Arch Capital Group Ltd. (NASDAQ:ACGL) insider Louis T. Petrillo sold 2,990 shares of Arch Capital Group stock in a transaction dated Wednesday, May 24th. The shares were sold at an average price of $94.98, for a total transaction of $283,990.20. Following the sale, the insider now owns 56,268 shares of the company’s stock, valued at approximately $5,344,334.64. The sale was disclosed in a document filed with the SEC, which is available through this link.
Arch Capital Group Ltd. (NASDAQ:ACGL) traded up 0.13% during midday trading on Friday, reaching $94.43. The company’s stock had a trading volume of 879,091 shares. Arch Capital Group Ltd. has a 1-year low of $67.50 and a 1-year high of $99.21. The company’s 50-day moving average price is $95.63 and its 200-day moving average price is $92.14. The company has a market capitalization of $12.66 billion, a price-to-earnings ratio of 16.01 and a beta of 0.66.
Arch Capital Group (NASDAQ:ACGL) last announced its quarterly earnings data on Tuesday, April 25th. The insurance provider reported $1.42 EPS for the quarter, topping analysts’ consensus estimates of $1.33 by $0.09. Arch Capital Group had a return on equity of 8.85% and a net margin of 16.92%. The business had revenue of $1.23 billion during the quarter, compared to analysts’ expectations of $1.19 billion. During the same period in the previous year, the firm earned $1.20 earnings per share. On average, analysts predict that Arch Capital Group Ltd. will post $5.42 earnings per share for the current fiscal year.
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A number of hedge funds and other institutional investors have recently bought and sold shares of ACGL. Russell Investments Group Ltd. acquired a new position in Arch Capital Group during the fourth quarter valued at $47,646,000. D.A. Davidson & CO. raised its stake in shares of Arch Capital Group by 4.4% in the third quarter. D.A. Davidson & CO. now owns 43,326 shares of the insurance provider’s stock worth $3,433,000 after buying an additional 1,836 shares during the period. UBS Group AG raised its stake in shares of Arch Capital Group by 195.3% in the third quarter. UBS Group AG now owns 65,489 shares of the insurance provider’s stock worth $5,190,000 after buying an additional 43,313 shares during the period. HighTower Advisors LLC raised its stake in shares of Arch Capital Group by 28.7% in the third quarter. HighTower Advisors LLC now owns 8,969 shares of the insurance provider’s stock worth $711,000 after buying an additional 2,001 shares during the period. Finally, Dynamic Capital Management Ltd purchased a new stake in shares of Arch Capital Group during the third quarter worth approximately $2,771,000. Hedge funds and other institutional investors own 77.66% of the company’s stock.
A number of research firms have weighed in on ACGL. BidaskClub cut shares of Arch Capital Group from a “hold” rating to a “sell” rating in a research report on Saturday, June 10th. Wells Fargo & Company reissued a “hold” rating on shares of Arch Capital Group in a report on Wednesday, April 26th. Keefe, Bruyette & Woods set a $95.00 target price on shares of Arch Capital Group and gave the stock a “hold” rating in a research note on Thursday, April 6th. Deutsche Bank AG increased their price target on shares of Arch Capital Group from $78.00 to $87.00 and gave the stock a “hold” rating in a research report on Thursday, March 30th. Finally, Morgan Stanley raised their target price on shares of Arch Capital Group from $90.00 to $96.00 and gave the company an “equal weight” rating in a report on Friday, April 28th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and four have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $91.50.
Arch Capital Group Company Profile
Arch Capital Group Ltd. provides insurance, reinsurance and mortgage insurance. The Company provides a range of property, casualty and mortgage insurance and reinsurance lines. The Company operates in five segments: insurance, reinsurance, mortgage, other and corporate. The insurance segment’s product lines include construction and national accounts; excess and surplus casualty; lenders products; professional lines; programs; property, energy, marine and aviation; travel, accident and health, and other.
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