Short Interest in Arch Capital Group Ltd. (NASDAQ:ACGL) Declines By 14.7%

Arch Capital Group Ltd. (NASDAQ:ACGL) was the target of a significant drop in short interest in the month of November. As of November 30th, there was short interest totalling 5,040,000 shares, a drop of 14.7% from the November 15th total of 5,910,000 shares. Approximately 1.4% of the company’s shares are sold short. Based on an average trading volume of 1,840,000 shares, the days-to-cover ratio is presently 2.7 days.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on ACGL. JPMorgan Chase & Co. boosted their price target on Arch Capital Group from $108.00 to $110.00 and gave the company a “neutral” rating in a report on Thursday, October 10th. Royal Bank of Canada lowered their target price on Arch Capital Group from $128.00 to $125.00 and set an “outperform” rating for the company in a report on Friday, November 1st. TD Cowen raised their price target on Arch Capital Group from $116.00 to $138.00 and gave the company a “buy” rating in a research note on Friday, September 20th. Roth Mkm upped their price objective on shares of Arch Capital Group from $110.00 to $125.00 and gave the stock a “buy” rating in a research note on Friday, August 23rd. Finally, Evercore ISI raised their target price on shares of Arch Capital Group from $104.00 to $107.00 and gave the company an “in-line” rating in a research report on Wednesday, October 9th. Six research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $118.38.

Arch Capital Group Stock Performance

Shares of ACGL opened at $93.42 on Monday. Arch Capital Group has a 12 month low of $72.85 and a 12 month high of $116.47. The stock has a fifty day moving average price of $102.03 and a 200-day moving average price of $103.08. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 0.17. The firm has a market cap of $35.15 billion, a PE ratio of 6.27, a P/E/G ratio of 1.49 and a beta of 0.62.

Arch Capital Group (NASDAQ:ACGL) last issued its quarterly earnings results on Wednesday, October 30th. The insurance provider reported $1.99 earnings per share for the quarter, topping the consensus estimate of $1.94 by $0.05. Arch Capital Group had a return on equity of 18.94% and a net margin of 33.86%. The business had revenue of $4.72 billion during the quarter, compared to the consensus estimate of $4.05 billion. During the same quarter last year, the company earned $2.31 earnings per share. Equities research analysts predict that Arch Capital Group will post 8.99 earnings per share for the current fiscal year.

Arch Capital Group Dividend Announcement

The business also recently declared a special dividend, which was paid on Wednesday, December 4th. Shareholders of record on Monday, November 18th were paid a dividend of $5.00 per share. The ex-dividend date of this dividend was Monday, November 18th.

Institutional Investors Weigh In On Arch Capital Group

Several institutional investors and hedge funds have recently made changes to their positions in ACGL. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Arch Capital Group by 245.1% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,053,739 shares of the insurance provider’s stock worth $341,652,000 after acquiring an additional 2,168,897 shares during the last quarter. Erste Asset Management GmbH purchased a new position in shares of Arch Capital Group in the third quarter worth about $82,748,000. National Pension Service purchased a new position in shares of Arch Capital Group in the third quarter worth about $64,271,000. International Assets Investment Management LLC boosted its position in Arch Capital Group by 18,634.1% in the third quarter. International Assets Investment Management LLC now owns 551,345 shares of the insurance provider’s stock valued at $616,840,000 after buying an additional 548,402 shares during the last quarter. Finally, Brandes Investment Partners LP acquired a new position in Arch Capital Group in the 2nd quarter worth approximately $48,119,000. 89.07% of the stock is currently owned by institutional investors and hedge funds.

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.