Arch Capital Group (NASDAQ:ACGL) Hits New 12-Month High at $97.90

Shares of Arch Capital Group Ltd. (NASDAQ:ACGL) reached a new 52-week high during trading on Tuesday . The stock traded as high as $97.90 and last traded at $97.19, with a volume of 44638 shares trading hands. The stock had previously closed at $97.14.

Wall Street Analysts Forecast Growth

ACGL has been the topic of several recent research reports. Royal Bank of Canada restated an “outperform” rating and issued a $98.00 price target on shares of Arch Capital Group in a research report on Friday, February 16th. JMP Securities boosted their target price on Arch Capital Group from $100.00 to $110.00 and gave the stock a “market outperform” rating in a research report on Tuesday, April 30th. JPMorgan Chase & Co. increased their price target on Arch Capital Group from $88.00 to $92.00 and gave the company a “neutral” rating in a research report on Monday, April 8th. Morgan Stanley boosted their price objective on Arch Capital Group from $104.00 to $109.00 and gave the stock an “overweight” rating in a report on Monday, April 15th. Finally, StockNews.com cut shares of Arch Capital Group from a “buy” rating to a “hold” rating in a report on Thursday. Five research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $100.67.

Arch Capital Group Stock Up 0.7 %

The stock has a market cap of $37.38 billion, a price-to-earnings ratio of 7.81, a P/E/G ratio of 1.12 and a beta of 0.57. The business has a fifty day moving average of $91.78 and a 200 day moving average of $85.05. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.59 and a quick ratio of 0.57.

Arch Capital Group (NASDAQ:ACGL) last released its quarterly earnings results on Monday, April 29th. The insurance provider reported $2.45 earnings per share for the quarter, beating analysts’ consensus estimates of $2.06 by $0.39. The business had revenue of $4.09 billion for the quarter, compared to the consensus estimate of $3.77 billion. Arch Capital Group had a net margin of 33.65% and a return on equity of 21.85%. Arch Capital Group’s revenue for the quarter was up 19.3% on a year-over-year basis. During the same quarter last year, the firm earned $1.73 EPS. On average, equities analysts predict that Arch Capital Group Ltd. will post 8.43 earnings per share for the current year.

Insider Transactions at Arch Capital Group

In related news, insider Nicolas Papadopoulo sold 60,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $87.52, for a total value of $5,251,200.00. Following the transaction, the insider now directly owns 651,931 shares of the company’s stock, valued at approximately $57,057,001.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Arch Capital Group news, CEO David Gansberg sold 10,000 shares of Arch Capital Group stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $96.64, for a total value of $966,400.00. Following the transaction, the chief executive officer now directly owns 228,035 shares of the company’s stock, valued at approximately $22,037,302.40. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Nicolas Papadopoulo sold 60,000 shares of the stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $87.52, for a total value of $5,251,200.00. Following the completion of the sale, the insider now directly owns 651,931 shares of the company’s stock, valued at $57,057,001.12. The disclosure for this sale can be found here. In the last quarter, insiders sold 145,689 shares of company stock worth $12,838,617. 4.00% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Arch Capital Group

A number of institutional investors and hedge funds have recently bought and sold shares of ACGL. Leo Wealth LLC acquired a new stake in Arch Capital Group in the 1st quarter worth $291,000. Blair William & Co. IL grew its position in Arch Capital Group by 6.9% in the first quarter. Blair William & Co. IL now owns 4,414 shares of the insurance provider’s stock valued at $408,000 after acquiring an additional 286 shares during the period. Lord Abbett & CO. LLC increased its position in shares of Arch Capital Group by 2.2% during the 1st quarter. Lord Abbett & CO. LLC now owns 742,438 shares of the insurance provider’s stock worth $68,631,000 after purchasing an additional 16,069 shares in the last quarter. High Ground Investment Management LLP raised its stake in shares of Arch Capital Group by 29.4% in the first quarter. High Ground Investment Management LLP now owns 399,141 shares of the insurance provider’s stock valued at $36,897,000 after acquiring an additional 90,793 shares during the last quarter. Finally, Delta Investment Management LLC acquired a new position in Arch Capital Group in the first quarter worth $246,000. Institutional investors own 89.07% of the company’s stock.

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.