In yesterday’s Wall Street session, Arch Capital Group Ltd (NASDAQ:ACGL) shares traded at $102.63, up 1.20% from the previous session.
ACGL stock price is now 7.96% away from the 50-day moving average and 20.81% away from the 200-day moving average. The market capitalization of the company currently stands at $38.54B.
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With the price target of $96, TD Cowen recently initiated with Outperform rating for Arch Capital Group Ltd (NASDAQ: ACGL). On December 14, 2023, Evercore ISI recently initiated its ‘In-line’ rating on the stock quoting a target price of $88, while ‘Citigroup’ rates the stock as ‘Neutral’
In other news, Gansberg David, CEO, GLOBAL MORTGAGE GROUP sold 10,000 shares of the company’s stock on May 06 ’24. The stock was sold for $966,444 at an average price of $96.64. Upon completion of the transaction, the CEO, GLOBAL MORTGAGE GROUP now directly owns 228,035 shares in the company, valued at $23.4 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Mar 07 ’24, OFFICER OF SUBSIDIARY Papadopoulo Nicolas sold 60,000 shares of the business’s stock. A total of $5,251,302 was realized by selling the stock at an average price of $87.52. This leaves the insider owning 651,931 shares of the company worth $66.91 million. A total of 3.42% of the company’s stock is owned by insiders.
During the past 12 months, Arch Capital Group Ltd has had a low of $69.05 and a high of $103.79. According to the stock market information, the enterprise value for the company is $38769504256, which is based on a 8.11 price-to-earnings ratio, a 0.41 price-to-earnings-growth ratio, and a beta of 0.59. The fifty day moving average price for ACGL is $95.275 and a two-hundred day moving average price translates $85.07915 for the stock.
The latest earnings results from Arch Capital Group Ltd (NASDAQ: ACGL) was released for 2024-03-31. The net profit margin was 34.15% and return on equity was 29.08% for ACGL. The company reported revenue of $3.94 billion for the quarter, compared to $3.17 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 24.4 percent.
