Arch Capital Group Ltd. (ACGL) Sees Large Volume Increase
Arch Capital Group Ltd. (NASDAQ:ACGL) shares saw unusually-high trading volume on Monday . Approximately 427,372 shares traded hands during trading, an increase of 25% from the previous session’s volume of 342,637 shares.The stock last traded at $75.18 and had previously closed at $74.79.
ACGL has been the subject of several research analyst reports. Keefe, Bruyette & Woods boosted their target price on Arch Capital Group from $76.00 to $78.00 and gave the stock a “market perform” rating in a research note on Friday, August 5th. Wells Fargo & Co. reissued a “hold” rating on shares of Arch Capital Group in a research note on Wednesday, June 15th. Zacks Investment Research downgraded Arch Capital Group from a “buy” rating to a “hold” rating in a research note on Wednesday, May 4th. BMO Capital Markets reissued a “market perform” rating and set a $75.00 target price (down previously from $76.00) on shares of Arch Capital Group in a research note on Tuesday, May 10th. Finally, Deutsche Bank AG boosted their target price on Arch Capital Group from $72.00 to $74.00 and gave the stock a “hold” rating in a research note on Friday, July 29th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $75.67.
The company has a market cap of $9.30 billion and a price-to-earnings ratio of 19.93. The company’s 50 day moving average is $71.63 and its 200 day moving average is $70.46.
Arch Capital Group (NASDAQ:ACGL) last announced its quarterly earnings results on Wednesday, July 27th. The company reported $1.13 EPS for the quarter, beating analysts’ consensus estimates of $0.96 by $0.17. During the same period in the prior year, the business earned $1.16 EPS. On average, equities analysts predict that Arch Capital Group Ltd. will post $4.31 EPS for the current fiscal year.
In other Arch Capital Group news, CEO Constantine Iordanou sold 40,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 24th. The stock was sold at an average price of $71.58, for a total transaction of $2,863,200.00. Following the sale, the chief executive officer now directly owns 293,030 shares in the company, valued at $20,975,087.40. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Mark Donald Lyons sold 3,000 shares of the company’s stock in a transaction that occurred on Thursday, June 2nd. The shares were sold at an average price of $72.55, for a total value of $217,650.00. Following the sale, the chief financial officer now owns 198,830 shares in the company, valued at $14,425,116.50. The disclosure for this sale can be found here.
Other large investors recently modified their holdings of the company. Mitsubishi UFJ Kokusai Asset Management CO. LTD. increased its stake in shares of Arch Capital Group by 6.0% in the fourth quarter. Mitsubishi UFJ Kokusai Asset Management CO. LTD. now owns 15,358 shares of the company’s stock worth $1,071,000 after buying an additional 875 shares during the period. KBC Group NV increased its stake in shares of Arch Capital Group by 166.9% in the fourth quarter. KBC Group NV now owns 155,666 shares of the company’s stock valued at $10,858,000 after buying an additional 97,337 shares during the last quarter. Utah Retirement Systems increased its stake in shares of Arch Capital Group by 0.5% in the fourth quarter. Utah Retirement Systems now owns 22,254 shares of the company’s stock valued at $1,552,000 after buying an additional 100 shares during the last quarter. Finally, BlackRock Advisors LLC increased its stake in shares of Arch Capital Group by 11.0% in the fourth quarter. BlackRock Advisors LLC now owns 193,868 shares of the company’s stock valued at $13,522,000 after buying an additional 19,257 shares during the last quarter.
Arch Capital Group Ltd. writes insurance and reinsurance on worldwide basis. The Company operates in five segments: insurance, reinsurance, mortgage, other and corporate. The Company’s insurance, reinsurance and mortgage segments are underwriting segments. 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, which includes alternative market risks and excess workers’ compensation.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.