Arch Capital Group (NASDAQ:ACGL) Trading 1.2% Higher

Arch Capital Group Ltd. (NASDAQ:ACGL)’s stock price traded up 1.2% during mid-day trading on Friday . The company traded as high as $100.13 and last traded at $100.01. 217,134 shares traded hands during trading, a decline of 87% from the average session volume of 1,671,221 shares. The stock had previously closed at $98.82.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. Bank of America boosted their target price on Arch Capital Group from $105.00 to $109.00 and gave the stock a “buy” rating in a report on Tuesday, April 30th. StockNews.com upgraded Arch Capital Group from a “hold” rating to a “buy” rating in a report on Friday. Roth Mkm restated a “buy” rating and issued a $110.00 price target on shares of Arch Capital Group in a report on Tuesday, April 30th. Morgan Stanley upped their price target on Arch Capital Group from $104.00 to $109.00 and gave the stock an “overweight” rating in a report on Monday, April 15th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $98.00 price target on shares of Arch Capital Group in a report on Friday, February 16th. Four equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $100.67.

Arch Capital Group Stock Performance

The company has a market cap of $37.93 billion, a P/E ratio of 7.89, a PEG ratio of 1.14 and a beta of 0.57. The company has a 50 day moving average price of $93.11 and a 200-day moving average price of $85.71. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 0.17.

Arch Capital Group (NASDAQ:ACGL) last released its quarterly earnings results on Monday, April 29th. The insurance provider reported $2.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.06 by $0.39. Arch Capital Group had a return on equity of 21.85% and a net margin of 33.65%. The company had revenue of $4.09 billion during the quarter, compared to analysts’ expectations of $3.77 billion. During the same quarter in the prior year, the business posted $1.73 earnings per share. The company’s revenue for the quarter was up 19.3% compared to the same quarter last year. Equities analysts expect that Arch Capital Group Ltd. will post 8.55 EPS for the current fiscal year.

Insider Activity at Arch Capital Group

In related news, CFO Francois Morin sold 25,689 shares of the firm’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $87.47, for a total transaction of $2,247,016.83. Following the completion of the transaction, the chief financial officer now owns 221,779 shares of the company’s stock, valued at $19,399,009.13. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, CFO Francois Morin sold 25,689 shares of the company’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $87.47, for a total transaction of $2,247,016.83. Following the completion of the sale, the chief financial officer now directly owns 221,779 shares of the company’s stock, valued at $19,399,009.13. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Maamoun Rajeh sold 50,000 shares of the company’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $87.48, for a total value of $4,374,000.00. Following the sale, the chief executive officer now directly owns 336,170 shares of the company’s stock, valued at $29,408,151.60. The disclosure for this sale can be found here. Insiders sold 145,689 shares of company stock valued at $12,838,617 over the last 90 days. 4.20% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Arch Capital Group

Several hedge funds have recently modified their holdings of ACGL. Davis Asset Management L.P. lifted its holdings in shares of Arch Capital Group by 441.7% during the fourth quarter. Davis Asset Management L.P. now owns 6,500,000 shares of the insurance provider’s stock valued at $482,755,000 after purchasing an additional 5,300,000 shares during the last quarter. Norges Bank purchased a new stake in Arch Capital Group in the 4th quarter worth about $309,496,000. Capital International Investors lifted its stake in Arch Capital Group by 61.1% in the 1st quarter. Capital International Investors now owns 4,112,577 shares of the insurance provider’s stock worth $380,167,000 after acquiring an additional 1,560,173 shares in the last quarter. Envestnet Asset Management Inc. lifted its stake in Arch Capital Group by 112.4% in the 3rd quarter. Envestnet Asset Management Inc. now owns 2,620,807 shares of the insurance provider’s stock worth $208,905,000 after acquiring an additional 1,387,072 shares in the last quarter. Finally, Hsbc Holdings PLC lifted its stake in Arch Capital Group by 597.9% in the 3rd quarter. Hsbc Holdings PLC now owns 1,419,944 shares of the insurance provider’s stock worth $113,516,000 after acquiring an additional 1,216,498 shares in the last quarter. 89.07% of the stock is owned by hedge funds and other institutional investors.

Arch Capital Group Company Profile

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.