Arch Capital Group Ltd. (NASDAQ: ACGL) stock jumped 0.85% on Thursday to $72.38 against a previous-day closing price of $71.77. With 1.68 million shares changed hands, the volume of the stock remained lighter than its average volume of 2.14 million shares. During the session, the Insurance – Diversified company that operates in wider Financial sector, reached to the highest price of $73.06 whereas the lowest price it dropped to was $71.50. The 52-week range on ACGL shows that it touched its highest point at $78.30 and its lowest point at $41.05 during that stretch. It currently has a 1-year price target of $82.95. Beta for the stock currently stands at 0.73.
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Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of ACGL was down-trending over the past week, with a drop of -3.88%, but this was up by 0.12% over a month. Three-month performance surged to 4.64% while six-month performance rose 25.27%. The stock gained 56.90% in the past year, while it has gained 15.29% so far this year. A look at the trailing 12-month EPS for ACGL yields 5.19 with Next year EPS estimates of 6.83. For the next quarter, that number is 1.59. This implies an EPS growth rate of -27.30% for this year and 9.12% for next year. EPS is expected to grow by 17.95% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of 22.00%.
Float and Shares Shorts:
At present, 367.30 million ACGL shares are outstanding with a float of 358.48 million shares on hand for trading. On Apr 27, 2023, short shares totaled 4.36 million, which was 1.17% higher than short shares on Mar 30, 2023. In addition to Mr. Marc Grandisson as the firm’s CEO & Director, Mr. Nicolas Alain Emmanuel Papadopoulo serves as its Pres & Chief Underwriting Officer.
Through their ownership of 91.17% of ACGL’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 59.55% of ACGL, in contrast to 32.55% held by mutual funds. Shares owned by individuals account for 31.74%. As the largest shareholder in ACGL with 10.75% of the stake, The Vanguard Group, Inc. holds 39,886,698 shares worth 39,886,698. A second-largest stockholder of ACGL, Artisan Partners LP, holds 28,100,383 shares, controlling over 7.57% of the firm’s shares. BAMCO, Inc. is the third largest shareholder in ACGL, holding 21,290,775 shares or 5.74% stake. With a 5.15% stake in ACGL, the Artisan International Value Fund is the largest stakeholder. A total of 19,131,285 shares are owned by the mutual fund manager. The Vanguard Total Stock Market ETF, which owns about 2.94% of ACGL stock, is the second-largest Mutual Fund holder. It holds 10,928,929 shares valued at 820.43 million. Baron Growth Fund holds 2.44% of the stake in ACGL, owning 9,060,000 shares worth 680.13 million.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for ACGL since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With ACGL analysts setting a high price target of $90.00 and a low target of $67.00, the average target price over the next 12 months is $81.79. Based on these targets, ACGL could surge 24.34% to reach the target high and fall by -7.43% to reach the target low. Reaching the average price target will result in a growth of 13.0% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.
Summary of Insider Activity:
Insiders traded ACGL stock several times over the past three months with 4 Buys and 9 Sells. In these transactions, 122,239 shares were bought while 198,724 shares were sold. The number of buy transactions has increased to 35 while that of sell transactions has risen to 43 over the past year. The total number of shares bought during that period was 840,371 while 1,283,448 shares were sold.