Wedge Capital Management L L P NC Raises Stock Holdings in Arch Capital Group Ltd. (NASDAQ:ACGL)

Wedge Capital Management L L P NC grew its holdings in shares of Arch Capital Group Ltd. (NASDAQ:ACGL) by 28.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 205,698 shares of the insurance provider’s stock after purchasing an additional 46,089 shares during the period. Wedge Capital Management L L P NC’s holdings in Arch Capital Group were worth $15,277,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in ACGL. AE Wealth Management LLC acquired a new position in Arch Capital Group in the 3rd quarter valued at about $698,000. IFP Advisors Inc raised its position in shares of Arch Capital Group by 14.6% during the 3rd quarter. IFP Advisors Inc now owns 1,551 shares of the insurance provider’s stock valued at $124,000 after acquiring an additional 198 shares in the last quarter. Global Retirement Partners LLC raised its position in shares of Arch Capital Group by 5.6% during the 3rd quarter. Global Retirement Partners LLC now owns 3,746 shares of the insurance provider’s stock valued at $301,000 after acquiring an additional 197 shares in the last quarter. HB Wealth Management LLC bought a new position in Arch Capital Group during the 3rd quarter worth $456,000. Finally, Leavell Investment Management Inc. bought a new position in shares of Arch Capital Group in the third quarter worth $279,000. 89.07% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Arch Capital Group

In related news, insider Nicolas Papadopoulo sold 60,000 shares of the stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $87.52, for a total value of $5,251,200.00. Following the completion of the transaction, the insider now directly owns 651,931 shares of the company’s stock, valued at $57,057,001.12. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, CEO Maamoun Rajeh sold 50,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $87.48, for a total value of $4,374,000.00. Following the sale, the chief executive officer now owns 336,170 shares in the company, valued at $29,408,151.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Nicolas Papadopoulo sold 60,000 shares of Arch Capital Group stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $87.52, for a total transaction of $5,251,200.00. Following the transaction, the insider now owns 651,931 shares in the company, valued at approximately $57,057,001.12. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 135,689 shares of company stock worth $11,872,217. Company insiders own 4.00% of the company’s stock.

Arch Capital Group Stock Performance

Shares of Arch Capital Group stock traded down $0.19 during mid-day trading on Tuesday, hitting $93.66. 122,324 shares of the stock were exchanged, compared to its average volume of 1,692,994. Arch Capital Group Ltd. has a 12 month low of $69.05 and a 12 month high of $95.01. The company has a 50-day simple moving average of $89.77 and a 200 day simple moving average of $84.14. The company has a market capitalization of $35.14 billion, a P/E ratio of 8.08, a P/E/G ratio of 1.16 and a beta of 0.57. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.57 and a current ratio of 0.57.

Arch Capital Group (NASDAQ:ACGL) last released its earnings results on Thursday, February 15th. The insurance provider reported $2.49 EPS for the quarter, beating analysts’ consensus estimates of $1.94 by $0.55. The business had revenue of $3.98 billion for the quarter, compared to analysts’ expectations of $3.67 billion. Arch Capital Group had a return on equity of 21.94% and a net margin of 32.59%. During the same quarter in the prior year, the firm earned $2.14 earnings per share. Sell-side analysts anticipate that Arch Capital Group Ltd. will post 8.03 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Citigroup dropped their target price on Arch Capital Group from $91.00 to $89.00 and set a “neutral” rating on the stock in a research report on Monday, January 22nd. Morgan Stanley lifted their target price on Arch Capital Group from $104.00 to $109.00 and gave the company an “overweight” rating in a research note on Monday, April 15th. StockNews.com cut Arch Capital Group from a “buy” rating to a “hold” rating in a research note on Monday, March 11th. Evercore ISI lifted their price objective on Arch Capital Group from $92.00 to $100.00 and gave the stock an “in-line” rating in a research note on Thursday, April 11th. Finally, UBS Group decreased their price objective on Arch Capital Group from $101.00 to $97.00 and set a “buy” rating for the company in a research note on Wednesday, January 10th. Five equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $96.23.

About Arch Capital Group

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; 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.