Arch Capital Group Ltd. (NASDAQ:ACGL) insider Louis T. Petrillo sold 23,982 shares of the business’s stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $34.33, for a total transaction of $823,302.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.
Shares of ACGL stock traded down $0.73 on Friday, hitting $33.78. 1,868,872 shares of the stock traded hands, compared to its average volume of 1,104,794. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 0.30. The stock has a market cap of $13.75 billion, a price-to-earnings ratio of 15.41, a PEG ratio of 1.19 and a beta of 0.70. Arch Capital Group Ltd. has a twelve month low of $24.79 and a twelve month high of $34.60.
Arch Capital Group (NASDAQ:ACGL) last announced its quarterly earnings results on Tuesday, April 30th. The insurance provider reported $0.67 earnings per share for the quarter, beating the consensus estimate of $0.62 by $0.05. The firm had revenue of $1.38 billion for the quarter, compared to analysts’ expectations of $1.28 billion. Arch Capital Group had a net margin of 17.93% and a return on equity of 10.24%. The company’s revenue was up 11.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.69 EPS. As a group, equities research analysts predict that Arch Capital Group Ltd. will post 2.6 EPS for the current year.
Several hedge funds have recently made changes to their positions in ACGL. Norges Bank acquired a new position in shares of Arch Capital Group during the 4th quarter valued at about $90,777,000. BlackRock Inc. lifted its position in Arch Capital Group by 4.0% in the first quarter. BlackRock Inc. now owns 28,877,605 shares of the insurance provider’s stock valued at $933,325,000 after buying an additional 1,101,677 shares during the last quarter. BNP Paribas Arbitrage SA lifted its position in Arch Capital Group by 876.8% in the first quarter. BNP Paribas Arbitrage SA now owns 1,134,453 shares of the insurance provider’s stock valued at $36,666,000 after buying an additional 1,018,319 shares during the last quarter. Robeco Institutional Asset Management B.V. lifted its position in Arch Capital Group by 885.3% in the first quarter. Robeco Institutional Asset Management B.V. now owns 645,596 shares of the insurance provider’s stock valued at $20,862,000 after buying an additional 580,071 shares during the last quarter. Finally, California Public Employees Retirement System lifted its position in Arch Capital Group by 40.9% in the fourth quarter. California Public Employees Retirement System now owns 1,954,606 shares of the insurance provider’s stock valued at $52,227,000 after buying an additional 567,170 shares during the last quarter. 81.04% of the stock is currently owned by hedge funds and other institutional investors.
Several equities research analysts have issued reports on the stock. Zacks Investment Research cut shares of Arch Capital Group from a “buy” rating to a “hold” rating in a research note on Tuesday, April 16th. BidaskClub cut shares of Arch Capital Group from a “buy” rating to a “hold” rating in a research note on Thursday, March 21st. ValuEngine raised shares of Arch Capital Group from a “sell” rating to a “hold” rating in a research note on Friday, March 15th. JMP Securities reaffirmed a “hold” rating on shares of Arch Capital Group in a research note on Sunday, February 17th. Finally, Wells Fargo & Co reaffirmed a “hold” rating and set a $32.00 target price on shares of Arch Capital Group in a research note on Tuesday, April 30th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the stock. Arch Capital Group has a consensus rating of “Hold” and a consensus target price of $31.00.
About Arch Capital Group
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.
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