Wedge Capital Management L L P NC Acquires 46,089 Shares of Arch Capital Group Ltd. (NASDAQ:ACGL)

Wedge Capital Management L L P NC lifted its position in shares of Arch Capital Group Ltd. (NASDAQ:ACGL) by 28.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 205,698 shares of the insurance provider’s stock after acquiring an additional 46,089 shares during the period. Wedge Capital Management L L P NC owned approximately 0.06% of Arch Capital Group worth $15,277,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Duality Advisers LP bought a new stake in shares of Arch Capital Group in the 4th quarter worth about $6,677,000. Handelsbanken Fonder AB raised its holdings in shares of Arch Capital Group by 24.0% in the 4th quarter. Handelsbanken Fonder AB now owns 87,184 shares of the insurance provider’s stock valued at $6,475,000 after purchasing an additional 16,849 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd raised its holdings in shares of Arch Capital Group by 13.1% in the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 60,045 shares of the insurance provider’s stock valued at $4,460,000 after purchasing an additional 6,946 shares in the last quarter. OVERSEA CHINESE BANKING Corp Ltd raised its stake in shares of Arch Capital Group by 73.0% during the 4th quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 14,198 shares of the insurance provider’s stock worth $1,054,000 after acquiring an additional 5,991 shares in the last quarter. Finally, abrdn plc raised its stake in shares of Arch Capital Group by 73.6% during the 4th quarter. abrdn plc now owns 190,773 shares of the insurance provider’s stock worth $14,169,000 after acquiring an additional 80,906 shares in the last quarter. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Arch Capital Group Trading Down 0.2 %

Shares of NASDAQ:ACGL traded down $0.19 during midday trading on Tuesday, reaching $93.66. The company’s stock had a trading volume of 122,324 shares, compared to its average volume of 1,692,994. The firm has a market capitalization of $35.14 billion, a price-to-earnings ratio of 8.08, a PEG 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. The firm has a 50 day moving average price of $89.77 and a two-hundred day moving average price of $84.14. Arch Capital Group Ltd. has a fifty-two week low of $69.05 and a fifty-two week high of $95.01.

Arch Capital Group (NASDAQ:ACGL) last announced its quarterly earnings data on Thursday, February 15th. The insurance provider reported $2.49 EPS for the quarter, topping the consensus estimate of $1.94 by $0.55. Arch Capital Group had a net margin of 32.59% and a return on equity of 21.94%. The business had revenue of $3.98 billion for the quarter, compared to analyst estimates of $3.67 billion. During the same quarter in the previous year, the firm posted $2.14 earnings per share. As a group, analysts forecast that Arch Capital Group Ltd. will post 8.03 earnings per share for the current year.

Analysts Set New Price Targets

ACGL has been the topic of several recent research reports. Morgan Stanley upped their price objective on shares of Arch Capital Group from $104.00 to $109.00 and gave the company an “overweight” rating in a report on Monday, April 15th. JPMorgan Chase & Co. increased their target price on shares of Arch Capital Group from $88.00 to $92.00 and gave the stock a “neutral” rating in a research note on Monday, April 8th. StockNews.com downgraded shares of Arch Capital Group from a “buy” rating to a “hold” rating in a research note on Monday, March 11th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $98.00 target price on shares of Arch Capital Group in a report on Friday, February 16th. Finally, JMP Securities restated a “market outperform” rating and set a $100.00 target price on shares of Arch Capital Group in a research report on Monday, April 15th. Five investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $96.23.

Insider Activity

In other news, CFO Francois Morin sold 25,689 shares of the company’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $87.47, for a total value of $2,247,016.83. Following the completion of the sale, the chief financial officer now owns 221,779 shares of the company’s stock, valued at approximately $19,399,009.13. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Nicolas Papadopoulo sold 60,000 shares of the firm’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $87.52, for a total transaction of $5,251,200.00. Following the sale, the insider now owns 651,931 shares of the company’s stock, valued at approximately $57,057,001.12. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Francois Morin sold 25,689 shares of the stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $87.47, for a total transaction of $2,247,016.83. Following the completion of the transaction, the chief financial officer now owns 221,779 shares in the company, valued at approximately $19,399,009.13. The disclosure for this sale can be found here. In the last 90 days, insiders sold 135,689 shares of company stock valued at $11,872,217. Corporate insiders own 4.00% of the company’s stock.

Arch Capital Group Profile

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.