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

Arch Capital Group Ltd. (NASDAQ:ACGL) was the recipient of a significant growth in short interest during 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 days-to-cover ratio is currently 3.9 days. Currently, 1.5% of the company’s shares are short sold.

Insider Buying and Selling at Arch Capital Group

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

Institutional Investors Weigh In On Arch Capital Group

Several institutional investors have recently modified their holdings of ACGL. International Assets Investment Management LLC purchased a new stake in shares of Arch Capital Group during the fourth quarter valued at $398,000. Avantax Advisory Services Inc. boosted its position in Arch Capital Group by 13.1% in the fourth quarter. Avantax Advisory Services Inc. now owns 7,489 shares of the insurance provider’s stock worth $556,000 after purchasing an additional 867 shares during the last quarter. Janney Montgomery Scott LLC boosted its position in Arch Capital Group by 19.0% in the fourth quarter. Janney Montgomery Scott LLC now owns 89,148 shares of the insurance provider’s stock worth $6,621,000 after purchasing an additional 14,233 shares during the last quarter. Quadrant Capital Group LLC boosted its position in Arch Capital Group by 13.7% in the fourth quarter. Quadrant Capital Group LLC now owns 2,072 shares of the insurance provider’s stock worth $154,000 after purchasing an additional 249 shares during the last quarter. Finally, Panagora Asset Management Inc. boosted its position in Arch Capital Group by 32.0% in the fourth quarter. Panagora Asset Management Inc. now owns 23,578 shares of the insurance provider’s stock worth $1,751,000 after purchasing an additional 5,722 shares during the last quarter. 89.07% of the stock is owned by hedge funds and other institutional investors.

Arch Capital Group Trading Down 0.2 %

NASDAQ ACGL opened at $113.96 on Wednesday. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 0.16. Arch Capital Group has a 12 month low of $72.85 and a 12 month high of $114.69. The stock has a market cap of $42.86 billion, a P/E ratio of 8.99, a P/E/G ratio of 2.00 and a beta of 0.60. The stock’s fifty day moving average price is $102.90 and its 200-day moving average price is $98.33.

Arch Capital Group (NASDAQ:ACGL) last released its quarterly earnings data on Tuesday, July 30th. The insurance provider reported $2.57 EPS for the quarter, beating 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 for the quarter, compared to analysts’ expectations of $3.89 billion. During the same period last year, the firm posted $1.92 earnings per share. Arch Capital Group’s revenue was up 10.3% compared to the same quarter last year. As a group, equities analysts forecast that Arch Capital Group will post 9.01 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts recently commented on ACGL shares. Royal Bank of Canada upped their target price on Arch Capital Group from $108.00 to $112.00 and gave the company an “outperform” rating in a report on Thursday, August 1st. Bank of America decreased their target price on Arch Capital Group from $119.00 to $118.00 and set a “buy” rating for the company in a report on Thursday, July 11th. Evercore ISI increased their price objective on Arch Capital Group from $100.00 to $104.00 and gave the stock an “in-line” rating in a report on Wednesday, July 31st. Roth Mkm increased their price objective on Arch Capital Group from $110.00 to $125.00 and gave the stock a “buy” rating in a report on Friday, August 23rd. Finally, Wells Fargo & Company decreased their price objective on Arch Capital Group from $111.00 to $110.00 and set an “overweight” rating for the company in a report on Monday, August 12th. Five research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $110.93.

About Arch Capital Group

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.