Louis T. Petrillo Sells 2,990 Shares of Arch Capital Group Ltd. (ACGL) Stock
Arch Capital Group Ltd. (NASDAQ:ACGL) insider Louis T. Petrillo sold 2,990 shares of the stock in a transaction on Wednesday, May 24th. The stock was sold at an average price of $94.98, for a total value of $283,990.20. Following the sale, the insider now directly owns 56,268 shares of the company’s stock, valued at $5,344,334.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.
Arch Capital Group Ltd. (NASDAQ:ACGL) traded down 0.026% during midday trading on Thursday, reaching $95.035. The company had a trading volume of 119,028 shares. The firm has a 50-day moving average of $95.43 and a 200-day moving average of $90.48. The stock has a market cap of $12.74 billion, a P/E ratio of 16.108 and a beta of 0.60. Arch Capital Group Ltd. has a 12 month low of $67.50 and a 12 month high of $99.11.
Arch Capital Group (NASDAQ:ACGL) last announced its quarterly earnings results on Tuesday, April 25th. The insurance provider reported $1.42 earnings per share for the quarter, beating analysts’ consensus estimates of $1.33 by $0.09. Arch Capital Group had a return on equity of 8.23% and a net margin of 15.60%. The business had revenue of $1.23 billion during the quarter, compared to analysts’ expectations of $1.19 billion. During the same quarter last year, the business posted $1.20 earnings per share. On average, equities analysts expect that Arch Capital Group Ltd. will post $5.54 EPS for the current fiscal year.
TRADEMARK VIOLATION WARNING: This piece of content was originally posted by American Banking News and is owned by of American Banking News. If you are reading this piece of content on another website, it was copied illegally and republished in violation of international copyright and trademark legislation. The original version of this piece of content can be accessed at https://www.americanbankingnews.com/2017/05/25/louis-t-petrillo-sells-2990-shares-of-arch-capital-group-ltd-acgl-stock.html.
Hedge funds have recently bought and sold shares of the company. Adalta Capital Management LLC purchased a new position in Arch Capital Group during the first quarter valued at $379,000. Point72 Asset Management L.P. increased its stake in shares of Arch Capital Group by 324.2% in the first quarter. Point72 Asset Management L.P. now owns 75,500 shares of the insurance provider’s stock worth $7,155,000 after buying an additional 57,700 shares during the period. Janus Capital Management LLC increased its stake in shares of Arch Capital Group by 53.9% in the first quarter. Janus Capital Management LLC now owns 576,863 shares of the insurance provider’s stock worth $54,669,000 after buying an additional 202,100 shares during the period. Credit Suisse AG increased its stake in shares of Arch Capital Group by 39.6% in the first quarter. Credit Suisse AG now owns 387,107 shares of the insurance provider’s stock worth $36,685,000 after buying an additional 109,798 shares during the period. Finally, Jane Street Group LLC purchased a new stake in shares of Arch Capital Group during the first quarter worth $510,000. Hedge funds and other institutional investors own 77.05% of the company’s stock.
ACGL has been the subject of a number of recent research reports. Wells Fargo & Co reiterated a “hold” rating on shares of Arch Capital Group in a research report on Wednesday, April 26th. Credit Suisse Group AG reiterated a “buy” rating and issued a $98.00 price target on shares of Arch Capital Group in a report on Wednesday, February 15th. Keefe, Bruyette & Woods set a $95.00 price target on Arch Capital Group and gave the company a “hold” rating in a report on Thursday, April 6th. Deutsche Bank AG boosted their price objective on Arch Capital Group from $78.00 to $87.00 and gave the company a “hold” rating in a research report on Thursday, March 30th. Finally, Morgan Stanley boosted their price objective on Arch Capital Group from $90.00 to $96.00 and gave the company an “equal weight” rating in a research report on Friday, April 28th. Eight analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Arch Capital Group presently has an average rating of “Hold” and a consensus price target of $91.50.
Arch Capital Group Company Profile
Arch Capital Group Ltd. provides insurance, reinsurance and mortgage insurance. The Company provides a range of property, casualty and mortgage insurance and reinsurance lines. The Company operates in five segments: insurance, reinsurance, mortgage, other and corporate. The insurance segment’s product lines include construction and national accounts; excess and surplus casualty; lenders products; professional lines; programs; property, energy, marine and aviation; travel, accident and health, and other.
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 MarketBeat.com's FREE daily email newsletter.