Wedge Capital Management L L P NC Trims Holdings in Arch Capital Group Ltd. $ACGL

Wedge Capital Management L L P NC trimmed its holdings in shares of Arch Capital Group Ltd. (NASDAQ:ACGL) by 18.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund 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 reporting period.

A number of other large investors have also recently made changes to their positions in the stock. WealthCollab LLC increased its stake in Arch Capital Group by 410.3% in the 3rd quarter. WealthCollab LLC now owns 296 shares of the insurance provider’s stock worth $27,000 after buying an additional 238 shares during the period. JPL Wealth Management LLC purchased a new stake in Arch Capital Group in the 3rd quarter valued at about $28,000. Grove Bank & Trust purchased a new stake in Arch Capital Group in the 4th quarter valued at about $30,000. Aventura Private Wealth LLC bought a new position in Arch Capital Group in the 4th quarter worth about $30,000. Finally, Cornerstone Planning Group LLC grew its stake in Arch Capital Group by 426.0% in the 3rd quarter. Cornerstone Planning Group LLC now owns 384 shares of the insurance provider’s stock worth $33,000 after acquiring an additional 311 shares in the last quarter. 89.07% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CEO Nicolas Papadopoulo sold 21,930 shares of the business’s stock in a transaction that occurred on Tuesday, March 10th. The shares were sold at an average price of $96.31, for a total transaction of $2,112,078.30. Following the completion of the transaction, the chief executive officer owned 871,594 shares in the company, valued at $83,943,218.14. The trade was a 2.45% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Brian S. Posner sold 3,000 shares of the stock in a transaction that occurred on Wednesday, March 11th. The shares were sold at an average price of $17.11, for a total transaction of $51,330.00. Following the sale, the director directly owned 2,000 shares of the company’s stock, valued at $34,220. The trade was a 60.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 78,267 shares of company stock worth $7,291,637. Insiders own 4.20% of the company’s stock.

Arch Capital Group Price Performance

ACGL opened at $93.42 on Friday. The business’s 50-day moving average is $96.24 and its two-hundred day moving average is $93.16. Arch Capital Group Ltd. has a 1 year low of $82.44 and a 1 year high of $103.39. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.53 and a quick ratio of 0.53. The firm has a market capitalization of $33.28 billion, a PE ratio of 8.04, a price-to-earnings-growth ratio of 3.80 and a beta of 0.40.

Arch Capital Group (NASDAQ:ACGL) last released 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. Arch Capital Group had a net margin of 22.07% and a return on equity of 16.73%. The business had revenue of $4.93 billion during the quarter, compared to analyst estimates of $3.94 billion. During the same period in the prior year, the firm posted $2.26 earnings per share. Research analysts anticipate that Arch Capital Group Ltd. will post 8.42 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Roth Mkm set a $110.00 price target on shares of Arch Capital Group and gave the company a “buy” rating in a research note on Tuesday, December 2nd. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $104.00 price objective (up from $102.00) on shares of Arch Capital Group in a research note on Thursday, February 12th. Barclays set a $104.00 target price on Arch Capital Group and gave the company an “equal weight” rating in a research report on Thursday, January 8th. Citigroup reiterated a “buy” rating and issued a $120.00 target price (up from $113.00) on shares of Arch Capital Group in a report on Friday, February 13th. Finally, Cantor Fitzgerald reissued a “neutral” rating and set a $100.00 price target (up from $97.00) on shares of Arch Capital Group in a research report on Tuesday, February 17th. Nine research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $109.20.

Arch Capital Group Company 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.