Arch Capital Group Ltd. (NASDAQ:ACGLN – Get Rating) was the target of a large drop in short interest in December. As of December 15th, there was short interest totalling 72,200 shares, a drop of 20.9% from the November 30th total of 91,300 shares. Based on an average daily volume of 52,600 shares, the short-interest ratio is currently 1.4 days.
Arch Capital Group Trading Down 3.6 %
Shares of ACGLN opened at $17.27 on Monday. The company's fifty day moving average is $18.44 and its two-hundred day moving average is $18.91. Arch Capital Group has a fifty-two week low of $17.02 and a fifty-two week high of $25.86.
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Arch Capital Group Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Saturday, December 31st. Shareholders of record on Thursday, December 15th were issued a $0.2844 dividend. The ex-dividend date was Wednesday, December 14th. This represents a $1.14 dividend on an annualized basis and a dividend yield of 6.59%.
Insider Transactions at Arch Capital Group
In related news, CEO Maamoun Rajeh sold 50,000 shares of the firm's stock in a transaction that occurred 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 owns 362,990 shares in the company, valued at $20,723,099.10. The sale was disclosed in a document filed with the SEC, which can be accessed through
this hyperlink. In related news, CEO Maamoun Rajeh sold 50,000 shares of the firm's stock in a transaction that occurred 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 owns 362,990 shares in the company, valued at $20,723,099.10. The sale was disclosed in a document filed with the SEC, which can be accessed through
this hyperlink. Also, Director Brian S. Posner bought 2,000 shares of the firm's stock in a transaction that occurred on Friday, October 28th. The shares were purchased at an average price of $17.60 per share, for a total transaction of $35,200.00. Following the transaction, the director now owns 4,000 shares of the company's stock, valued at approximately $70,400. The disclosure for this purchase can be found
here.
Hedge Funds Weigh In On Arch Capital Group
A hedge fund recently raised its stake in Arch Capital Group stock. PNC Financial Services Group Inc. lifted its holdings in shares of Arch Capital Group Ltd. (NASDAQ:ACGLN – Get Rating) by 273.6% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,646 shares of the company's stock after acquiring an additional 2,670 shares during the quarter. PNC Financial Services Group Inc.'s holdings in Arch Capital Group were worth $77,000 as of its most recent filing with the Securities and Exchange Commission.
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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