Key Points
- Arch Capital CFO Francois Morin sold 11,010 shares at an average price of $99.32, generating approximately $1.09 million. His remaining stake fell 5.62% to 184,826 shares.
- Arch Capital exceeded quarterly expectations, reporting earnings per share of $2.56 versus a $2.47 estimate and revenue of $4.67 billion versus $4.36 billion expected.
- Institutional investors own 89.07% of ACGL, while analysts’ consensus rating is “Hold” with an average price target of $111.11; the stock recently traded near $99.31.
Arch Capital Group Ltd. (NASDAQ:ACGL - Get Free Report) CFO Francois Morin sold 11,010 shares of the stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $99.32, for a total value of $1,093,513.20. Following the completion of the transaction, the chief financial officer owned 184,826 shares in the company, valued at approximately $18,356,918.32. The trade was a 5.62% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.
Arch Capital Group Price Performance
ACGL stock opened at $99.31 on Friday. The business has a 50 day moving average price of $98.77 and a 200 day moving average price of $96.73. The company has a quick ratio of 0.57, a current ratio of 0.57 and a debt-to-equity ratio of 0.23. The stock has a market cap of $33.89 billion, a price-to-earnings ratio of 7.76, a PEG ratio of 10.32 and a beta of 0.31. Arch Capital Group Ltd. has a fifty-two week low of $82.44 and a fifty-two week high of $107.08.
Arch Capital Group (NASDAQ:ACGL - Get Free Report) last released its quarterly earnings data on Tuesday, July 28th. The insurance provider reported $2.56 earnings per share for the quarter, topping analysts' consensus estimates of $2.47 by $0.09. The company had revenue of $4.67 billion for the quarter, compared to analysts' expectations of $4.36 billion. Arch Capital Group had a net margin of 24.40% and a return on equity of 17.06%. During the same quarter last year, the company earned $2.58 earnings per share. Equities research analysts anticipate that Arch Capital Group Ltd. will post 9.45 earnings per share for the current fiscal year.
Institutional Trading of Arch Capital Group
Several institutional investors and hedge funds have recently added to or reduced their stakes in ACGL. Headlands Technologies LLC lifted its position in Arch Capital Group by 1,308.2% during the 2nd quarter. Headlands Technologies LLC now owns 50,947 shares of the insurance provider's stock worth $4,945,000 after acquiring an additional 47,329 shares during the period. Quantitative Investment Management LLC purchased a new stake in shares of Arch Capital Group during the second quarter worth approximately $785,000. New Mexico Educational Retirement Board raised its stake in shares of Arch Capital Group by 2.9% during the second quarter. New Mexico Educational Retirement Board now owns 17,800 shares of the insurance provider's stock worth $1,728,000 after purchasing an additional 500 shares during the last quarter. Braun Stacey Associates Inc. lifted its holdings in shares of Arch Capital Group by 1.7% during the second quarter. Braun Stacey Associates Inc. now owns 230,526 shares of the insurance provider's stock worth $22,375,000 after purchasing an additional 3,920 shares during the period. Finally, Wellington Management Group LLP lifted its holdings in shares of Arch Capital Group by 7.2% during the second quarter. Wellington Management Group LLP now owns 1,189,970 shares of the insurance provider's stock worth $115,498,000 after purchasing an additional 79,869 shares during the period. 89.07% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
Several equities analysts have issued reports on the company. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Arch Capital Group in a report on Thursday, August 13th. Keefe, Bruyette & Woods reduced their target price on Arch Capital Group from $102.00 to $99.00 and set a "market perform" rating for the company in a report on Wednesday, July 8th. Wells Fargo & Company upped their target price on Arch Capital Group from $114.00 to $117.00 and gave the company an "overweight" rating in a research report on Thursday, July 30th. Citigroup restated a "market outperform" rating on shares of Arch Capital Group in a research note on Wednesday, July 29th. Finally, Morgan Stanley lifted their price target on Arch Capital Group from $105.00 to $110.00 and gave the stock an "overweight" rating in a research report on Monday, July 6th. Seven equities 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, the stock has an average rating of "Hold" and an average target price of $111.11.
Check Out Our Latest Stock Report on Arch Capital Group
About Arch Capital Group
(
Get Free Report)
Arch Capital Group Ltd. (NASDAQ: ACGL) is a Bermuda-based insurance and reinsurance holding company that underwrites a broad range of property and casualty, mortgage, and specialty risk products. The company operates through a group of underwriting subsidiaries and platforms to provide insurance, reinsurance and related risk solutions tailored to commercial, institutional and individual clients.
Arch's product mix includes treaty and facultative reinsurance, primary casualty and property insurance, mortgage insurance and other specialty lines.
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