Arch Capital Group Ltd. (NASDAQ:ACGL) Short Interest Down 15.3% in October

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

Wall Street Analyst Weigh In

A number of research firms have issued reports on ACGL. Evercore ISI boosted their price target on Arch Capital Group from $104.00 to $107.00 and gave the company an “in-line” rating in a research note on Wednesday, October 9th. JMP Securities boosted their target price on shares of Arch Capital Group from $115.00 to $125.00 and gave the company a “market outperform” rating in a research report on Tuesday, October 15th. BMO Capital Markets increased their price target on shares of Arch Capital Group from $98.00 to $104.00 and gave the stock a “market perform” rating in a research report on Wednesday, November 6th. TD Cowen boosted their price objective on shares of Arch Capital Group from $116.00 to $138.00 and gave the company a “buy” rating in a research report on Friday, September 20th. Finally, Wells Fargo & Company reduced their price objective on Arch Capital Group from $126.00 to $118.00 and set an “overweight” rating for the company in a research note on Monday, November 4th. Six research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $118.94.

Arch Capital Group Stock Performance

NASDAQ:ACGL opened at $101.83 on Monday. The stock has a 50-day moving average price of $108.03 and a 200 day moving average price of $103.36. The stock has a market capitalization of $38.31 billion, a P/E ratio of 6.83, a P/E/G ratio of 1.47 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 current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 0.17.

Arch Capital Group (NASDAQ:ACGL) last announced its quarterly earnings results on Wednesday, October 30th. The insurance provider reported $1.99 EPS for the quarter, topping the consensus estimate of $1.94 by $0.05. The business had revenue of $4.72 billion for the quarter, compared to analysts’ expectations of $4.05 billion. Arch Capital Group had a net margin of 33.86% and a return on equity of 18.94%. During the same quarter in the previous year, the company earned $2.31 EPS. Equities research analysts forecast that Arch Capital Group will post 9.01 EPS for the current fiscal year.

Arch Capital Group Announces Dividend

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

Institutional Inflows and Outflows

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

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.