Arch Capital Group Ltd. (NASDAQ:ACGLN – Get Rating) was the target of a large increase in short interest during the month of November. As of November 30th, there was short interest totalling 91,300 shares, an increase of 223.8% from the November 15th total of 28,200 shares. Based on an average daily volume of 52,500 shares, the short-interest ratio is currently 1.7 days.
Insider Transactions at Arch Capital Group
In related news, CEO Maamoun Rajeh sold 50,000 shares of Arch Capital Group stock in a transaction on Monday, October 31st. The shares were sold at an average price of $57.09, for a total transaction of $2,854,500.00. Following the sale, the chief executive officer now directly owns 362,990 shares in the company, valued at approximately $20,723,099.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Arch Capital Group news, Director Brian S. Posner acquired 2,000 shares of the company's stock in a transaction on Friday, October 28th. The shares were bought at an average cost of $17.60 per share, for a total transaction of $35,200.00. Following the completion of the purchase, the director now owns 4,000 shares in the company, valued at approximately $70,400. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Maamoun Rajeh sold 50,000 shares of Arch Capital Group stock in a transaction on Monday, October 31st. The shares were sold at an average price of $57.09, for a total transaction of $2,854,500.00. Following the completion of the transaction, the chief executive officer now owns 362,990 shares in the company, valued at $20,723,099.10. The disclosure for this sale can be found here.
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Institutional Trading of Arch Capital Group
An institutional investor recently raised its position in Arch Capital Group stock. PNC Financial Services Group Inc. raised its holdings in Arch Capital Group Ltd. (NASDAQ:ACGLN – Get Rating) by 273.6% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,646 shares of the company's stock after purchasing an additional 2,670 shares during the period. PNC Financial Services Group Inc.'s holdings in Arch Capital Group were worth $77,000 at the end of the most recent reporting period.
Arch Capital Group Trading Down 1.1 %
Shares of Arch Capital Group stock traded down $0.21 on Monday, reaching $18.98. 5 shares of the stock were exchanged, compared to its average volume of 67,374. Arch Capital Group has a 1-year low of $17.02 and a 1-year high of $25.86. The business has a fifty day moving average price of $18.35 and a two-hundred day moving average price of $19.05.
Arch Capital Group Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Saturday, December 31st. Stockholders of record on Thursday, December 15th will be paid a dividend of $0.2844 per share. The ex-dividend date of this dividend is Wednesday, December 14th. This represents a $1.14 dividend on an annualized basis and a dividend yield of 5.99%.
About Arch Capital Group
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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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