Arch Capital Group (NASDAQ:ACGL) Reaches New 1-Year High at $38.15

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Arch Capital Group Ltd. (NASDAQ:ACGL)’s share price reached a new 52-week high during trading on Tuesday . The stock traded as high as $38.15 and last traded at $38.14, with a volume of 13584 shares changing hands. The stock had previously closed at $37.96.

A number of equities research analysts recently issued reports on the stock. Wells Fargo & Co reiterated a “buy” rating and issued a $157.00 price objective on shares of Chubb in a report on Tuesday, April 30th. BidaskClub cut shares of Xperi from a “sell” rating to a “strong sell” rating in a report on Wednesday, June 19th. Zacks Investment Research cut shares of Great Portland Estates from a “hold” rating to a “sell” rating in a report on Tuesday, April 16th. Morgan Stanley reiterated an “overweight” rating and issued a GBX 460 ($6.01) price objective on shares of Sophos Group in a report on Friday, May 17th. Finally, Deutsche Bank reiterated a “hold” rating and issued a GBX 1,775 ($23.19) price objective on shares of in a report on Wednesday, June 26th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $34.48.

The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 0.30. The stock’s fifty day moving average price is $35.96. The stock has a market cap of $15.49 billion, a P/E ratio of 17.44, a P/E/G ratio of 1.42 and a beta of 0.67.

Arch Capital Group (NASDAQ:ACGL) last released its quarterly earnings results on Tuesday, April 30th. The insurance provider reported $0.67 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.62 by $0.05. Arch Capital Group had a net margin of 17.93% and a return on equity of 10.24%. The company had revenue of $1.38 billion during the quarter, compared to analysts’ expectations of $1.28 billion. During the same period in the prior year, the company earned $1.69 earnings per share. The business’s quarterly revenue was up 11.9% compared to the same quarter last year. Equities analysts anticipate that Arch Capital Group Ltd. will post 2.67 EPS for the current year.

In other Arch Capital Group news, CEO Marc Grandisson sold 55,408 shares of the company’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $33.86, for a total transaction of $1,876,114.88. Following the completion of the sale, the chief executive officer now directly owns 115,487 shares in the company, valued at $3,910,389.82. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Vice Chairman John M. Pasquesi sold 299,741 shares of the company’s stock in a transaction dated Wednesday, May 29th. The shares were sold at an average price of $33.99, for a total transaction of $10,188,196.59. Following the sale, the insider now owns 2,832 shares of the company’s stock, valued at $96,259.68. The disclosure for this sale can be found here. Insiders have sold 498,343 shares of company stock valued at $16,927,360 over the last 90 days. Corporate insiders own 5.20% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the company. Quadrant Capital Group LLC raised its position in shares of Arch Capital Group by 200.0% during the first quarter. Quadrant Capital Group LLC now owns 948 shares of the insurance provider’s stock valued at $29,000 after buying an additional 632 shares during the last quarter. Optimum Investment Advisors raised its position in shares of Arch Capital Group by 333.3% during the first quarter. Optimum Investment Advisors now owns 1,300 shares of the insurance provider’s stock valued at $42,000 after buying an additional 1,000 shares during the last quarter. NumerixS Investment Technologies Inc acquired a new position in shares of Arch Capital Group during the fourth quarter valued at about $90,000. Wakefield Asset Management LLLP acquired a new position in shares of Arch Capital Group during the first quarter valued at about $152,000. Finally, ETF Managers Group LLC raised its position in shares of Arch Capital Group by 9.9% during the first quarter. ETF Managers Group LLC now owns 5,017 shares of the insurance provider’s stock valued at $162,000 after buying an additional 451 shares during the last quarter. 80.04% of the stock is owned by institutional investors and hedge funds.

About Arch Capital Group (NASDAQ:ACGL)

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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