Arch Capital Group Ltd. (NASDAQ: ACGLN – Get an assessment) was the target of significant short-term interest growth in June. As of June 15, there were short interests totaling 18,800 shares, a growth of 27.0% from the total of 14,800 shares as of May 31. Based on an average daily trading volume of 59,000 shares, the day-to-cover ratio is currently 0.3 days.
Separately, CEO Maamoun Rajeh sold 12,237 shares of the company in a trade on Tuesday, June 7. The stock was sold at an average price of $47.06, for a total transaction of $575,873.22. Following completion of the transaction, the CEO now directly owns 412,990 shares of the company, valued at approximately $19,435,309.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, available at the SEC website. Additionally, manager Brian S. Posner purchased 2,000 shares in a trade that took place on Friday, April 29. The shares were purchased at an average cost of $19.23 per share, with a total value of $38,460.00. Following the completion of the purchase, the director now directly owns 2,000 shares of the company, valued at $38,460. Disclosure of this purchase can be found here.
An institutional investor recently increased his position in shares of Arch Capital Group. PNC Financial Services Group Inc. increased its stake in the shares of Arch Capital Group Ltd. (NASDAQ: ACGLN – Get an assessment) by 273.6% in the first quarter, according to its latest filing with the Securities and Exchange Commission (SEC). The fund held 3,646 shares of the company after purchasing an additional 2,670 shares during the period. PNC Financial Services Group Inc.’s holdings in Arch Capital Group were worth $77,000 when it last filed with the Securities and Exchange Commission (SEC).
ACGLN opened at $19.43 on Monday. Arch Capital Group has a 12-month low of $17.96 and a 12-month high of $26.76. The company’s fifty-day moving average is $19.20.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 30. Shareholders of record on Thursday, September 15 will receive a dividend of $0.2844 per share. This represents a dividend of $1.14 on an annualized basis and a yield of 5.85%. The ex-date of this dividend is Wednesday, September 14.
Arch Capital Group Company Profile (Get an assessment)
Arch Capital Group Ltd., together with its subsidiaries, provides insurance, reinsurance and mortgage insurance products worldwide. The Company’s Insurance segment provides primary and excess liability insurance coverages; loss-sensitive primary casualty insurance programs; collateral protection, debt cancellation and service contract repayment products; directors’ and officers’ liability, errors and omissions liability, employment practices and fiduciary liability, crime, professional indemnity and other financial coverage; professional medical and general liability insurance coverage; and workers’ compensation and general liability, as well as commercial automotive and inland marine products.
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