Arch Capital Group Ltd. (NASDAQ:ACGLN – Get Rating) was the recipient of a significant decrease in short interest in February. As of February 15th, there was short interest totalling 8,900 shares, a decrease of 49.4% from the January 31st total of 17,600 shares. Based on an average daily trading volume, of 64,700 shares, the days-to-cover ratio is presently 0.1 days.
Insider Buying and Selling at Arch Capital Group
In related news, CFO Francois Morin sold 15,814 shares of the stock in a transaction that occurred on Tuesday, February 21st. The stock was sold at an average price of $67.61, for a total value of $1,069,184.54. Following the completion of the transaction, the chief financial officer now directly owns 185,869 shares of the company's stock, valued at approximately $12,566,603.09. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Arch Capital Group news, insider John M. Pasquesi sold 26,329 shares of the stock in a transaction on Wednesday, February 15th. The shares were sold at an average price of $67.01, for a total transaction of $1,764,306.29. Following the transaction, the insider now directly owns 756,635 shares of the company's stock, valued at $50,702,111.35. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Francois Morin sold 15,814 shares of the firm's stock in a transaction dated Tuesday, February 21st. The shares were sold at an average price of $67.61, for a total value of $1,069,184.54. Following the completion of the sale, the chief financial officer now directly owns 185,869 shares in the company, valued at $12,566,603.09. The disclosure for this sale can be found here.
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Institutional Investors Weigh In On Arch Capital Group
An institutional investor recently raised its position in Arch Capital Group stock. PNC Financial Services Group Inc. boosted its stake in Arch Capital Group Ltd. (NASDAQ:ACGLN – Get Rating) by 273.6% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 3,646 shares of the company's stock after buying an additional 2,670 shares during the period. PNC Financial Services Group Inc.'s holdings in Arch Capital Group were worth $77,000 as of its most recent filing with the SEC.
Arch Capital Group Stock Performance
Shares of NASDAQ:ACGLN traded down $0.18 during trading on Thursday, reaching $18.95. The stock had a trading volume of 5,035 shares, compared to its average volume of 66,097. Arch Capital Group has a 52 week low of $17.02 and a 52 week high of $22.27. The business's 50-day moving average price is $19.23 and its 200 day moving average price is $18.81.
Arch Capital Group Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Friday, March 31st. Stockholders of record on Wednesday, March 15th will be issued a $0.2844 dividend. This represents a $1.14 annualized dividend and a dividend yield of 6.00%. The ex-dividend date is Tuesday, March 14th.
Arch Capital Group Company Profile
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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.
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