Insider Selling: Arch Capital Group (NASDAQ:ACGL) CFO Sells 8,000 Shares of Stock

by · The Cerbat Gem

Arch Capital Group Ltd. (NASDAQ:ACGL – Get Free Report) CFO Francois Morin sold 8,000 shares of the stock in a transaction 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 completion of the transaction, the chief financial officer directly owned 266,681 shares in the company, valued at $25,233,356.22. This trade represents a 2.91% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Arch Capital Group Trading Down 0.5%

Shares of Arch Capital Group stock traded down $0.47 during trading hours on Tuesday, reaching $92.69. The stock had a trading volume of 2,262,723 shares, compared to its average volume of 1,987,064. The firm has a 50 day simple moving average of $90.01 and a two-hundred day simple moving average of $90.39. The firm has a market capitalization of $33.61 billion, a price-to-earnings ratio of 8.67, a P/E/G ratio of 3.24 and a beta of 0.47. The company has a current ratio of 0.55, a quick ratio of 0.56 and a debt-to-equity ratio of 0.13. Arch Capital Group Ltd. has a 1 year low of $82.44 and a 1 year high of $100.48.

Arch Capital Group (NASDAQ:ACGL – Get Free Report) last issued its earnings results on Monday, October 27th. The insurance provider reported $2.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.76 by $1.01. The business had revenue of $5.11 billion during the quarter, compared to analysts’ expectations of $4.39 billion. Arch Capital Group had a return on equity of 16.38% and a net margin of 20.96%.During the same quarter in the previous year, the business earned $1.99 EPS. As a group, equities research analysts anticipate that Arch Capital Group Ltd. will post 8.42 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on ACGL shares. Wells Fargo & Company dropped their price objective on shares of Arch Capital Group from $111.00 to $106.00 and set an “overweight” rating for the company in a research report on Wednesday, October 29th. Citigroup reaffirmed a “market outperform” rating on shares of Arch Capital Group in a research report on Tuesday, October 28th. Morgan Stanley raised their price objective on Arch Capital Group from $105.00 to $110.00 and gave the company an “overweight” rating in a research report on Monday, November 17th. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $98.00 target price on shares of Arch Capital Group in a research report on Tuesday, October 28th. Finally, Barclays set a $99.00 target price on Arch Capital Group and gave the company an “equal weight” rating in a research note on Wednesday, October 8th. Eight analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $106.85.

Read Our Latest Research Report on ACGL

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of ACGL. Norges Bank purchased a new position in Arch Capital Group in the second quarter valued at about $441,551,000. Nuveen LLC acquired a new position in shares of Arch Capital Group in the 1st quarter valued at approximately $399,651,000. Cooke & Bieler LP purchased a new position in shares of Arch Capital Group during the 3rd quarter valued at approximately $210,856,000. First Trust Advisors LP boosted its stake in shares of Arch Capital Group by 409.5% during the 3rd quarter. First Trust Advisors LP now owns 2,835,648 shares of the insurance provider’s stock valued at $257,278,000 after buying an additional 2,279,147 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its position in shares of Arch Capital Group by 30.5% during the first quarter. JPMorgan Chase & Co. now owns 7,470,591 shares of the insurance provider’s stock worth $718,522,000 after buying an additional 1,743,945 shares in the last quarter. Institutional investors and hedge funds own 89.07% of the company’s stock.

Arch Capital Group Company Profile

(Get Free Report)

Arch Capital Group Ltd., together with its subsidiaries, provides insurance, reinsurance, and mortgage insurance products worldwide. The company's Insurance segment offers primary and excess casualty coverages; loss sensitive primary casualty insurance programs; 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.

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