Arch Capital Group Ltd. (NASDAQ:ACGL) was the recipient of a large decline in short interest in October. As of October 30th, there was short interest totalling 2,890,000 shares, a decline of 14.5% from the October 15th total of 3,380,000 shares. Approximately 0.7% of the company’s stock are sold short. Based on an average daily trading volume, of 1,550,000 shares, the short-interest ratio is currently 1.9 days.
ACGL has been the topic of a number of research reports. ValuEngine upgraded shares of Arch Capital Group from a “sell” rating to a “hold” rating in a report on Tuesday, November 17th. TheStreet upgraded shares of Arch Capital Group from a “c+” rating to a “b” rating in a report on Friday, October 23rd. Credit Suisse Group boosted their target price on shares of Arch Capital Group from $36.00 to $39.00 and gave the company a “neutral” rating in a report on Thursday. BidaskClub upgraded shares of Arch Capital Group from a “sell” rating to a “hold” rating in a report on Saturday, October 31st. Finally, Wells Fargo & Company boosted their target price on shares of Arch Capital Group from $37.00 to $42.00 and gave the company an “overweight” rating in a report on Thursday. They noted that the move was a valuation call. Six analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $39.45.
ACGL opened at $33.97 on Friday. The stock has a 50-day moving average price of $31.66 and a 200-day moving average price of $30.17. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.58 and a quick ratio of 0.58. The firm has a market cap of $13.79 billion, a PE ratio of 12.18, a P/E/G ratio of 2.86 and a beta of 0.81. Arch Capital Group has a 1 year low of $20.93 and a 1 year high of $48.32.
Arch Capital Group (NASDAQ:ACGL) last posted its quarterly earnings results on Thursday, October 29th. The insurance provider reported $0.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.25 by $0.04. The firm had revenue of $1.87 billion during the quarter, compared to analyst estimates of $1.67 billion. Arch Capital Group had a return on equity of 5.68% and a net margin of 15.08%. Arch Capital Group’s quarterly revenue was up 16.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.63 EPS. As a group, sell-side analysts anticipate that Arch Capital Group will post 1.24 EPS for the current year.
Large investors have recently modified their holdings of the business. Barclays PLC raised its position in Arch Capital Group by 114.1% in the 2nd quarter. Barclays PLC now owns 404,885 shares of the insurance provider’s stock worth $11,600,000 after buying an additional 215,756 shares during the last quarter. CIBC Asset Management Inc raised its position in Arch Capital Group by 4.4% in the 2nd quarter. CIBC Asset Management Inc now owns 40,499 shares of the insurance provider’s stock worth $1,160,000 after buying an additional 1,693 shares during the last quarter. Rafferty Asset Management LLC raised its position in Arch Capital Group by 494.4% in the 2nd quarter. Rafferty Asset Management LLC now owns 81,215 shares of the insurance provider’s stock worth $2,327,000 after buying an additional 67,551 shares during the last quarter. Balyasny Asset Management LLC purchased a new position in Arch Capital Group in the 2nd quarter worth about $22,544,000. Finally, Cambridge Investment Research Advisors Inc. raised its position in Arch Capital Group by 21.7% in the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 18,189 shares of the insurance provider’s stock worth $521,000 after buying an additional 3,238 shares during the last quarter. 75.61% of the stock is owned by institutional investors and hedge funds.
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; collateral protection, debt cancellation, and service contract reimbursement products; 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.
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