VELA Investment Management LLC Cuts Stake in Arch Capital Group Ltd. (NASDAQ:ACGL)

VELA Investment Management LLC lowered its position in shares of Arch Capital Group Ltd. (NASDAQ:ACGL) by 3.7% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 42,965 shares of the insurance provider’s stock after selling 1,662 shares during the quarter. Arch Capital Group accounts for 1.5% of VELA Investment Management LLC’s investment portfolio, making the stock its 12th largest holding. VELA Investment Management LLC’s holdings in Arch Capital Group were worth $4,807,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the company. UMB Bank n.a. purchased a new position in shares of Arch Capital Group in the 2nd quarter valued at about $30,000. Baldwin Brothers LLC MA increased its holdings in shares of Arch Capital Group by 50.7% in the 2nd quarter. Baldwin Brothers LLC MA now owns 309 shares of the insurance provider’s stock valued at $31,000 after purchasing an additional 104 shares in the last quarter. Rothschild Investment LLC purchased a new position in shares of Arch Capital Group in the 2nd quarter valued at about $35,000. LRI Investments LLC purchased a new position in shares of Arch Capital Group in the 1st quarter valued at about $38,000. Finally, Versant Capital Management Inc increased its holdings in shares of Arch Capital Group by 40.3% in the 2nd quarter. Versant Capital Management Inc now owns 456 shares of the insurance provider’s stock valued at $46,000 after purchasing an additional 131 shares in the last quarter. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on ACGL. Citigroup raised their target price on shares of Arch Capital Group from $105.00 to $114.00 and gave the company a “neutral” rating in a report on Tuesday, September 10th. TD Cowen raised their target price on shares of Arch Capital Group from $116.00 to $138.00 and gave the company a “buy” rating in a report on Friday, September 20th. JPMorgan Chase & Co. raised their target price on shares of Arch Capital Group from $108.00 to $110.00 and gave the company a “neutral” rating in a report on Thursday, October 10th. Royal Bank of Canada decreased their price target on shares of Arch Capital Group from $128.00 to $125.00 and set an “outperform” rating on the stock in a research note on Friday. Finally, Keefe, Bruyette & Woods raised their price target on shares of Arch Capital Group from $120.00 to $121.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 7th. Five analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $120.40.

Arch Capital Group Trading Down 2.6 %

ACGL stock traded down $2.54 during midday trading on Friday, reaching $96.02. 4,006,539 shares of the company’s stock traded hands, compared to its average volume of 1,976,139. The company has a market capitalization of $36.11 billion, a P/E ratio of 6.44, a PEG ratio of 1.83 and a beta of 0.61. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.58 and a quick ratio of 0.60. Arch Capital Group Ltd. has a fifty-two week low of $72.85 and a fifty-two week high of $116.47. The business has a 50-day moving average price of $110.43 and a two-hundred day moving average price of $102.70.

Arch Capital Group (NASDAQ:ACGL) last posted its quarterly earnings data on Wednesday, October 30th. The insurance provider reported $1.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.94 by $0.05. The company had revenue of $4.72 billion for the quarter, compared to analyst estimates of $4.05 billion. Arch Capital Group had a net margin of 33.86% and a return on equity of 18.94%. During the same quarter last year, the firm posted $2.31 earnings per share. Equities research analysts forecast that Arch Capital Group Ltd. will post 9.05 EPS for the current fiscal year.

Insider Activity

In related news, CFO Francois Morin sold 11,460 shares of Arch Capital Group stock in a transaction on Friday, August 16th. The shares were sold at an average price of $102.46, for a total value of $1,174,191.60. Following the completion of the sale, the chief financial officer now owns 221,779 shares in the company, valued at approximately $22,723,476.34. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 4.20% of the company’s stock.

Arch Capital Group Company 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.