Arch Capital Group (NASDAQ:ACGL) Insider Sells $569,257.59 in Stock

by · The Markets Daily

Arch Capital Group Ltd. (NASDAQ:ACGL – Get Free Report) insider David Gansberg sold 5,907 shares of the business’s stock in a transaction that occurred on Tuesday, March 10th. The shares were sold at an average price of $96.37, for a total value of $569,257.59. Following the completion of the sale, the insider owned 336,559 shares of the company’s stock, valued at approximately $32,434,190.83. This represents a 1.72% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Arch Capital Group Stock Performance

Shares of ACGL stock traded down $0.59 during trading hours on Thursday, hitting $94.22. The stock had a trading volume of 2,142,955 shares, compared to its average volume of 2,046,837. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.53 and a quick ratio of 0.53. The firm has a market capitalization of $33.52 billion, a PE ratio of 8.11, a PEG ratio of 3.87 and a beta of 0.40. The stock’s 50 day moving average is $96.25 and its 200 day moving average is $93.00. Arch Capital Group Ltd. has a twelve month low of $82.44 and a twelve month high of $103.39.

Arch Capital Group (NASDAQ:ACGL – Get Free Report) last announced its earnings results on Monday, February 9th. The insurance provider reported $2.98 EPS for the quarter, beating analysts’ consensus estimates of $2.34 by $0.64. Arch Capital Group had a net margin of 22.07% and a return on equity of 16.73%. The business had revenue of $4.93 billion for the quarter, compared to analysts’ expectations of $3.94 billion. During the same period in the previous year, the company posted $2.26 EPS. As a group, research analysts forecast that Arch Capital Group Ltd. will post 8.42 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have recently commented on ACGL shares. JPMorgan Chase & Co. upped their target price on shares of Arch Capital Group from $111.00 to $117.00 and gave the company a “neutral” rating in a report on Wednesday, January 7th. Citigroup reissued a “buy” rating and set a $120.00 price target (up from $113.00) on shares of Arch Capital Group in a report on Friday, February 13th. Morgan Stanley set a $125.00 price target on Arch Capital Group in a research report on Friday, January 16th. Barclays set a $104.00 price objective on Arch Capital Group and gave the company an “equal weight” rating in a research note on Thursday, January 8th. Finally, Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $104.00 target price (up from $102.00) on shares of Arch Capital Group in a research note on Thursday, February 12th. Nine equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $109.20.

Read Our Latest Research Report on ACGL

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Geneos Wealth Management Inc. raised its holdings in Arch Capital Group by 157.9% during the first quarter. Geneos Wealth Management Inc. now owns 673 shares of the insurance provider’s stock worth $65,000 after purchasing an additional 412 shares in the last quarter. Sivia Capital Partners LLC acquired a new position in Arch Capital Group during the 2nd quarter worth approximately $253,000. Savant Capital LLC increased its position in Arch Capital Group by 9.6% during the 2nd quarter. Savant Capital LLC now owns 15,083 shares of the insurance provider’s stock worth $1,373,000 after purchasing an additional 1,315 shares during the period. Vestmark Advisory Solutions Inc. purchased a new position in shares of Arch Capital Group during the 2nd quarter worth approximately $338,000. Finally, Penserra Capital Management LLC raised its stake in shares of Arch Capital Group by 12.1% during the 2nd quarter. Penserra Capital Management LLC now owns 1,949 shares of the insurance provider’s stock worth $177,000 after buying an additional 211 shares in the last quarter. 89.07% of the stock is currently owned by institutional investors and hedge funds.

About Arch Capital Group

(Get Free Report)

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.

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