Key Points
- Insider sale: Director John Pasquesi sold 203,866 shares on Dec. 12 at an average price of $93.90 for about $19.14 million, reducing his stake by 36.72% to 351,356 shares (SEC Form 4 filed).
- Company performance and outlook: Arch Capital recently beat quarterly expectations with $2.77 EPS and $5.11 billion revenue, has strong profitability (ROE 16.38%, net margin 20.96%), and carries a MarketBeat consensus rating of "Hold" with a $106 price target.
Arch Capital Group Ltd. (NASDAQ:ACGL - Get Free Report) insider John Pasquesi sold 8,800 shares of Arch Capital Group stock in a transaction dated Monday, December 15th. The stock was sold at an average price of $94.17, for a total transaction of $828,696.00. Following the sale, the insider owned 289,556 shares of the company's stock, valued at approximately $27,267,488.52. This trade represents a 2.95% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
Arch Capital Group Stock Performance
Shares of ACGL opened at $95.58 on Wednesday. Arch Capital Group Ltd. has a 1 year low of $82.44 and a 1 year high of $97.40. The company's 50 day simple moving average is $90.56 and its 200 day simple moving average is $90.35. The company has a market capitalization of $34.66 billion, a price-to-earnings ratio of 8.94, a PEG ratio of 2.23 and a beta of 0.47. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.55 and a current ratio of 0.55.
Arch Capital Group (NASDAQ:ACGL - Get Free Report) last issued its quarterly earnings results on Monday, October 27th. The insurance provider reported $2.77 earnings per share for the quarter, beating the consensus estimate of $1.76 by $1.01. Arch Capital Group had a return on equity of 16.38% and a net margin of 20.96%.The company had revenue of $5.11 billion during the quarter, compared to the consensus estimate of $4.39 billion. During the same period in the previous year, the firm posted $1.99 EPS. On average, sell-side analysts predict that Arch Capital Group Ltd. will post 8.42 EPS for the current year.
Institutional Trading of Arch Capital Group
A number of institutional investors and hedge funds have recently bought and sold shares of the business. WealthCollab LLC raised its holdings in Arch Capital Group by 410.3% in the third quarter. WealthCollab LLC now owns 296 shares of the insurance provider's stock valued at $27,000 after buying an additional 238 shares during the period. JPL Wealth Management LLC purchased a new position in shares of Arch Capital Group in the 3rd quarter valued at $28,000. Cornerstone Planning Group LLC lifted its holdings in shares of Arch Capital Group by 426.0% during the 3rd quarter. Cornerstone Planning Group LLC now owns 384 shares of the insurance provider's stock valued at $33,000 after acquiring an additional 311 shares in the last quarter. Quent Capital LLC acquired a new position in shares of Arch Capital Group during the 3rd quarter valued at $37,000. Finally, Richardson Financial Services Inc. boosted its position in Arch Capital Group by 63.3% during the 3rd quarter. Richardson Financial Services Inc. now owns 418 shares of the insurance provider's stock worth $38,000 after purchasing an additional 162 shares during the period. Institutional investors and hedge funds own 89.07% of the company's stock.
Wall Street Analyst Weigh In
Several equities analysts recently commented on ACGL shares. Royal Bank Of Canada set a $108.00 target price on Arch Capital Group and gave the company an "outperform" rating in a research note on Monday, November 24th. Citigroup reaffirmed a "market outperform" rating on shares of Arch Capital Group in a research note on Tuesday, October 28th. Weiss Ratings reiterated a "hold (c+)" rating on shares of Arch Capital Group in a report on Wednesday, October 8th. Mizuho set a $95.00 target price on shares of Arch Capital Group and gave the company a "neutral" rating in a report on Monday. Finally, The Goldman Sachs Group set a $88.00 price target on shares of Arch Capital Group and gave the stock a "sell" rating in a research report on Tuesday, October 14th. Eight research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $106.00.
Read Our Latest Stock Report on ACGL
Arch Capital Group Company Profile
(
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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