Arch Capital Group Ltd. (NASDAQ:ACGL) was the recipient of a significant decrease in short interest in the month of August. As of August 31st, there was short interest totalling 2,810,000 shares, a decrease of 16.6% from the August 15th total of 3,370,000 shares. Based on an average daily trading volume, of 1,680,000 shares, the days-to-cover ratio is currently 1.7 days. Currently, 0.7% of the company’s shares are short sold.
Several equities analysts have weighed in on the company. Royal Bank of Canada increased their target price on Arch Capital Group from $37.00 to $39.00 and gave the company an “outperform” rating in a research note on Thursday, June 11th. Bank of America assumed coverage on Arch Capital Group in a research note on Friday, May 22nd. They issued a “buy” rating and a $39.00 target price on the stock. Zacks Investment Research raised Arch Capital Group from a “strong sell” rating to a “hold” rating and set a $25.00 target price on the stock in a research note on Wednesday, May 27th. ValuEngine lowered Arch Capital Group from a “hold” rating to a “sell” rating in a research report on Monday, August 3rd. Finally, BidaskClub lowered Arch Capital Group from a “hold” rating to a “sell” rating in a research report on Saturday, August 22nd. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and eight have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $39.73.
NASDAQ:ACGL opened at $30.61 on Thursday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.61 and a current ratio of 0.61. The company has a market cap of $12.43 billion, a PE ratio of 11.30, a PEG ratio of 3.14 and a beta of 0.75. Arch Capital Group has a 52-week low of $20.93 and a 52-week high of $48.32. The stock has a 50-day simple moving average of $31.56 and a 200 day simple moving average of $29.82.
Arch Capital Group (NASDAQ:ACGL) last posted its quarterly earnings results on Wednesday, July 29th. The insurance provider reported $0.04 earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.26) by $0.30. The firm had revenue of $1.67 billion during the quarter, compared to the consensus estimate of $1.49 billion. Arch Capital Group had a return on equity of 6.97% and a net margin of 15.88%. The business’s revenue was up 15.5% compared to the same quarter last year. During the same period last year, the company earned $0.77 earnings per share. On average, research analysts predict that Arch Capital Group will post 0.99 earnings per share for the current fiscal year.
Several hedge funds and other institutional investors have recently modified their holdings of ACGL. CSat Investment Advisory L.P. lifted its holdings in Arch Capital Group by 34.4% during the 2nd quarter. CSat Investment Advisory L.P. now owns 1,434 shares of the insurance provider’s stock worth $41,000 after purchasing an additional 367 shares during the last quarter. CWM Advisors LLC acquired a new position in shares of Arch Capital Group in the 1st quarter valued at about $44,000. AIA Investment Management Private Ltd acquired a new position in shares of Arch Capital Group in the 1st quarter valued at about $53,000. Meeder Asset Management Inc. raised its stake in Arch Capital Group by 1,534.1% during the 1st quarter. Meeder Asset Management Inc. now owns 2,010 shares of the insurance provider’s stock worth $58,000 after buying an additional 1,887 shares during the period. Finally, AGF Investments Inc. acquired a new position in Arch Capital Group during the 1st quarter worth approximately $195,000. Institutional investors own 78.25% of the company’s stock.
Arch Capital Group Company Profile
Arch Capital Group Ltd., together with its subsidiaries, provides property, casualty, and mortgage insurance and reinsurance 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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