BidaskClub upgraded shares of Arch Capital Group (NASDAQ:ACGL) from a strong sell rating to a sell rating in a research note published on Friday morning.
ACGL has been the topic of several other research reports. Wells Fargo set a $96.00 price objective on Arch Capital Group and gave the company a hold rating in a research note on Wednesday, March 14th. Keefe, Bruyette & Woods upgraded Arch Capital Group from a market perform rating to an outperform rating in a research note on Thursday. Finally, ValuEngine lowered Arch Capital Group from a hold rating to a sell rating in a research note on Thursday, March 1st. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the stock. The company currently has an average rating of Hold and an average target price of $100.50.
Arch Capital Group (ACGL) traded down $0.95 during trading hours on Friday, reaching $83.41. The company’s stock had a trading volume of 929,304 shares, compared to its average volume of 898,548. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 0.40. The company has a market capitalization of $11,531.20, a price-to-earnings ratio of 20.54, a price-to-earnings-growth ratio of 1.24 and a beta of 0.63. Arch Capital Group has a 12-month low of $83.35 and a 12-month high of $102.60.
In other Arch Capital Group news, CFO Mark Donald Lyons sold 6,000 shares of the firm’s stock in a transaction on Thursday, March 15th. The stock was sold at an average price of $84.16, for a total transaction of $504,960.00. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Constantine Iordanou acquired 7,000 shares of the stock in a transaction on Thursday, February 15th. The shares were bought at an average price of $23.80 per share, for a total transaction of $166,600.00. Following the purchase, the chief executive officer now owns 7,000 shares in the company, valued at $166,600. The disclosure for this purchase can be found here. 6.60% of the stock is currently owned by company insiders.
Institutional investors have recently bought and sold shares of the business. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its holdings in shares of Arch Capital Group by 7.4% in the 4th quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 66,919 shares of the insurance provider’s stock valued at $6,074,000 after purchasing an additional 4,630 shares in the last quarter. OLD Mutual Customised Solutions Proprietary Ltd. boosted its holdings in shares of Arch Capital Group by 80.0% in the 4th quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 5,400 shares of the insurance provider’s stock valued at $490,000 after purchasing an additional 2,400 shares in the last quarter. Sterling Capital Management LLC acquired a new stake in shares of Arch Capital Group in the 4th quarter valued at $1,288,000. BB&T Securities LLC acquired a new stake in shares of Arch Capital Group in the 4th quarter valued at $488,000. Finally, Millennium Management LLC acquired a new stake in shares of Arch Capital Group in the 4th quarter valued at $2,823,000. Hedge funds and other institutional investors own 81.35% of the company’s stock.
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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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