Arch Capital Group (NASDAQ:ACGL) Sets New 1-Year High – Here’s Why

Shares of Arch Capital Group Ltd. (NASDAQ:ACGL) hit a new 52-week high on Tuesday . The stock traded as high as $97.85 and last traded at $97.0450, with a volume of 232500 shares changing hands. The stock had previously closed at $96.71.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on ACGL shares. Morgan Stanley set a $125.00 target price on shares of Arch Capital Group in a report on Friday, January 16th. JPMorgan Chase & Co. upped their price target on Arch Capital Group from $111.00 to $117.00 and gave the company a “neutral” rating in a research note on Wednesday, January 7th. Evercore ISI set a $100.00 price target on shares of Arch Capital Group and gave the company an “in-line” rating in a research report on Wednesday, January 7th. Barclays set a $104.00 price target on shares of Arch Capital Group and gave the company an “equal weight” rating in a research note on Thursday, January 8th. Finally, Roth Mkm set a $110.00 price objective on shares of Arch Capital Group and gave the stock a “buy” rating in a research report on Tuesday, December 2nd. Eight research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Arch Capital Group has a consensus rating of “Hold” and a consensus target price of $107.53.

Arch Capital Group Price Performance

The company has a market capitalization of $35.27 billion, a PE ratio of 9.10, a P/E/G ratio of 2.02 and a beta of 0.45. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 0.13. The stock has a fifty day simple moving average of $94.05 and a 200-day simple moving average of $91.24.

Insider Buying and Selling at Arch Capital Group

In other Arch Capital Group news, insider John M. Pasquesi sold 8,800 shares of the company’s stock in a transaction on Monday, December 15th. The shares were sold at an average price of $94.17, for a total value of $828,696.00. Following the completion of the transaction, the insider owned 289,556 shares in the company, valued at $27,267,488.52. This represents a 2.95% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Francois Morin sold 8,000 shares of the firm’s stock in a transaction that occurred on Friday, November 28th. The stock was sold at an average price of $94.62, for a total value of $756,960.00. Following the transaction, the chief financial officer owned 266,681 shares in the company, valued at $25,233,356.22. This represents a 2.91% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 220,666 shares of company stock worth $20,728,673 over the last quarter. 4.20% of the stock is owned by company insiders.

Institutional Investors Weigh In On Arch Capital Group

A number of hedge funds have recently added to or reduced their stakes in the company. WealthCollab LLC boosted its stake in shares of Arch Capital Group by 410.3% in the third quarter. WealthCollab LLC now owns 296 shares of the insurance provider’s stock valued at $27,000 after buying an additional 238 shares in the last quarter. JPL Wealth Management LLC acquired a new position in Arch Capital Group during the third quarter worth about $28,000. Grove Bank & Trust purchased a new stake in shares of Arch Capital Group in the fourth quarter valued at about $30,000. Aventura Private Wealth LLC acquired a new stake in shares of Arch Capital Group in the fourth quarter valued at approximately $30,000. Finally, TD Waterhouse Canada Inc. increased its stake in shares of Arch Capital Group by 72.7% during the 4th quarter. TD Waterhouse Canada Inc. now owns 323 shares of the insurance provider’s stock worth $31,000 after purchasing an additional 136 shares in the last quarter. Institutional investors and hedge funds own 89.07% of the company’s stock.

About Arch Capital Group

Arch Capital Group Ltd. (NASDAQ: ACGL) is a Bermuda-based insurance and reinsurance holding company that underwrites a broad range of property and casualty, mortgage, and specialty risk products. The company operates through a group of underwriting subsidiaries and platforms to provide insurance, reinsurance and related risk solutions tailored to commercial, institutional and individual clients.

Arch’s product mix includes treaty and facultative reinsurance, primary casualty and property insurance, mortgage insurance and other specialty lines.