Several other brokerages have also weighed in on ACGL. Buckingham Research lifted their price objective on Arch Capital Group from $38.00 to $40.00 and gave the stock a “neutral” rating in a report on Thursday. Deutsche Bank upgraded Arch Capital Group from a “hold” rating to a “buy” rating and set a $35.35 target price for the company in a research report on Wednesday, June 26th. MKM Partners raised their target price on Arch Capital Group from $40.00 to $45.00 and gave the stock a “buy” rating in a research report on Tuesday, July 30th. ValuEngine downgraded Arch Capital Group from a “sell” rating to a “strong sell” rating in a research report on Thursday, August 1st. Finally, UBS Group raised their target price on Arch Capital Group from $39.00 to $45.00 and gave the stock a “buy” rating in a research report on Thursday, August 29th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $39.04.
Shares of NASDAQ:ACGL traded down $0.13 during trading on Thursday, hitting $40.44. 1,082,119 shares of the stock were exchanged, compared to its average volume of 1,189,506. Arch Capital Group has a 1-year low of $24.79 and a 1-year high of $41.57. The company has a market capitalization of $16.74 billion, a price-to-earnings ratio of 18.38, a price-to-earnings-growth ratio of 1.47 and a beta of 0.64. The company’s fifty day simple moving average is $39.39 and its 200-day simple moving average is $35.58. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.54 and a current ratio of 0.54.
In other Arch Capital Group news, CEO Marc Grandisson sold 78,300 shares of Arch Capital Group stock in a transaction on Monday, August 19th. The stock was sold at an average price of $40.05, for a total value of $3,135,915.00. Following the completion of the transaction, the chief executive officer now owns 92,309 shares in the company, valued at approximately $3,696,975.45. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Francois Morin sold 8,000 shares of Arch Capital Group stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $39.42, for a total value of $315,360.00. Following the completion of the transaction, the chief financial officer now owns 37,815 shares of the company’s stock, valued at approximately $1,490,667.30. The disclosure for this sale can be found here. Insiders have sold a total of 141,300 shares of company stock valued at $5,619,725 in the last 90 days. 5.20% of the stock is owned by corporate insiders.
Institutional investors and hedge funds have recently modified their holdings of the business. CSat Investment Advisory L.P. bought a new position in Arch Capital Group in the 2nd quarter valued at $26,000. Advisory Services Network LLC bought a new position in Arch Capital Group in the 2nd quarter valued at $71,000. Capital Bank & Trust Co raised its position in Arch Capital Group by 74.4% in the 2nd quarter. Capital Bank & Trust Co now owns 1,915 shares of the insurance provider’s stock valued at $71,000 after purchasing an additional 817 shares during the last quarter. ETF Managers Group LLC raised its position in Arch Capital Group by 9.9% in the 1st quarter. ETF Managers Group LLC now owns 5,017 shares of the insurance provider’s stock valued at $162,000 after purchasing an additional 451 shares during the last quarter. Finally, Beacon Investment Advisory Services Inc. bought a new position in Arch Capital Group in the 2nd quarter valued at $200,000. Hedge funds and other institutional investors own 79.65% of the company’s stock.
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.
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