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 firm’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $96.64, for a total transaction of $966,400.00. Following the transaction, the chief executive officer now directly owns 228,035 shares of the company’s stock, valued at $22,037,302.40. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.

Arch Capital Group Trading Up 0.7 %

Shares of ACGL stock opened at $98.93 on Thursday. The stock’s fifty day simple moving average is $91.78 and its 200 day simple moving average is $85.05. Arch Capital Group Ltd. has a twelve month low of $69.05 and a twelve month high of $99.70. The firm has a market capitalization of $37.11 billion, a P/E ratio of 7.81, a P/E/G ratio of 1.12 and a beta of 0.57. The company has a quick ratio of 0.57, a current ratio of 0.59 and a debt-to-equity ratio of 0.17.

Arch Capital Group (NASDAQ:ACGL) last issued its quarterly earnings data on Monday, April 29th. The insurance provider reported $2.45 earnings per share for the quarter, topping the consensus estimate of $2.06 by $0.39. Arch Capital Group had a net margin of 33.65% and a return on equity of 21.85%. The company had revenue of $4.09 billion for the quarter, compared to analysts’ expectations of $3.77 billion. During the same quarter in the previous year, the firm posted $1.73 earnings per share. Arch Capital Group’s revenue for the quarter was up 19.3% on a year-over-year basis. As a group, sell-side analysts predict that Arch Capital Group Ltd. will post 8.43 EPS for the current fiscal year.

Institutional Investors Weigh In On Arch Capital Group

Institutional investors have recently modified their holdings of the company. Capital World Investors boosted its holdings in shares of Arch Capital Group by 0.6% during the 4th quarter. Capital World Investors now owns 10,611,092 shares of the insurance provider’s stock worth $788,086,000 after buying an additional 58,862 shares in the last quarter. Principal Financial Group Inc. raised its holdings in Arch Capital Group by 11.4% during the first quarter. Principal Financial Group Inc. now owns 6,800,236 shares of the insurance provider’s stock worth $628,614,000 after buying an additional 693,608 shares during the last quarter. Davis Asset Management L.P. lifted its stake in shares of Arch Capital Group by 441.7% in 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 buying an additional 5,300,000 shares in the last quarter. Allspring Global Investments Holdings LLC grew its holdings in shares of Arch Capital Group by 1.7% during the first quarter. Allspring Global Investments Holdings LLC now owns 5,907,122 shares of the insurance provider’s stock valued at $546,054,000 after buying an additional 99,329 shares during the last quarter. Finally, Northern Trust Corp increased its position in shares of Arch Capital Group by 9.2% during the third quarter. Northern Trust Corp now owns 4,652,983 shares of the insurance provider’s stock worth $370,889,000 after acquiring an additional 390,362 shares in the last quarter. 89.07% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on ACGL shares. JMP Securities increased their price objective on shares of Arch Capital Group from $100.00 to $110.00 and gave the stock a “market outperform” rating in a research note on Tuesday, April 30th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $98.00 target price on shares of Arch Capital Group in a report on Friday, February 16th. Citigroup decreased their price objective on Arch Capital Group from $91.00 to $89.00 and set a “neutral” rating on the stock in a report on Monday, January 22nd. StockNews.com cut shares of Arch Capital Group from a “buy” rating to a “hold” rating in a report on Thursday. Finally, UBS Group decreased their price target on Arch Capital Group from $101.00 to $97.00 and set a “buy” rating on the stock in a research report on Wednesday, January 10th. Five investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $100.67.

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.