Arch Capital Group Ltd. (ACGL) Director Brian S. Posner Buys 6,000 Shares of Stock
Arch Capital Group Ltd. (NASDAQ:ACGL) Director Brian S. Posner bought 6,000 shares of the firm’s stock in a transaction on Friday, November 18th. The stock was acquired at an average cost of $21.88 per share, with a total value of $131,280.00. Following the completion of the transaction, the director now directly owns 6,000 shares of the company’s stock, valued at $131,280. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink.
Arch Capital Group Ltd. (NASDAQ:ACGL) traded up 0.093% during midday trading on Tuesday, hitting $80.965. 24,273 shares of the stock traded hands. The stock has a market capitalization of $9.79 billion, a PE ratio of 15.393 and a beta of 0.52. Arch Capital Group Ltd. has a 12-month low of $59.83 and a 12-month high of $85.16. The firm’s 50 day moving average is $78.85 and its 200-day moving average is $75.48.
Arch Capital Group (NASDAQ:ACGL) last announced its earnings results on Wednesday, October 26th. The company reported $1.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.03 by $0.11. The business had revenue of $1.01 billion for the quarter, compared to analysts’ expectations of $980.36 million. Arch Capital Group had a return on equity of 8.32% and a net margin of 15.47%. The business’s revenue for the quarter was up 4.4% on a year-over-year basis. During the same quarter last year, the firm earned $1.01 EPS. On average, analysts anticipate that Arch Capital Group Ltd. will post $4.41 EPS for the current fiscal year.
A number of analysts have recently weighed in on the stock. Zacks Investment Research upgraded shares of Arch Capital Group from a “hold” rating to a “buy” rating and set a $90.00 price objective for the company in a research note on Monday, October 17th. Barclays PLC restated a “hold” rating and issued a $85.00 price objective on shares of Arch Capital Group in a research note on Tuesday, September 27th. Goldman Sachs Group Inc. upgraded shares of Arch Capital Group from a “sell” rating to a “neutral” rating and boosted their price objective for the stock from $66.00 to $79.00 in a research note on Wednesday, September 7th. MKM Partners upped their target price on shares of Arch Capital Group from $85.00 to $95.00 and gave the company a “buy” rating in a research note on Tuesday, August 30th. Finally, Keefe, Bruyette & Woods upped their target price on shares of Arch Capital Group from $78.00 to $86.00 and gave the company a “market perform” rating in a research note on Wednesday, August 17th. Eight equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $83.30.
A number of hedge funds have recently made changes to their positions in ACGL. Emerald Acquisition Ltd. bought a new stake in shares of Arch Capital Group during the second quarter valued at about $50,798,000. Principal Financial Group Inc. boosted its stake in shares of Arch Capital Group by 46.8% in the third quarter. Principal Financial Group Inc. now owns 1,715,871 shares of the company’s stock valued at $136,000,000 after buying an additional 546,913 shares during the period. BlackRock Fund Advisors boosted its stake in shares of Arch Capital Group by 9.9% in the second quarter. BlackRock Fund Advisors now owns 3,108,794 shares of the company’s stock valued at $223,833,000 after buying an additional 281,260 shares during the period. FMR LLC boosted its stake in shares of Arch Capital Group by 16.3% in the second quarter. FMR LLC now owns 1,809,581 shares of the company’s stock valued at $130,290,000 after buying an additional 252,979 shares during the period. Finally, Vanguard Group Inc. boosted its stake in shares of Arch Capital Group by 2.5% in the second quarter. Vanguard Group Inc. now owns 8,579,022 shares of the company’s stock valued at $617,689,000 after buying an additional 212,635 shares during the period. 77.44% of the stock is currently owned by institutional investors and hedge funds.
About Arch Capital Group
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.
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