Arch Capital Group Ltd. (NASDAQ:ACGL) Sees Large Decrease in Short Interest

Arch Capital Group Ltd. (NASDAQ:ACGL - Get Free Report) was the recipient of a large drop in short interest during the month of October. As of October 31st, there was short interest totalling 4,500,000 shares, a drop of 15.3% from the October 15th total of 5,310,000 shares. Approximately 1.2% of the shares of the company are sold short. Based on an average daily trading volume, of 1,640,000 shares, the short-interest ratio is currently 2.7 days.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Farther Finance Advisors LLC raised its position in shares of Arch Capital Group by 12.8% in the third quarter. Farther Finance Advisors LLC now owns 890 shares of the insurance provider's stock valued at $100,000 after buying an additional 101 shares during the last quarter. Fiduciary Financial Group LLC lifted its stake in shares of Arch Capital Group by 2.8% during the 3rd quarter. Fiduciary Financial Group LLC now owns 3,779 shares of the insurance provider's stock worth $415,000 after purchasing an additional 103 shares during the period. Baldwin Brothers LLC MA lifted its stake in shares of Arch Capital Group by 50.7% during the 2nd quarter. Baldwin Brothers LLC MA now owns 309 shares of the insurance provider's stock worth $31,000 after purchasing an additional 104 shares during the period. Fidelis Capital Partners LLC boosted its holdings in shares of Arch Capital Group by 3.1% during the second quarter. Fidelis Capital Partners LLC now owns 3,553 shares of the insurance provider's stock worth $344,000 after purchasing an additional 106 shares during the last quarter. Finally, KG&L Capital Management LLC increased its stake in Arch Capital Group by 1.1% in the third quarter. KG&L Capital Management LLC now owns 10,854 shares of the insurance provider's stock valued at $1,214,000 after purchasing an additional 115 shares during the last quarter. 89.07% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on ACGL shares. JMP Securities boosted their price target on shares of Arch Capital Group from $115.00 to $125.00 and gave the stock a "market outperform" rating in a research note on Tuesday, October 15th. Royal Bank of Canada dropped their target price on Arch Capital Group from $128.00 to $125.00 and set an "outperform" rating on the stock in a research report on Friday, November 1st. JPMorgan Chase & Co. increased their target price on Arch Capital Group from $108.00 to $110.00 and gave the stock a "neutral" rating in a research note on Thursday, October 10th. Citigroup lifted their price target on Arch Capital Group from $105.00 to $114.00 and gave the company a "neutral" rating in a research note on Tuesday, September 10th. Finally, Bank of America dropped their price objective on Arch Capital Group from $143.00 to $136.00 and set a "buy" rating on the stock in a report on Friday. Six investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $118.94.

Arch Capital Group Price Performance

Shares of NASDAQ ACGL traded up $1.78 on Friday, hitting $101.83. The company's stock had a trading volume of 2,727,138 shares, compared to its average volume of 1,676,880. The stock has a 50 day moving average of $108.03 and a 200-day moving average of $103.24. The company has a market capitalization of $38.31 billion, a price-to-earnings ratio of 6.83, a price-to-earnings-growth ratio of 1.46 and a beta of 0.61. Arch Capital Group has a 12-month low of $72.85 and a 12-month high of $116.47. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.58 and a quick ratio of 0.58.

Arch Capital Group (NASDAQ:ACGL - Get Free Report) last issued its quarterly earnings data on Wednesday, October 30th. The insurance provider reported $1.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.94 by $0.05. The firm had revenue of $4.72 billion during the quarter, compared to the consensus estimate of $4.05 billion. Arch Capital Group had a return on equity of 18.94% and a net margin of 33.86%. During the same period in the previous year, the firm posted $2.31 EPS. As a group, research analysts predict that Arch Capital Group will post 9.02 EPS for the current year.

Arch Capital Group Dividend Announcement

The business also recently disclosed a special dividend, which will be paid on Wednesday, December 4th. Investors of record on Monday, November 18th will be paid a dividend of $5.00 per share. The ex-dividend date of this dividend is Monday, November 18th.

Arch Capital Group Company Profile

Arch Capital Group Ltd., together with its subsidiaries, provides insurance, reinsurance, and mortgage insurance products worldwide. The company's Insurance segment offers primary and excess casualty coverages; loss sensitive primary casualty insurance programs; directors' and officers' liability, errors and omissions liability, employment practices and fiduciary liability, crime, professional indemnity, and other financial related coverages; medical professional and general liability insurance coverages; and workers' compensation and umbrella liability, as well as commercial automobile and inland marine products.