Short Interest in Arch Capital Group Ltd. (NASDAQ:ACGL) Drops By 5.7%

Arch Capital Group Ltd. (NASDAQ:ACGL) saw a large drop in short interest in September. As of September 30th, there was short interest totalling 5,140,000 shares, a drop of 5.7% from the September 15th total of 5,450,000 shares. Based on an average trading volume of 1,400,000 shares, the days-to-cover ratio is currently 3.7 days. Approximately 1.4% of the shares of the stock are short sold.

Analysts Set New Price Targets

Several brokerages recently weighed in on ACGL. Jefferies Financial Group boosted their price objective on shares of Arch Capital Group from $114.00 to $134.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Royal Bank of Canada increased their price target on Arch Capital Group from $108.00 to $112.00 and gave the company an “outperform” rating in a research note on Thursday, August 1st. Barclays started coverage on Arch Capital Group in a report on Wednesday, September 4th. They issued an “equal weight” rating and a $120.00 target price on the stock. TD Cowen increased their target price on shares of Arch Capital Group from $116.00 to $138.00 and gave the company a “buy” rating in a research report on Friday, September 20th. Finally, JMP Securities boosted their price target on shares of Arch Capital Group from $115.00 to $125.00 and gave the stock a “market outperform” rating in a research report on Tuesday. Five equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $119.53.

Arch Capital Group Stock Performance

Shares of Arch Capital Group stock opened at $108.06 on Wednesday. The business has a 50-day simple moving average of $109.44 and a 200 day simple moving average of $101.62. Arch Capital Group has a one year low of $72.85 and a one year high of $116.47. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.60 and a quick ratio of 0.60. The firm has a market capitalization of $40.58 billion, a price-to-earnings ratio of 8.53, a PEG ratio of 2.03 and a beta of 0.59.

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 firm had revenue of $3.78 billion during the quarter, compared to the consensus estimate of $3.89 billion. During the same quarter in the previous year, the company posted $1.92 earnings per share. The company’s quarterly revenue was up 10.3% on a year-over-year basis. On average, research analysts anticipate that Arch Capital Group will post 9.11 earnings per share for the current fiscal year.

Insider Activity at Arch Capital Group

In other news, CFO Francois Morin sold 11,460 shares of the business’s stock in a transaction dated 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 trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 4.20% of the stock is currently owned by company insiders.

Institutional Trading of Arch Capital Group

A number of hedge funds and other institutional investors have recently bought and sold shares of ACGL. Fiduciary Financial Group LLC lifted its stake in shares of Arch Capital Group by 2.8% in the third quarter. Fiduciary Financial Group LLC now owns 3,779 shares of the insurance provider’s stock valued at $415,000 after buying an additional 103 shares in the last quarter. Baldwin Brothers LLC MA lifted its position in Arch Capital Group by 50.7% in the 2nd quarter. Baldwin Brothers LLC MA now owns 309 shares of the insurance provider’s stock valued at $31,000 after acquiring an additional 104 shares in the last quarter. Fidelis Capital Partners LLC increased its holdings in Arch Capital Group by 3.1% during the 2nd quarter. Fidelis Capital Partners LLC now owns 3,553 shares of the insurance provider’s stock worth $344,000 after purchasing an additional 106 shares in the last quarter. Sunbelt Securities Inc. increased its holdings in Arch Capital Group by 1.8% during the 1st quarter. Sunbelt Securities Inc. now owns 6,679 shares of the insurance provider’s stock worth $617,000 after purchasing an additional 117 shares in the last quarter. Finally, Resonant Capital Advisors LLC raised its stake in shares of Arch Capital Group by 2.1% in the first quarter. Resonant Capital Advisors LLC now owns 5,802 shares of the insurance provider’s stock worth $536,000 after purchasing an additional 118 shares during the last quarter. Institutional investors own 89.07% of the company’s stock.

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.