Arch Capital Group Ltd. (NASDAQ:ACGL) Sees Significant Increase in Short Interest

Arch Capital Group Ltd. (NASDAQ:ACGL) was the target of a large increase in short interest in November. As of November 15th, there was short interest totalling 5,910,000 shares, an increase of 31.3% from the October 31st total of 4,500,000 shares. Approximately 1.6% of the company’s stock are sold short. Based on an average daily trading volume, of 1,850,000 shares, the short-interest ratio is currently 3.2 days.

Institutional Investors Weigh In On Arch Capital Group

Several institutional investors have recently made changes to their positions in the stock. Franklin Resources Inc. increased its holdings in shares of Arch Capital Group by 10.1% in the 3rd quarter. Franklin Resources Inc. now owns 608,467 shares of the insurance provider’s stock valued at $67,595,000 after purchasing an additional 55,939 shares in the last quarter. Synovus Financial Corp grew its position in Arch Capital Group by 12.7% during the third quarter. Synovus Financial Corp now owns 4,601 shares of the insurance provider’s stock worth $515,000 after buying an additional 519 shares during the period. Tidal Investments LLC grew its position in Arch Capital Group by 19.6% during the third quarter. Tidal Investments LLC now owns 24,505 shares of the insurance provider’s stock worth $2,742,000 after buying an additional 4,022 shares during the period. Wilmington Savings Fund Society FSB purchased a new position in Arch Capital Group in the third quarter valued at about $6,817,000. Finally, World Investment Advisors LLC acquired a new stake in shares of Arch Capital Group during the 3rd quarter valued at approximately $312,000. 89.07% of the stock is currently owned by hedge funds and other institutional investors.

Arch Capital Group Trading Down 0.0 %

Shares of Arch Capital Group stock opened at $100.72 on Monday. The firm has a market cap of $37.90 billion, a price-to-earnings ratio of 6.76, a price-to-earnings-growth ratio of 1.60 and a beta of 0.61. Arch Capital Group has a 52-week low of $72.85 and a 52-week high of $116.47. The company’s 50-day simple moving average is $105.40 and its 200-day simple moving average is $103.41. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 0.17.

Arch Capital Group (NASDAQ:ACGL) last released its earnings results 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 company had revenue of $4.72 billion for the quarter, compared to analysts’ expectations 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 quarter in the previous year, the firm posted $2.31 EPS. As a group, equities research analysts anticipate that Arch Capital Group will post 8.99 earnings per share for the current year.

Arch Capital Group Dividend Announcement

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 given a $5.00 dividend. The ex-dividend date is Monday, November 18th.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on ACGL. Barclays started coverage on shares of Arch Capital Group in a research report on Wednesday, September 4th. They issued an “equal weight” rating and a $120.00 target price on the stock. Evercore ISI raised their price objective on Arch Capital Group from $104.00 to $107.00 and gave the stock an “in-line” rating in a report on Wednesday, October 9th. Roth Mkm boosted their target price on Arch Capital Group from $110.00 to $125.00 and gave the company a “buy” rating in a report on Friday, August 23rd. TD Cowen raised their price target on Arch Capital Group from $116.00 to $138.00 and gave the stock a “buy” rating in a research note on Friday, September 20th. Finally, Bank of America cut their price target on Arch Capital Group from $143.00 to $136.00 and set a “buy” rating on the stock in a research report on Friday, November 15th. Six analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, Arch Capital Group currently has a consensus rating of “Moderate Buy” and an average target price of $118.38.

About Arch Capital Group

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.