In January, 6,650,000 shares of Arch Capital Group Ltd. (ACGL:NSD) were sold short, representing a 13.2% decline from the prior month. Currently, 1.9% of the Arch stock shares are sold short, and the short-interest ratio is 3.7 days based on the average daily trading volume of 1,800,000 shares.
Various analysts have published reports on ACGL stock shares. In research published on Tuesday, JMP Securities raised their target price on the shares from $70.00 to $75.00 and assigned the stock a “market perform” rating. Thursday, January 19th, BMO Capital Markets initiated coverage on shares of Arch Capital Group with a “market perform” rating and a target price of $65.00. Additionally, Morgan Stanley and Barclays boosted their target prices. Currently, four equity research analysts have a hold rating on the stock, while four have a buy rating, with an average rating of “Moderate Buy” and a consensus price target of $65.86.
Wednesday’s opening price for Arch stock was $66.28. It has a market capitalization of $24.51 billion, a price-to-earnings ratio of 21.24, a PEG ratio of 1.15, and a beta of 0.76. The 50-day simple moving average for the stock is $62.87, and the 200-day simple moving average is $54.41. The company’s debt-to-equity ratio is 0.26, its current ratio is 0.59, and its quick ratio is 0.59.
Arch Capital Group just reported quarterly earnings of $2.14 per share, exceeding the consensus expectation of $1.34 per share by $0.80. During the quarter, the company generated $2.95 billion in revenue, above analysts’ estimates of $2.68 billion. Arch Capital Group had a 13.89% net margin and a 13.16% return on equity. Recent changes in the holdings of hedge funds and other institutional investors have resulted in 88.78% of Arch stock being owned by these investors.
In summary, short interest in Arch Capital Group has decreased, while analysts have set fresh price targets for Arch stock. With a moderate buy rating and positive quarterly profits figures, the company is poised to continue its solid insurance market success.
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; collateral protection, debt cancellation, and service contract reimbursement products; 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.
The company was incorporated in 1995 and is based in Pembroke, Bermuda.