Insider Selling: Arch Capital Group (NASDAQ:ACGL) CFO Sells 8,000 Shares of Stock

Arch Capital Group Ltd. (NASDAQ:ACGL) CFO Francois Morin sold 8,000 shares of the firm’s stock in a transaction that occurred on Friday, November 28th. The shares were sold at an average price of $94.62, for a total value of $756,960.00. Following the completion of the transaction, the chief financial officer directly owned 266,681 shares of the company’s stock, valued at $25,233,356.22. The trade was a 2.91% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Arch Capital Group Price Performance

ACGL traded down $0.47 during trading on Tuesday, reaching $92.69. 2,262,723 shares of the stock were exchanged, compared to its average volume of 1,987,064. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.55 and a quick ratio of 0.56. The company has a market capitalization of $33.61 billion, a price-to-earnings ratio of 8.67, a P/E/G ratio of 3.24 and a beta of 0.47. Arch Capital Group Ltd. has a 1 year low of $82.44 and a 1 year high of $100.48. The business’s 50 day moving average price is $90.01 and its two-hundred day moving average price is $90.39.

Arch Capital Group (NASDAQ:ACGL) last announced its quarterly earnings results on Monday, October 27th. The insurance provider reported $2.77 earnings per share for the quarter, beating analysts’ consensus estimates of $1.76 by $1.01. The business had revenue of $5.11 billion during the quarter, compared to analysts’ expectations of $4.39 billion. Arch Capital Group had a return on equity of 16.38% and a net margin of 20.96%.During the same quarter last year, the business posted $1.99 earnings per share. As a group, equities research analysts anticipate that Arch Capital Group Ltd. will post 8.42 earnings per share for the current year.

Institutional Investors Weigh In On Arch Capital Group

A number of hedge funds and other institutional investors have recently made changes to their positions in ACGL. Harbour Investments Inc. lifted its position in Arch Capital Group by 8.4% during the first quarter. Harbour Investments Inc. now owns 1,431 shares of the insurance provider’s stock worth $138,000 after buying an additional 111 shares during the period. TD Waterhouse Canada Inc. increased its stake in shares of Arch Capital Group by 31.4% during the 2nd quarter. TD Waterhouse Canada Inc. now owns 469 shares of the insurance provider’s stock valued at $43,000 after acquiring an additional 112 shares during the last quarter. Crescent Grove Advisors LLC lifted its holdings in shares of Arch Capital Group by 3.1% during the 2nd quarter. Crescent Grove Advisors LLC now owns 3,702 shares of the insurance provider’s stock worth $337,000 after acquiring an additional 112 shares during the period. TIAA Trust National Association boosted its position in shares of Arch Capital Group by 3.1% in the second quarter. TIAA Trust National Association now owns 3,892 shares of the insurance provider’s stock worth $354,000 after acquiring an additional 116 shares during the last quarter. Finally, Hemington Wealth Management boosted its position in shares of Arch Capital Group by 27.7% in the first quarter. Hemington Wealth Management now owns 548 shares of the insurance provider’s stock worth $52,000 after acquiring an additional 119 shares during the last quarter. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on ACGL. Weiss Ratings restated a “hold (c+)” rating on shares of Arch Capital Group in a research report on Wednesday, October 8th. Wolfe Research initiated coverage on shares of Arch Capital Group in a research note on Monday, September 15th. They set a “peer perform” rating for the company. Cowen restated a “buy” rating on shares of Arch Capital Group in a research report on Monday, August 4th. Wells Fargo & Company lowered their target price on Arch Capital Group from $111.00 to $106.00 and set an “overweight” rating on the stock in a report on Wednesday, October 29th. Finally, Roth Capital set a $110.00 price target on Arch Capital Group and gave the stock a “buy” rating in a research report on Tuesday. Eight research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Arch Capital Group presently has a consensus rating of “Hold” and an average target price of $106.85.

Arch Capital Group Company Profile

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.