred on Friday, November 28th. The stock was sold at an average price of $94.62, for a total transaction of $756,960.00. Following the transaction, the chief financial officer directly owned 266,681 shares of the company's stock, valued at $25,233,356.22. This represents a 2.91% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.
Arch Capital Group Stock Down 0.5%
ACGL stock opened at $92.69 on Wednesday. The company has a market capitalization of $33.61 billion, a P/E ratio of 8.67, a price-to-earnings-growth ratio of 2.18 and a beta of 0.47. Arch Capital Group Ltd. has a 12 month low of $82.44 and a 12 month high of $100.48. The firm's fifty day simple moving average is $90.10 and its 200-day simple moving average is $90.38. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.55 and a quick ratio of 0.55.
Arch Capital Group (NASDAQ:ACGL - Get Free Report) last issued its earnings results on Monday, October 27th. The insurance provider reported $2.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.76 by $1.01. Arch Capital Group had a net margin of 20.96% and a return on equity of 16.38%. The firm had revenue of $5.11 billion during the quarter, compared to analysts' expectations of $4.39 billion. During the same quarter last year, the company posted $1.99 earnings per share. As a group, equities research analysts forecast that Arch Capital Group Ltd. will post 8.42 earnings per share for the current year.
Institutional Trading of Arch Capital Group
Institutional investors and hedge funds have recently made changes to their positions in the business. WealthCollab LLC lifted its position in shares of Arch Capital Group by 410.3% during the 3rd quarter. WealthCollab LLC now owns 296 shares of the insurance provider's stock valued at $27,000 after buying an additional 238 shares in the last quarter. JPL Wealth Management LLC acquired a new position in Arch Capital Group during the third quarter worth $28,000. Cornerstone Planning Group LLC raised its position in Arch Capital Group by 426.0% during the third quarter. Cornerstone Planning Group LLC now owns 384 shares of the insurance provider's stock worth $33,000 after acquiring an additional 311 shares during the period. Zions Bancorporation National Association UT purchased a new position in Arch Capital Group during the first quarter valued at $37,000. Finally, Quent Capital LLC acquired a new stake in shares of Arch Capital Group in the third quarter valued at about $37,000. 89.07% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
Several brokerages have recently issued reports on ACGL. Citigroup reissued a "market outperform" rating on shares of Arch Capital Group in a report on Tuesday, October 28th. Weiss Ratings reiterated a "hold (c+)" rating on shares of Arch Capital Group in a research report on Wednesday, October 8th. Wolfe Research started coverage on Arch Capital Group in a report on Monday, September 15th. They issued a "peer perform" rating for the company. The Goldman Sachs Group set a $88.00 price objective on shares of Arch Capital Group and gave the stock a "sell" rating in a research note on Tuesday, October 14th. Finally, Wells Fargo & Company cut their target price on shares of Arch Capital Group from $111.00 to $106.00 and set an "overweight" rating for the company in a report on Wednesday, October 29th. Eight research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, Arch Capital Group has a consensus rating of "Hold" and a consensus target price of $106.85.
Read Our Latest Stock Report on Arch Capital Group
About Arch Capital Group
(
Get Free Report)
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.
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