BidaskClub upgraded shares of Arch Capital Group (NASDAQ:ACGL) from a strong sell rating to a sell rating in a research report sent to investors on Tuesday.
A number of other equities analysts have also recently commented on the company. Wells Fargo & Co set a $100.00 target price on Arch Capital Group and gave the company a hold rating in a report on Sunday, December 10th. Zacks Investment Research upgraded Arch Capital Group from a sell rating to a hold rating in a research note on Thursday, October 12th. Royal Bank of Canada reiterated a buy rating and issued a $113.00 price objective on shares of Arch Capital Group in a research note on Friday, October 27th. Keefe, Bruyette & Woods reiterated a hold rating and issued a $101.00 price objective on shares of Arch Capital Group in a research note on Wednesday, December 6th. Finally, UBS Group reiterated a buy rating on shares of Arch Capital Group in a research note on Monday, October 30th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the company. The company has a consensus rating of Hold and a consensus price target of $100.40.
Shares of Arch Capital Group (ACGL) traded up $0.69 during trading on Tuesday, reaching $91.38. The company had a trading volume of 652,500 shares, compared to its average volume of 575,890. Arch Capital Group has a 12 month low of $86.46 and a 12 month high of $102.60. The stock has a market cap of $11,868.96, a PE ratio of 29.48, a price-to-earnings-growth ratio of 1.33 and a beta of 0.67. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.49.
In related news, CEO Nicolas Papadopoulo sold 54,554 shares of the business’s stock in a transaction that occurred on Tuesday, November 7th. The stock was sold at an average price of $95.53, for a total transaction of $5,211,543.62. Following the completion of the sale, the chief executive officer now owns 147,481 shares in the company, valued at $14,088,859.93. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Louis T. Petrillo sold 5,921 shares of the business’s stock in a transaction that occurred on Wednesday, December 13th. The stock was sold at an average price of $91.07, for a total value of $539,225.47. Following the sale, the insider now owns 43,268 shares of the company’s stock, valued at approximately $3,940,416.76. The disclosure for this sale can be found here. Insiders sold a total of 65,975 shares of company stock valued at $6,256,989 in the last quarter. Company insiders own 6.60% of the company’s stock.
Hedge funds have recently bought and sold shares of the stock. Acrospire Investment Management LLC purchased a new stake in Arch Capital Group during the second quarter worth approximately $112,000. Toronto Dominion Bank lifted its stake in Arch Capital Group by 18.8% during the second quarter. Toronto Dominion Bank now owns 1,596 shares of the insurance provider’s stock worth $149,000 after purchasing an additional 253 shares during the last quarter. CIBC World Markets Inc. purchased a new stake in Arch Capital Group during the second quarter worth approximately $208,000. Dynamic Technology Lab Private Ltd purchased a new stake in Arch Capital Group during the second quarter worth approximately $229,000. Finally, Dai Ichi Life Insurance Company Ltd purchased a new stake in Arch Capital Group during the third quarter worth approximately $242,000. Hedge funds and other institutional investors own 79.43% of the company’s stock.
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About Arch Capital Group
Arch Capital Group Ltd. provides insurance, reinsurance and mortgage insurance. The Company provides a range of property, casualty and mortgage insurance and reinsurance lines. The Company operates in five segments: insurance, reinsurance, mortgage, other and corporate. The insurance segment’s product lines include construction and national accounts; excess and surplus casualty; lenders products; professional lines; programs; property, energy, marine and aviation; travel, accident and health, and other.
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