Insider Selling: Arch Capital Group Ltd. (ACGL) CEO Sells $7,569,097.20 in Stock
Arch Capital Group Ltd. (NASDAQ:ACGL) CEO Nicolas Papadopoulo sold 80,694 shares of Arch Capital Group stock in a transaction on Friday, September 8th. The shares were sold at an average price of $93.80, for a total transaction of $7,569,097.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
Nicolas Papadopoulo also recently made the following trade(s):
- On Tuesday, September 12th, Nicolas Papadopoulo sold 38,918 shares of Arch Capital Group stock. The shares were sold at an average price of $97.23, for a total transaction of $3,783,997.14.
Shares of Arch Capital Group Ltd. (ACGL) opened at 97.99 on Thursday. Arch Capital Group Ltd. has a 12-month low of $76.47 and a 12-month high of $99.47. The company has a market capitalization of $13.18 billion, a P/E ratio of 17.82 and a beta of 0.67. The stock has a 50 day moving average of $96.67 and a 200-day moving average of $95.56.
Arch Capital Group (NASDAQ:ACGL) last posted its quarterly earnings data on Wednesday, July 26th. The insurance provider reported $1.21 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.20 by $0.01. The business had revenue of $1.25 billion for the quarter, compared to the consensus estimate of $1.28 billion. Arch Capital Group had a net margin of 15.65% and a return on equity of 8.76%. The company’s revenue was up 22.0% compared to the same quarter last year. During the same period last year, the firm posted $1.13 earnings per share. Equities research analysts forecast that Arch Capital Group Ltd. will post $5.28 EPS for the current year.
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ACGL has been the topic of a number of research reports. Buckingham Research initiated coverage on shares of Arch Capital Group in a report on Monday. They issued a “buy” rating and a $106.00 price target on the stock. Keefe, Bruyette & Woods set a $100.00 price target on shares of Arch Capital Group and gave the company a “hold” rating in a report on Friday, August 11th. Wells Fargo & Company reiterated a “hold” rating on shares of Arch Capital Group in a report on Wednesday, July 26th. BidaskClub upgraded shares of Arch Capital Group from a “sell” rating to a “hold” rating in a report on Friday, June 30th. Finally, Zacks Investment Research downgraded shares of Arch Capital Group from a “hold” rating to a “sell” rating in a report on Tuesday, June 27th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $95.63.
A number of institutional investors and hedge funds have recently bought and sold shares of ACGL. Proficio Capital Partners LLC lifted its holdings in Arch Capital Group by 75.5% during the first quarter. Proficio Capital Partners LLC now owns 1,095 shares of the insurance provider’s stock valued at $104,000 after purchasing an additional 471 shares in the last quarter. Acrospire Investment Management LLC purchased a new position in Arch Capital Group during the second quarter valued at $112,000. Vantage Investment Advisors LLC lifted its holdings in Arch Capital Group by 1,372.9% during the second quarter. Vantage Investment Advisors LLC now owns 1,252 shares of the insurance provider’s stock valued at $117,000 after purchasing an additional 1,167 shares in the last quarter. Toronto Dominion Bank lifted its holdings in Arch Capital Group by 26.5% during the first quarter. Toronto Dominion Bank now owns 1,343 shares of the insurance provider’s stock valued at $127,000 after purchasing an additional 281 shares in the last quarter. Finally, Parallel Advisors LLC lifted its holdings in Arch Capital Group by 13.1% during the first quarter. Parallel Advisors LLC now owns 1,350 shares of the insurance provider’s stock valued at $130,000 after purchasing an additional 156 shares in the last quarter. 76.92% of the stock is currently owned by institutional investors and hedge funds.
Arch Capital Group Company Profile
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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