Short Interest in Arch Capital Group Ltd. (NASDAQ:ACGL) Expands By 21.1%

Arch Capital Group Ltd. (NASDAQ:ACGLGet Rating) was the recipient of a significant growth in short interest in August. As of August 31st, there was short interest totalling 3,900,000 shares, a growth of 21.1% from the August 15th total of 3,220,000 shares. Based on an average trading volume of 1,570,000 shares, the days-to-cover ratio is currently 2.5 days. Approximately 1.1% of the company’s stock are short sold.

Arch Capital Group Price Performance

Shares of NASDAQ ACGL opened at $46.52 on Friday. The business’s 50 day moving average price is $45.32 and its 200 day moving average price is $45.98. The firm has a market cap of $17.17 billion, a P/E ratio of 11.40, a P/E/G ratio of 1.02 and a beta of 0.73. Arch Capital Group has a 52 week low of $37.44 and a 52 week high of $50.73. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 0.26.

Arch Capital Group (NASDAQ:ACGLGet Rating) last issued its earnings results on Wednesday, July 27th. The insurance provider reported $1.34 EPS for the quarter, beating analysts’ consensus estimates of $1.09 by $0.25. The firm had revenue of $2.68 billion for the quarter, compared to analyst estimates of $2.51 billion. Arch Capital Group had a return on equity of 14.45% and a net margin of 19.06%. Arch Capital Group’s revenue for the quarter was up 11.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.00 earnings per share. On average, sell-side analysts expect that Arch Capital Group will post 4.64 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. Morgan Stanley cut their price objective on shares of Arch Capital Group from $53.00 to $50.00 and set an “equal weight” rating on the stock in a report on Monday, May 23rd. Barclays cut their price objective on shares of Arch Capital Group from $54.00 to $52.00 and set an “overweight” rating on the stock in a report on Thursday, July 14th. Finally, StockNews.com downgraded shares of Arch Capital Group from a “buy” rating to a “hold” rating in a report on Monday, August 22nd. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, Arch Capital Group presently has a consensus rating of “Moderate Buy” and a consensus price target of $53.38.

Insider Activity at Arch Capital Group

In related news, CFO Francois Morin sold 16,885 shares of Arch Capital Group stock in a transaction dated Friday, August 12th. The stock was sold at an average price of $46.92, for a total value of $792,244.20. Following the completion of the sale, the chief financial officer now directly owns 193,259 shares in the company, valued at $9,067,712.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Arch Capital Group news, CFO Francois Morin sold 16,885 shares of the business’s stock in a transaction dated Friday, August 12th. The shares were sold at an average price of $46.92, for a total value of $792,244.20. Following the completion of the transaction, the chief financial officer now directly owns 193,259 shares in the company, valued at $9,067,712.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Louis T. Petrillo sold 7,638 shares of the business’s stock in a transaction dated Monday, August 15th. The stock was sold at an average price of $46.68, for a total transaction of $356,541.84. Following the completion of the transaction, the insider now owns 121,297 shares of the company’s stock, valued at $5,662,143.96. The disclosure for this sale can be found here. Insiders sold 40,546 shares of company stock worth $1,883,120 over the last three months. 4.20% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Arch Capital Group

A number of large investors have recently bought and sold shares of ACGL. HighTower Advisors LLC boosted its position in Arch Capital Group by 5.3% in the 4th quarter. HighTower Advisors LLC now owns 27,015 shares of the insurance provider’s stock worth $1,202,000 after purchasing an additional 1,354 shares in the last quarter. Csenge Advisory Group purchased a new stake in Arch Capital Group in the 4th quarter worth approximately $208,000. Prudential PLC purchased a new stake in Arch Capital Group in the 4th quarter worth approximately $406,000. Ensign Peak Advisors Inc boosted its position in Arch Capital Group by 186.9% in the 4th quarter. Ensign Peak Advisors Inc now owns 142,375 shares of the insurance provider’s stock worth $6,329,000 after purchasing an additional 92,750 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in Arch Capital Group by 0.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,144,205 shares of the insurance provider’s stock worth $50,860,000 after purchasing an additional 9,012 shares in the last quarter. Hedge funds and other institutional investors own 87.61% of the company’s stock.

Arch Capital Group Company Profile

(Get Rating)

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; 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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