Arch Capital Group Ltd. (NASDAQ:ACGL) CFO Francois Morin sold 1,938 shares of the stock in a transaction dated Monday, June 11th. The stock was sold at an average price of $83.11, for a total value of $161,067.18. Following the transaction, the chief financial officer now directly owns 8,902 shares in the company, valued at approximately $739,845.22. The transaction was disclosed in a filing with the SEC, which is available at this link.
ACGL stock traded down $0.59 during mid-day trading on Wednesday, reaching $82.55. The company had a trading volume of 385,300 shares, compared to its average volume of 672,423. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.52 and a quick ratio of 0.52. The firm has a market capitalization of $11.33 billion, a P/E ratio of 25.72, a P/E/G ratio of 1.20 and a beta of 0.63. Arch Capital Group Ltd. has a fifty-two week low of $77.12 and a fifty-two week high of $102.60.
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Arch Capital Group shares are set to split on the morning of Tuesday, June 19th. The 3-1 split was announced on Wednesday, May 9th. The newly minted shares will be payable to shareholders after the market closes on Monday, June 18th.
Arch Capital Group (NASDAQ:ACGL) last posted its quarterly earnings results on Tuesday, May 1st. The insurance provider reported $1.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.55 by $0.14. The company had revenue of $1.41 billion for the quarter, compared to analyst estimates of $1.19 billion. Arch Capital Group had a return on equity of 6.04% and a net margin of 9.41%. Arch Capital Group’s revenue for the quarter was up 10.7% compared to the same quarter last year. During the same quarter last year, the company earned $1.42 EPS. analysts expect that Arch Capital Group Ltd. will post 6.34 EPS for the current year.
A number of hedge funds have recently bought and sold shares of ACGL. Teacher Retirement System of Texas purchased a new position in shares of Arch Capital Group in the 4th quarter valued at about $3,332,000. American International Group Inc. increased its holdings in shares of Arch Capital Group by 51.1% in the 4th quarter. American International Group Inc. now owns 7,768 shares of the insurance provider’s stock valued at $705,000 after acquiring an additional 2,628 shares during the last quarter. Arizona State Retirement System increased its holdings in shares of Arch Capital Group by 7.9% in the 4th quarter. Arizona State Retirement System now owns 123,356 shares of the insurance provider’s stock valued at $11,197,000 after acquiring an additional 9,077 shares during the last quarter. Schwab Charles Investment Management Inc. increased its holdings in shares of Arch Capital Group by 5.0% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 273,416 shares of the insurance provider’s stock valued at $24,818,000 after acquiring an additional 12,930 shares during the last quarter. Finally, University of Notre Dame DU Lac increased its holdings in shares of Arch Capital Group by 52.0% in the 4th quarter. University of Notre Dame DU Lac now owns 74,809 shares of the insurance provider’s stock valued at $6,790,000 after acquiring an additional 25,592 shares during the last quarter. 80.97% of the stock is currently owned by institutional investors.
A number of equities research analysts have issued reports on ACGL shares. ValuEngine raised Arch Capital Group from a “strong sell” rating to a “sell” rating in a research report on Wednesday, June 6th. BidaskClub raised Arch Capital Group from a “sell” rating to a “hold” rating in a research report on Tuesday, April 24th. Finally, Wells Fargo & Co set a $96.00 price target on Arch Capital Group and gave the company a “hold” rating in a research report on Tuesday, May 1st. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $103.50.
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.