Wedge Capital Management L L P NC Sells 19,855 Shares of Arch Capital Group Ltd. $ACGL

Wedge Capital Management L L P NC cut its holdings in Arch Capital Group Ltd. (NASDAQ:ACGL) by 18.6% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 87,133 shares of the insurance provider’s stock after selling 19,855 shares during the quarter. Wedge Capital Management L L P NC’s holdings in Arch Capital Group were worth $8,358,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of ACGL. WealthCollab LLC lifted its position in Arch Capital Group by 410.3% during the third quarter. WealthCollab LLC now owns 296 shares of the insurance provider’s stock valued at $27,000 after purchasing an additional 238 shares during the last quarter. JPL Wealth Management LLC bought a new stake in shares of Arch Capital Group in the 3rd quarter worth about $28,000. Aventura Private Wealth LLC purchased a new stake in shares of Arch Capital Group during the 4th quarter valued at about $30,000. Grove Bank & Trust purchased a new stake in shares of Arch Capital Group during the 4th quarter valued at about $30,000. Finally, Cornerstone Planning Group LLC lifted its holdings in shares of Arch Capital Group by 426.0% in the 3rd quarter. Cornerstone Planning Group LLC now owns 384 shares of the insurance provider’s stock valued at $33,000 after acquiring an additional 311 shares during the last quarter. Institutional investors own 89.07% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. JPMorgan Chase & Co. lifted their price target on Arch Capital Group from $111.00 to $117.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 7th. UBS Group restated a “buy” rating and set a $114.00 price objective (up from $113.00) on shares of Arch Capital Group in a research report on Tuesday, February 17th. Evercore set a $100.00 price objective on Arch Capital Group and gave the company an “in-line” rating in a research note on Wednesday, January 7th. Roth Mkm set a $110.00 target price on Arch Capital Group and gave the stock a “buy” rating in a report on Tuesday, December 2nd. Finally, Morgan Stanley set a $125.00 target price on Arch Capital Group in a research report on Friday, January 16th. Nine investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $109.20.

Arch Capital Group Price Performance

ACGL stock opened at $93.42 on Friday. Arch Capital Group Ltd. has a 12 month low of $82.44 and a 12 month high of $103.39. The company has a current ratio of 0.53, a quick ratio of 0.53 and a debt-to-equity ratio of 0.13. The company has a 50-day moving average price of $96.24 and a 200 day moving average price of $93.16. The stock has a market cap of $33.28 billion, a PE ratio of 8.04, a P/E/G ratio of 3.80 and a beta of 0.40.

Arch Capital Group (NASDAQ:ACGL) last issued its quarterly earnings results on Monday, February 9th. The insurance provider reported $2.98 EPS for the quarter, beating the consensus estimate of $2.34 by $0.64. The company had revenue of $4.93 billion for the quarter, compared to the consensus estimate of $3.94 billion. Arch Capital Group had a net margin of 22.07% and a return on equity of 16.73%. During the same period in the prior year, the firm posted $2.26 EPS. Equities research analysts anticipate that Arch Capital Group Ltd. will post 8.42 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider David Gansberg sold 5,907 shares of the firm’s stock in a transaction that occurred on Tuesday, March 10th. The stock was sold at an average price of $96.37, for a total transaction of $569,257.59. Following the completion of the sale, the insider directly owned 336,559 shares of the company’s stock, valued at approximately $32,434,190.83. This trade represents a 1.72% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Maamoun Rajeh sold 47,430 shares of the firm’s stock in a transaction that occurred on Wednesday, February 11th. The stock was sold at an average price of $96.12, for a total value of $4,558,971.60. Following the sale, the insider directly owned 433,589 shares of the company’s stock, valued at $41,676,574.68. This represents a 9.86% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 78,267 shares of company stock worth $7,291,637 over the last three months. 4.20% of the stock is currently owned by corporate insiders.

Arch Capital Group Profile

Arch Capital Group Ltd. (NASDAQ: ACGL) is a Bermuda-based insurance and reinsurance holding company that underwrites a broad range of property and casualty, mortgage, and specialty risk products. The company operates through a group of underwriting subsidiaries and platforms to provide insurance, reinsurance and related risk solutions tailored to commercial, institutional and individual clients.

Arch’s product mix includes treaty and facultative reinsurance, primary casualty and property insurance, mortgage insurance and other specialty lines.