Arch Capital Group CEO Marc Grandisson Sells 15,000 Shares (ACGL)
Arch Capital Group (NASDAQ:ACGL) CEO Marc Grandisson sold 15,000 shares of Arch Capital Group stock on the open market in a transaction dated Monday, June 2nd. The stock was sold at an average price of $57.05, for a total transaction of $855,750.00. Following the completion of the transaction, the chief executive officer now directly owns 510,524 shares in the company, valued at approximately $29,125,394. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
Arch Capital Group (NASDAQ:ACGL) traded up 0.65% on Wednesday, hitting $57.47. The stock had a trading volume of 1,048,599 shares. Arch Capital Group has a 52 week low of $49.46 and a 52 week high of $59.78. The stock has a 50-day moving average of $57.08 and a 200-day moving average of $56.64. The company has a market cap of $7.578 billion and a price-to-earnings ratio of 12.62.
Arch Capital Group (NASDAQ:ACGL) last released its earnings data on Thursday, May 1st. The company reported $1.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.06 by $0.24. The company had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.02 billion. During the same quarter in the previous year, the company posted $1.17 earnings per share. The company’s revenue for the quarter was up 11.8% on a year-over-year basis. Analysts expect that Arch Capital Group will post $3.73 EPS for the current fiscal year.
Separately, analysts at BMO Capital Markets raised their price target on shares of Arch Capital Group from $58.00 to $59.00 in a research note on Friday, May 9th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $58.97.
Arch Capital Group Ltd. (NASDAQ:ACGL) writes insurance and reinsurance on a worldwide basis.
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