The Vanguard Group, Inc. recently announced the acquisition of new stake in Arch Capital Group Ltd. (NASDAQ:ACGL). The institutional investor has increased its shareholding in the Financial company by 18.87% to 39.56 million shares with purchase of 6.28 million shares. This fresh investment now brings its stake to 10.66% valued currently at $2.97 billion. In addition, Capital Research & Management Co raised its holdings by 43923.0 to 19.26 million shares. And SSgA Funds Management, Inc. has lifted its position by 90.73% or 7.39 million shares – to 15.54 million shares.
With over 2.18 million Arch Capital Group Ltd. (ACGL) shares trading Friday and a closing price of $76.02 on the day, the dollar volume was approximately $165.42 million. The shares have shown a positive half year performance of 34.50% and its price on 05/19/23 gained nearly 0.96%. Currently, there are 367.30M common shares owned by the public and among those 358.48M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 14 analysts who have offered their price forecasts for ACGL have a consensus price objective of $80.71. The analysts have set the share’s price value over the next 12 months at a high of $90.00 and a low of $65.00. The average price target is 8.35% above its recent price level and a downside to the estimated low will see the stock lose -16.95% over that period. But an upside of 15.53% will see the stock hit the forecast high price target while median target price for the stock is $82.50.
Insiders at the company have transacted a total of 80 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 36 of these insider trades were purchases, accounting for 894,646 shares. Insider sales of the common stock occurred on 44 occasions, with total insider shares sold totaling 1,337,723 shares.
The top 3 mutual fund holders in Arch Capital Group Ltd. are Artisan International Value Fund, Vanguard Total Stock Market ETF, and Baron Growth Fund. Artisan International Value Fund owns 23.07 million shares of the company’s stock, all valued at over $1.73 billion. The company bought an additional 0.49 million shares recently to bring their total holdings to about 6.22% of the shares outstanding. Vanguard Total Stock Market ETF bought 90391.0 shares to see its total holdings expand to 10.89 million shares valued at over $817.79 million and representing 2.94% of the shares outstanding. Baron Growth Fund now owns shares totaling to 2.44% of the shares outstanding.
Shares of Arch Capital Group Ltd. (NASDAQ: ACGL) opened at $75.77, up $0.47 from a prior closing price of $75.30. However, the script later moved the day high at 76.69, up 0.96%. The company’s stock has a 5-day price change of -1.14% and 12.11% over the past three months. ACGL shares are trading 21.09% year to date (YTD), with the 12-month market performance up to 65.91% higher. It has a 12-month low price of $41.05 and touched a high of $78.30 over the same period. ACGL has an average intraday trading volume of 2.14 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 1.67%, 7.61%, and 27.55% respectively.
Institutional ownership of Arch Capital Group Ltd. (NASDAQ: ACGL) shares accounts for 90.70% of the company’s 367.30M shares outstanding. Mutual fund holders own 32.60%, while other institutional holders and individual stakeholders account for 59.39% and 30.20% respectively.
It has a market capitalization of $28.04B and a beta (3y monthly) value of 0.73. The stock’s trailing 12-month PE ratio is 14.64, while the earnings-per-share (ttm) stands at $5.19. The company has a PEG of 0.82 and the debt-to-equity ratio at 0.21. Price movements for the stock have been influenced by the stock’s volatility, which stands at 2.39% over the week and 2.21% over the month.
Analysts forecast that Arch Capital Group Ltd. (ACGL) will achieve an EPS of $1.59 for the current quarter, $1.2 for the next quarter and $6.83 for 2024. The lowest estimate earnings-per-share for the quarter is $1.29 while analysts give the company a high EPS estimate of $1.87. Comparatively, EPS for the current quarter was $1.34 a year ago. Earnings per share for the fiscal year are expected to decrease by -27.30%, and 9.12% over the next financial year. EPS should shrink at an annualized rate of 17.95% over the next five years, compared to 22.00% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 14 brokerage firm advisors rate Arch Capital Group Ltd. (ACGL) as a “Strong Buy” at a consensus score of 1.80. Specifically, 11 Wall Street analysts polled rate the stock as a buy, while 2 of the 14 advise that investors “hold,” and 0 rated it as a “Sell.”
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