Insider Selling: John M. Pasquesi Unloads 39,960 Shares of Arch Capital Group Stock (ACGL)
Arch Capital Group (NASDAQ:ACGL) Chairman John M. Pasquesi unloaded 39,960 shares of the stock on the open market in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $55.47, for a total transaction of $2,216,581.20. Following the completion of the transaction, the chairman now directly owns 1,317 shares in the company, valued at approximately $73,054. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
Arch Capital Group (NASDAQ:ACGL) traded down 0.45% on Thursday, hitting $55.25. 681,743 shares of the company’s stock traded hands. Arch Capital Group has a 52-week low of $52.23 and a 52-week high of $59.78. The stock’s 50-day moving average is $55.20 and its 200-day moving average is $56.57. The company has a market cap of $7.329 billion and a price-to-earnings ratio of 11.70.
Arch Capital Group (NASDAQ:ACGL) last released its earnings data on Thursday, July 31st. The company reported $1.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.99 by $0.18. The company had revenue of $971.90 million for the quarter, compared to the consensus estimate of $926.20 million. During the same quarter in the previous year, the company posted $0.99 earnings per share. The company’s revenue for the quarter was up 19.9% on a year-over-year basis. Analysts expect that Arch Capital Group will post $3.97 EPS for the current fiscal year.
Separately, analysts at Zacks downgraded shares of Arch Capital Group from an “outperform” rating to a “neutral” rating in a research note on Monday, August 11th. They now have a $61.90 price target on the stock. Two investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $60.70.
Arch Capital Group Ltd. (NASDAQ:ACGL) writes insurance and reinsurance on a worldwide basis.
Receive News & Ratings for Arch Capital Group Ltd Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Arch Capital Group Ltd and related companies with Analyst Ratings Network's FREE daily email newsletter.