Arch Capital Group (NASDAQ:ACGL) Sees Unusually-High Trading Volume – Here’s What Happened

Shares of Arch Capital Group Ltd. (NASDAQ:ACGL) saw strong trading volume on Thursday . 3,065,816 shares changed hands during mid-day trading, an increase of 46% from the previous session’s volume of 2,100,823 shares.The stock last traded at $99.9650 and had previously closed at $98.21.

Wall Street Analyst Weigh In

ACGL has been the subject of a number of research reports. Weiss Ratings reissued a “buy (b-)” rating on shares of Arch Capital Group in a research note on Thursday, August 13th. Atlantic Securities set a $126.00 price objective on Arch Capital Group in a research note on Wednesday, July 15th. Morgan Stanley upped their price objective on Arch Capital Group from $105.00 to $110.00 and gave the stock an “overweight” rating in a report on Monday, July 6th. Citigroup reiterated a “market outperform” rating on shares of Arch Capital Group in a research report on Wednesday, July 29th. Finally, UBS Group reissued a “buy” rating and issued a $120.00 target price (up from $114.00) on shares of Arch Capital Group in a report on Wednesday, July 8th. Seven equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $111.11.

Arch Capital Group Price Performance

The firm has a market capitalization of $33.47 billion, a P/E ratio of 7.67, a price-to-earnings-growth ratio of 4.92 and a beta of 0.30. The company has a current ratio of 0.57, a quick ratio of 0.57 and a debt-to-equity ratio of 0.23. The firm has a 50 day moving average price of $100.16 and a 200-day moving average price of $96.78.

Arch Capital Group (NASDAQ:ACGL) last released its earnings results on Tuesday, July 28th. The insurance provider reported $2.56 earnings per share for the quarter, beating the consensus estimate of $2.47 by $0.09. Arch Capital Group had a return on equity of 17.06% and a net margin of 24.40%.The firm had revenue of $4.67 billion for the quarter, compared to the consensus estimate of $4.36 billion. During the same quarter in the previous year, the company posted $2.58 EPS. On average, analysts expect that Arch Capital Group Ltd. will post 9.44 earnings per share for the current year.

Insider Buying and Selling

In other Arch Capital Group news, CFO Francois Morin sold 11,010 shares of the business’s stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $99.32, for a total transaction of $1,093,513.20. Following the transaction, the chief financial officer owned 184,826 shares in the company, valued at $18,356,918.32. The trade was a 5.62% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 3.30% of the stock is owned by insiders.

Hedge Funds Weigh In On Arch Capital Group

A number of large investors have recently made changes to their positions in the company. Elyxium Wealth LLC bought a new stake in Arch Capital Group in the fourth quarter worth about $27,000. WealthCollab LLC lifted its stake in shares of Arch Capital Group by 410.3% during the 3rd quarter. WealthCollab LLC now owns 296 shares of the insurance provider’s stock worth $27,000 after acquiring an additional 238 shares during the last quarter. Torren Management LLC boosted its holdings in Arch Capital Group by 66.9% during the 2nd quarter. Torren Management LLC now owns 292 shares of the insurance provider’s stock valued at $28,000 after acquiring an additional 117 shares during the period. JPL Wealth Management LLC bought a new position in Arch Capital Group in the 3rd quarter valued at $28,000. Finally, Zions Bancorporation National Association UT increased its stake in Arch Capital Group by 390.9% in the fourth quarter. Zions Bancorporation National Association UT now owns 324 shares of the insurance provider’s stock worth $31,000 after purchasing an additional 258 shares during the period. 89.07% of the stock is owned by hedge funds and other institutional investors.

Arch Capital Group Company Profile

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.