Arch Capital Group Ltd. (NASDAQ:ACGL) Short Interest Update

Key Points

• Short Interest Growth: Arch Capital Group saw a significant increase in short interest, growing by 29.9% in August to a total of 6,090,000 shares.
• Insider Trading: Insider Maamoun Rajeh sold 10,000 shares at an average price of $94.15, decreasing his position by 2.25%.
• Institutional Investment: Institutional investors own 89.07% of Arch Capital Group's stock, with notable purchases by Norges Bank and Ameriprise Financial.

Arch Capital Group Ltd. (NASDAQ:ACGL - Get Free Report) was the recipient of a large growth in short interest during the month of August. As of August 15th, there was short interest totaling 6,090,000 shares, agrowthof29.9% from the July 31st total of 4,690,000 shares. Based on an average daily trading volume, of 2,180,000 shares, the short-interest ratio is currently 2.8 days. Approximately1.7% of the company's shares are sold short. Approximately1.7% of the company's shares are sold short. Based on an average daily trading volume, of 2,180,000 shares, the short-interest ratio is currently 2.8 days.

Insider Activity at Arch Capital Group

In other Arch Capital Group news, insider Maamoun Rajeh sold 10,000 shares of the company's stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $94.15, for a total value of $941,500.00. Following the sale, the insider owned 433,589 shares in the company, valued at approximately $40,822,404.35. The trade was a 2.25% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 4.10% of the company's stock.

Hedge Funds Weigh In On Arch Capital Group

Several institutional investors and hedge funds have recently bought and sold shares of ACGL. Norges Bank bought a new position in shares of Arch Capital Group in the second quarter worth $441,551,000. Nuveen LLC purchased a new stake in Arch Capital Group during the first quarter valued at about $399,651,000. JPMorgan Chase & Co. raised its position in Arch Capital Group by 30.5% during the first quarter. JPMorgan Chase & Co. now owns 7,470,591 shares of the insurance provider's stock valued at $718,522,000 after purchasing an additional 1,743,945 shares in the last quarter. Ameriprise Financial Inc. increased its holdings in shares of Arch Capital Group by 289.1% in the second quarter. Ameriprise Financial Inc. now owns 1,368,648 shares of the insurance provider's stock worth $124,615,000 after buying an additional 1,016,919 shares during the period. Finally, GAMMA Investing LLC increased its holdings in shares of Arch Capital Group by 10,817.9% in the first quarter. GAMMA Investing LLC now owns 806,181 shares of the insurance provider's stock worth $775,380,000 after buying an additional 798,797 shares during the period. 89.07% of the stock is owned by institutional investors.

Arch Capital Group Stock Down 0.4%

ACGL stock opened at $90.90 on Tuesday. The stock's 50 day simple moving average is $89.70 and its 200 day simple moving average is $91.35. Arch Capital Group has a fifty-two week low of $82.49 and a fifty-two week high of $116.47. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.56 and a current ratio of 0.56. The company has a market cap of $33.93 billion, a P/E ratio of 9.38, a price-to-earnings-growth ratio of 5.59 and a beta of 0.51.

Arch Capital Group (NASDAQ:ACGL - Get Free Report) last issued its quarterly earnings data on Tuesday, July 29th. The insurance provider reported $2.58 EPS for the quarter, topping the consensus estimate of $2.30 by $0.28. The firm had revenue of $4.35 billion during the quarter, compared to the consensus estimate of $4.29 billion. Arch Capital Group had a return on equity of 15.33% and a net margin of 19.49%.During the same period in the prior year, the business posted $2.57 earnings per share. On average, research analysts expect that Arch Capital Group will post 8.42 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on ACGL. Morgan Stanley set a $110.00 price objective on Arch Capital Group and gave the company an "overweight" rating in a research note on Monday, May 19th. Jefferies Financial Group downgraded Arch Capital Group from a "buy" rating to a "hold" rating and dropped their price objective for the company from $106.00 to $100.00 in a research note on Tuesday, June 10th. Cantor Fitzgerald raised Arch Capital Group to a "hold" rating in a research note on Wednesday, August 13th. Citigroup began coverage on Arch Capital Group in a research note on Wednesday, August 13th. They issued a "buy" rating and a $113.00 price objective on the stock. Finally, Keefe, Bruyette & Woods boosted their price objective on Arch Capital Group from $102.00 to $103.00 and gave the company a "market perform" rating in a research note on Thursday, August 14th. Nine analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $111.27.

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.

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