Arch Capital Group (NASDAQ:ACGL) Hits New 12-Month High – What’s Next?

Arch Capital Group Ltd. (NASDAQ:ACGL)’s share price hit a new 52-week high on Tuesday . The stock traded as high as $97.85 and last traded at $97.0450, with a volume of 232500 shares traded. The stock had previously closed at $96.71.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on ACGL shares. JPMorgan Chase & Co. raised their target price on shares of Arch Capital Group from $111.00 to $117.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 7th. Barclays set a $104.00 target price on Arch Capital Group and gave the stock an “equal weight” rating in a research report on Thursday, January 8th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $97.00 price target (up previously from $93.00) on shares of Arch Capital Group in a research report on Wednesday, January 14th. Wells Fargo & Company reduced their target price on shares of Arch Capital Group from $111.00 to $106.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 29th. Finally, The Goldman Sachs Group reiterated a “sell” rating and issued a $93.00 price target (up from $84.00) on shares of Arch Capital Group in a report on Wednesday, January 7th. Eight analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $107.53.

Arch Capital Group Price Performance

The stock’s fifty day simple moving average is $94.05 and its 200 day simple moving average is $91.24. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.55 and a quick ratio of 0.55. The firm has a market capitalization of $35.27 billion, a P/E ratio of 9.10, a P/E/G ratio of 2.02 and a beta of 0.45.

Insider Activity

In related news, insider John M. Pasquesi sold 203,866 shares of Arch Capital Group stock in a transaction that occurred on Friday, December 12th. The shares were sold at an average price of $93.90, for a total value of $19,143,017.40. Following the completion of the sale, the insider directly owned 351,356 shares in the company, valued at $32,992,328.40. This trade represents a 36.72% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Francois Morin sold 8,000 shares of the firm’s stock in a transaction on Friday, November 28th. The stock was sold at an average price of $94.62, for a total transaction of $756,960.00. Following the completion of the transaction, the chief financial officer directly owned 266,681 shares of the company’s stock, valued at approximately $25,233,356.22. This represents a 2.91% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 220,666 shares of company stock worth $20,728,673. Corporate insiders own 4.20% of the company’s stock.

Institutional Trading of Arch Capital Group

Several institutional investors and hedge funds have recently bought and sold shares of ACGL. Mainstay Capital Management LLC ADV acquired a new stake in shares of Arch Capital Group in the second quarter valued at about $363,000. Cooke & Bieler LP acquired a new stake in Arch Capital Group in the 3rd quarter valued at about $210,856,000. Thrivent Financial for Lutherans lifted its stake in Arch Capital Group by 1.0% in the 3rd quarter. Thrivent Financial for Lutherans now owns 1,639,158 shares of the insurance provider’s stock worth $148,720,000 after purchasing an additional 16,798 shares in the last quarter. Citizens Financial Group Inc. RI grew its position in shares of Arch Capital Group by 632.6% in the third quarter. Citizens Financial Group Inc. RI now owns 17,362 shares of the insurance provider’s stock valued at $1,575,000 after purchasing an additional 14,992 shares in the last quarter. Finally, Osaic Holdings Inc. increased its holdings in shares of Arch Capital Group by 550.1% in the second quarter. Osaic Holdings Inc. now owns 109,984 shares of the insurance provider’s stock valued at $10,513,000 after purchasing an additional 93,067 shares during the last quarter. 89.07% of the stock is currently owned by institutional investors and hedge funds.

About Arch Capital Group

Arch Capital Group Ltd. (NASDAQ: ACGL) is a Bermuda-based insurance and reinsurance holding company that underwrites a broad range of property and casualty, mortgage, and specialty risk products. The company operates through a group of underwriting subsidiaries and platforms to provide insurance, reinsurance and related risk solutions tailored to commercial, institutional and individual clients.

Arch’s product mix includes treaty and facultative reinsurance, primary casualty and property insurance, mortgage insurance and other specialty lines.