Arch Capital Group (NASDAQ:ACGL) Sets New 1-Year High at $38.15

Arch Capital Group Ltd. (NASDAQ:ACGL)’s share price hit a new 52-week high on Tuesday . The company traded as high as $38.15 and last traded at $38.14, with a volume of 13584 shares changing hands. The stock had previously closed at $37.96.

ACGL has been the topic of a number of research analyst reports. Barclays reiterated a “buy” rating and issued a $65.00 target price on shares of Owens Corning in a report on Monday, July 1st. BidaskClub cut Xperi from a “sell” rating to a “strong sell” rating in a report on Wednesday, June 19th. ValuEngine upgraded ZEALAND PHARMA/S from a “sell” rating to a “hold” rating in a report on Friday, March 15th. Wells Fargo & Co reissued a “buy” rating and issued a $157.00 price objective on shares of Chubb in a research report on Tuesday, April 30th. Finally, Morgan Stanley reissued an “overweight” rating and issued a GBX 460 ($6.01) price objective on shares of Sophos Group in a research report on Friday, May 17th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the company’s stock. Arch Capital Group currently has a consensus rating of “Hold” and a consensus price target of $34.48.

The firm has a market capitalization of $15.49 billion, a price-to-earnings ratio of 17.44, a PEG ratio of 1.42 and a beta of 0.67. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 0.30. The firm has a 50-day moving average price of $35.96.

Arch Capital Group (NASDAQ:ACGL) last announced its quarterly earnings data on Tuesday, April 30th. The insurance provider reported $0.67 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.62 by $0.05. The firm had revenue of $1.38 billion during the quarter, compared to analyst estimates of $1.28 billion. Arch Capital Group had a return on equity of 10.24% and a net margin of 17.93%. Arch Capital Group’s quarterly revenue was up 11.9% on a year-over-year basis. During the same period in the previous year, the company earned $1.69 earnings per share. As a group, analysts forecast that Arch Capital Group Ltd. will post 2.67 EPS for the current year.

In other Arch Capital Group news, CEO Maamoun Rajeh sold 17,712 shares of Arch Capital Group stock in a transaction that occurred on Friday, May 17th. The stock was sold at an average price of $33.71, for a total value of $597,071.52. Following the completion of the transaction, the chief executive officer now directly owns 330,031 shares in the company, valued at $11,125,345.01. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Louis T. Petrillo sold 23,982 shares of Arch Capital Group stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $34.33, for a total value of $823,302.06. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 498,343 shares of company stock valued at $16,927,360. 5.20% of the stock is currently owned by insiders.

A number of hedge funds have recently modified their holdings of ACGL. ETF Managers Group LLC lifted its position in Arch Capital Group by 9.9% in the first quarter. ETF Managers Group LLC now owns 5,017 shares of the insurance provider’s stock worth $162,000 after purchasing an additional 451 shares during the period. Quadrant Capital Group LLC increased its holdings in shares of Arch Capital Group by 200.0% in the first quarter. Quadrant Capital Group LLC now owns 948 shares of the insurance provider’s stock valued at $29,000 after buying an additional 632 shares in the last quarter. Daiwa Securities Group Inc. increased its holdings in shares of Arch Capital Group by 5.7% in the first quarter. Daiwa Securities Group Inc. now owns 14,750 shares of the insurance provider’s stock valued at $477,000 after buying an additional 800 shares in the last quarter. Pictet North America Advisors SA increased its holdings in shares of Arch Capital Group by 0.3% in the first quarter. Pictet North America Advisors SA now owns 264,535 shares of the insurance provider’s stock valued at $8,550,000 after buying an additional 903 shares in the last quarter. Finally, Banque Pictet & Cie SA increased its holdings in shares of Arch Capital Group by 0.3% in the first quarter. Banque Pictet & Cie SA now owns 264,535 shares of the insurance provider’s stock valued at $8,550,000 after buying an additional 903 shares in the last quarter. Institutional investors own 80.04% of the company’s stock.

Arch Capital Group Company Profile (NASDAQ:ACGL)

Arch Capital Group Ltd., together with its subsidiaries, provides property, casualty, and mortgage insurance and reinsurance products worldwide. The company's Insurance segment offers primary and excess casualty coverages; loss sensitive primary casualty insurance programs; collateral protection, debt cancellation, and service contract reimbursement products; directors' and officers' liability, errors and omissions liability, employment practices and fiduciary liability, crime, professional indemnity, and other financial related coverages; medical professional and general liability insurance coverages; and workers' compensation and umbrella liability, as well as commercial automobile and inland marine products.

Further Reading: Outstanding Shares

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