Arch Capital Group Ltd. (NASDAQ:ACGL) CEO Sells $966,400.00 in Stock

Arch Capital Group Ltd. (NASDAQ:ACGL) CEO David Gansberg sold 10,000 shares of the business’s stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $96.64, for a total value of $966,400.00. Following the transaction, the chief executive officer now directly owns 228,035 shares of the company’s stock, valued at approximately $22,037,302.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Arch Capital Group Stock Performance

Shares of ACGL stock opened at $98.21 on Wednesday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.57 and a current ratio of 0.59. Arch Capital Group Ltd. has a fifty-two week low of $69.05 and a fifty-two week high of $98.54. The stock has a 50 day moving average price of $91.35 and a two-hundred day moving average price of $84.84. The company has a market capitalization of $36.84 billion, a P/E ratio of 7.75, a PEG ratio of 1.12 and a beta of 0.57.

Arch Capital Group (NASDAQ:ACGL) last announced its quarterly earnings data on Monday, April 29th. The insurance provider reported $2.45 earnings per share for the quarter, beating 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 firm had revenue of $4.09 billion during the quarter, compared to the consensus estimate of $3.77 billion. During the same quarter in the previous year, the company posted $1.73 earnings per share. The business’s revenue was up 19.3% on a year-over-year basis. Analysts expect that Arch Capital Group Ltd. will post 8.43 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages have recently commented on ACGL. JPMorgan Chase & Co. boosted their price objective on Arch Capital Group from $88.00 to $92.00 and gave the stock a “neutral” rating in a report on Monday, April 8th. Deutsche Bank Aktiengesellschaft upped their target price on Arch Capital Group from $103.00 to $110.00 and gave the stock a “buy” rating in a research note on Tuesday, April 30th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $98.00 target price on shares of Arch Capital Group in a research note on Friday, February 16th. Morgan Stanley upped their target price on Arch Capital Group from $104.00 to $109.00 and gave the stock an “overweight” rating in a research note on Monday, April 15th. Finally, Roth Mkm reaffirmed a “buy” rating and issued a $110.00 target price on shares of Arch Capital Group in a research note on Tuesday, April 30th. Four equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $100.67.

Hedge Funds Weigh In On Arch Capital Group

A number of hedge funds and other institutional investors have recently made changes to their positions in ACGL. Davis Asset Management L.P. raised 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 acquiring an additional 5,300,000 shares in the last quarter. Norges Bank bought a new position in shares of Arch Capital Group during the fourth quarter valued at approximately $309,496,000. Envestnet Asset Management Inc. raised its holdings in shares of Arch Capital Group by 112.4% during the third quarter. Envestnet Asset Management Inc. now owns 2,620,807 shares of the insurance provider’s stock valued at $208,905,000 after acquiring an additional 1,387,072 shares in the last quarter. Hsbc Holdings PLC raised its holdings in shares of Arch Capital Group by 597.9% during the third quarter. Hsbc Holdings PLC now owns 1,419,944 shares of the insurance provider’s stock valued at $113,516,000 after acquiring an additional 1,216,498 shares in the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its holdings in shares of Arch Capital Group by 61.6% during the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 3,191,282 shares of the insurance provider’s stock valued at $237,017,000 after acquiring an additional 1,216,080 shares in the last quarter. Institutional investors own 89.07% of the company’s stock.

About Arch Capital Group

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.