Key Points
- Insider Maamoun Rajeh sold 48,661 shares at an average of $108.54, totaling about $5.28 million. He retained 418,645 shares after the sale, a 10.41% reduction in his ownership.
- Arch Capital reported quarterly EPS of $2.67, beating analysts’ $2.31 estimate, and revenue of $4.66 billion versus expectations of $4.06 billion.
- Analysts’ consensus rating was Hold, with an average price target of $111.65; shares recently traded at $109.61.
Arch Capital Group Ltd. (NASDAQ:ACGL - Get Free Report) insider Maamoun Rajeh sold 48,661 shares of the stock in a transaction on Tuesday, November 10th. The stock was sold at an average price of $108.54, for a total transaction of $5,281,664.94. Following the sale, the insider directly owned 418,645 shares in the company, valued at $45,439,728.30. This trade represents a 10.41% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.
Arch Capital Group Stock Performance
Shares of Arch Capital Group stock traded up $0.37 during trading hours on Friday, reaching $109.61. The company's stock had a trading volume of 1,489,998 shares, compared to its average volume of 2,112,029. The company's 50 day simple moving average is $99.87 and its 200 day simple moving average is $97.62. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.56 and a current ratio of 0.56. Arch Capital Group Ltd. has a one year low of $87.05 and a one year high of $113.63. The stock has a market cap of $37.40 billion, a P/E ratio of 8.96, a price-to-earnings-growth ratio of 3.56 and a beta of 0.22.
Arch Capital Group (NASDAQ:ACGL - Get Free Report) last posted its quarterly earnings results on Tuesday, October 27th. The insurance provider reported $2.67 EPS for the quarter, beating the consensus estimate of $2.31 by $0.36. Arch Capital Group had a net margin of 23.31% and a return on equity of 16.62%. The business had revenue of $4.66 billion during the quarter, compared to analyst estimates of $4.06 billion. During the same period in the previous year, the business posted $2.77 EPS. As a group, analysts expect that Arch Capital Group Ltd. will post 10.25 EPS for the current fiscal year.
Hedge Funds Weigh In On Arch Capital Group
Several hedge funds and other institutional investors have recently modified their holdings of the company. Madison Asset Management LLC acquired a new stake in Arch Capital Group in the 2nd quarter valued at approximately $368,808,000. First Trust Advisors LP raised its stake in Arch Capital Group by 319.5% during the 1st quarter. First Trust Advisors LP now owns 2,626,148 shares of the insurance provider's stock valued at $252,084,000 after acquiring an additional 2,000,162 shares in the last quarter. Hsbc Holdings PLC boosted its position in Arch Capital Group by 230.0% during the 1st quarter. Hsbc Holdings PLC now owns 1,286,178 shares of the insurance provider's stock worth $123,354,000 after acquiring an additional 896,480 shares during the period. Davis Asset Management L.P. acquired a new position in Arch Capital Group during the 2nd quarter worth $63,089,000. Finally, Arrowstreet Capital Limited Partnership boosted its position in Arch Capital Group by 50.6% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,910,063 shares of the insurance provider's stock worth $183,347,000 after acquiring an additional 641,462 shares during the period. Institutional investors and hedge funds own 89.07% of the company's stock.
Wall Street Analyst Weigh In
A number of equities analysts have issued reports on ACGL shares. Mizuho set a $100.00 target price on shares of Arch Capital Group and gave the stock a "neutral" rating in a report on Wednesday, September 16th. BMO Capital Markets lifted their target price on Arch Capital Group from $95.00 to $102.00 in a research note on Wednesday, August 5th. Evercore lowered their target price on Arch Capital Group from $105.00 to $103.00 in a report on Wednesday, October 28th. Bank of America increased their price target on Arch Capital Group from $129.00 to $131.00 and gave the stock a "buy" rating in a research report on Monday, October 12th. Finally, Keefe, Bruyette & Woods reiterated a "market perform" rating and set a $106.00 price target (up from $95.00) on shares of Arch Capital Group in a research report on Tuesday, November 3rd. Seven investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $111.65.
Check Out Our Latest Research Report on ACGL
Arch Capital Group Company Profile
(
Get Free Report)
Arch Capital Group Ltd. is a global insurance and reinsurance company headquartered in Bermuda. Through its insurance, reinsurance and mortgage insurance operations, it provides coverage and risk-management solutions to businesses, financial institutions and other customers. The company's offerings include property and casualty insurance, specialty coverage and reinsurance for risks such as property, casualty and professional liability. Its mortgage insurance business serves lenders and borrowers, primarily in the United States.
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