Arch Capital Group Ltd. (NASDAQ:ACGL – Get Rating) CEO Maamoun Rajeh sold 12,237 shares of the company in a trade on Tuesday, June 7. The shares were sold at an average price of $47.06, for a total transaction of $575,873.22. As a result of the transaction, the CEO now owns 412,990 shares of the company, valued at $19,435,309.40. The transaction was disclosed in a filing with the SEC, which is available via this hyperlink.
Arch Capital Group shares were up $0.32 midday on Tuesday, hitting $47.42. 839,844 shares were traded, against an average volume of 1,927,106. The company has a market cap of $17.81 billion, a price-to-earnings ratio of 10.15, a growth price-to-earnings ratio of 1, 08 and a beta of 0.83. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt ratio of 0.24. The company has a 50-day simple moving average of $47.12 and a 200-day simple moving average of $46.00. Arch Capital Group Ltd. has a fifty-two week low of $36.53 and a fifty-two week high of $50.73.
Arch Capital Group (NASDAQ:ACGL – Get Rating) last announced its results on Wednesday, April 27. The insurance provider reported earnings per share (EPS) of $1.10 for the quarter, missing analyst consensus estimates of $1.13 per ($0.03). The company posted revenue of $2.19 billion for the quarter, versus analyst estimates of $2.34 billion. Arch Capital Group achieved a return on equity of 13.18% and a net margin of 21.45%. In the same quarter last year, the company achieved EPS of $0.59. On average, research analysts predict that Arch Capital Group Ltd. will post an EPS of 4.32 for the current fiscal year.
Institutional investors have recently changed their positions in the stock. CIBC Private Wealth Group LLC increased its position in Arch Capital Group shares by 30.6% during the fourth quarter. CIBC Private Wealth Group LLC now owns 48,236 shares of the insurance provider worth $2,145,000 after buying an additional 11,295 shares last quarter. Schroder Investment Management Group increased its position in Arch Capital Group shares by 452.5% during the third quarter. Schroder Investment Management Group now owns 127,606 shares of the insurance provider worth $4,872,000 after buying an additional 104,509 shares last quarter. Franklin Resources Inc. increased its stake in Arch Capital Group by 227.6% during the third quarter. Franklin Resources Inc. now owns 97,887 shares of the insurance provider worth $3,737,000 after acquiring an additional 68,004 shares in the last quarter. Sepio Capital LP increased its stake in Arch Capital Group by 5.0% during the 4th quarter. Sepio Capital LP now owns 16,215 shares of the insurance provider worth $721,000 after acquiring an additional 767 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. increased its stake in Arch Capital Group by 4.9% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 64,559 shares of the insurance provider worth $2,870,000 after acquiring 3,013 additional shares in the last quarter. Institutional investors and hedge funds hold 88.16% of the company’s shares.
Several research companies have recently commented on ACGL. StockNews.com upgraded Arch Capital Group shares from a “buy” to a “hold” rating in a Tuesday, April 12 research note. MKM Partners raised its price target on Arch Capital Group shares from $50.00 to $60.00 and gave the company a “buy” rating in a Thursday, Feb. 10 research note. Royal Bank of Canada raised its target price on shares of Arch Capital Group from $49.00 to $57.00 in a Friday, Feb. 11 research note. JMP Securities raised its price target on shares of Arch Capital Group from $50.00 to $55.00 in a Thursday, February 10 research note. Finally, Morgan Stanley lowered its price target on Arch Capital Group shares from $53.00 to $50.00 and set an “equal weight” rating for the company in a Monday, May 23 research note. . Two equity research analysts gave the stock a hold rating and eight gave the stock a buy rating. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $53.00.
About Arch Capital Group (Get a rating)
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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