Arch Capital Group Ltd. (NASDAQ:ACGL) Short Interest Up 6.5% in August

Arch Capital Group Ltd. (NASDAQ:ACGL) saw a large growth in short interest in the month of August. As of August 31st, there was short interest totalling 5,440,000 shares, a growth of 6.5% from the August 15th total of 5,110,000 shares. Based on an average daily volume of 1,410,000 shares, the short-interest ratio is presently 3.9 days. Approximately 1.5% of the shares of the company are sold short.

Insider Transactions at Arch Capital Group

In other news, CFO Francois Morin sold 11,460 shares of Arch Capital Group stock in a transaction on Friday, August 16th. The stock was sold at an average price of $102.46, for a total transaction of $1,174,191.60. Following the sale, the chief financial officer now directly owns 221,779 shares in the company, valued at approximately $22,723,476.34. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 4.20% of the company’s stock.

Institutional Trading of Arch Capital Group

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Sanctuary Advisors LLC purchased a new stake in Arch Capital Group in the second quarter worth approximately $5,412,000. Cetera Investment Advisers boosted its stake in Arch Capital Group by 18.4% in the second quarter. Cetera Investment Advisers now owns 49,193 shares of the insurance provider’s stock worth $4,963,000 after buying an additional 7,652 shares in the last quarter. Truist Financial Corp boosted its stake in Arch Capital Group by 4.9% in the second quarter. Truist Financial Corp now owns 786,818 shares of the insurance provider’s stock worth $79,382,000 after buying an additional 36,566 shares in the last quarter. Brandes Investment Partners LP purchased a new stake in Arch Capital Group in the second quarter worth approximately $48,119,000. Finally, NewEdge Advisors LLC boosted its stake in Arch Capital Group by 18.8% in the second quarter. NewEdge Advisors LLC now owns 14,914 shares of the insurance provider’s stock worth $1,505,000 after buying an additional 2,361 shares in the last quarter. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Arch Capital Group Stock Down 0.2 %

Shares of NASDAQ ACGL opened at $113.96 on Wednesday. Arch Capital Group has a 12 month low of $72.85 and a 12 month high of $114.69. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 0.16. The firm has a market capitalization of $42.86 billion, a price-to-earnings ratio of 8.99, a PEG ratio of 2.00 and a beta of 0.60. The business has a 50-day moving average of $102.90 and a 200-day moving average of $98.33.

Arch Capital Group (NASDAQ:ACGL) last issued its quarterly earnings data on Tuesday, July 30th. The insurance provider reported $2.57 EPS for the quarter, topping the consensus estimate of $2.21 by $0.36. Arch Capital Group had a return on equity of 21.42% and a net margin of 35.19%. The company had revenue of $3.78 billion during the quarter, compared to analyst estimates of $3.89 billion. During the same quarter in the previous year, the firm earned $1.92 earnings per share. Arch Capital Group’s revenue was up 10.3% on a year-over-year basis. Sell-side analysts expect that Arch Capital Group will post 9.01 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms have recently commented on ACGL. JMP Securities lifted their target price on Arch Capital Group from $110.00 to $115.00 and gave the stock a “market outperform” rating in a research note on Wednesday, July 31st. Keefe, Bruyette & Woods lifted their target price on Arch Capital Group from $120.00 to $121.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 7th. Barclays began coverage on Arch Capital Group in a research note on Wednesday, September 4th. They set an “equal weight” rating and a $120.00 target price on the stock. Roth Mkm boosted their price objective on Arch Capital Group from $110.00 to $125.00 and gave the company a “buy” rating in a research note on Friday, August 23rd. Finally, Wells Fargo & Company lowered their price objective on Arch Capital Group from $111.00 to $110.00 and set an “overweight” rating on the stock in a research note on Monday, August 12th. Five research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $110.93.

Arch Capital Group Company Profile

Arch Capital Group Ltd., together with its subsidiaries, provides insurance, reinsurance, and mortgage insurance products worldwide. The company's Insurance segment offers primary and excess casualty coverages; loss sensitive primary casualty insurance programs; 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.