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

VELA Investment Management LLC raised its position in shares of Arch Capital Group Ltd. (NASDAQ:ACGL - Free Report) by 9.7% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 54,094 shares of the insurance provider's stock after acquiring an additional 4,796 shares during the quarter. Arch Capital Group makes up about 1.6% of VELA Investment Management LLC's holdings, making the stock its 11th largest holding. VELA Investment Management LLC's holdings in Arch Capital Group were worth $5,203,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in ACGL. Wayfinding Financial LLC purchased a new stake in shares of Arch Capital Group in the first quarter valued at approximately $31,000. IFM Investors Pty Ltd grew its position in shares of Arch Capital Group by 9.0% in the first quarter. IFM Investors Pty Ltd now owns 83,450 shares of the insurance provider's stock valued at $8,026,000 after purchasing an additional 6,904 shares in the last quarter. Silver Oak Securities Incorporated grew its position in shares of Arch Capital Group by 19.2% in the first quarter. Silver Oak Securities Incorporated now owns 6,928 shares of the insurance provider's stock valued at $659,000 after purchasing an additional 1,115 shares in the last quarter. Checchi Capital Advisers LLC grew its position in shares of Arch Capital Group by 11.2% in the first quarter. Checchi Capital Advisers LLC now owns 4,613 shares of the insurance provider's stock valued at $444,000 after purchasing an additional 465 shares in the last quarter. Finally, D.A. Davidson & CO. grew its position in shares of Arch Capital Group by 10.9% in the first quarter. D.A. Davidson & CO. now owns 45,552 shares of the insurance provider's stock valued at $4,381,000 after purchasing an additional 4,460 shares in the last quarter. Institutional investors and hedge funds own 89.07% of the company's stock.

Arch Capital Group Stock Performance

Shares of ACGL traded up $0.69 during midday trading on Friday, reaching $89.07. 1,964,531 shares of the stock were exchanged, compared to its average volume of 1,714,709. The business's 50-day moving average price is $92.21 and its 200 day moving average price is $92.09. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.56 and a quick ratio of 0.56. Arch Capital Group Ltd. has a twelve month low of $82.49 and a twelve month high of $116.47. The company has a market capitalization of $33.38 billion, a price-to-earnings ratio of 9.13, a PEG ratio of 6.17 and a beta of 0.51.

Arch Capital Group (NASDAQ:ACGL - Get Free Report) last posted its earnings results on Tuesday, April 29th. The insurance provider reported $1.54 EPS for the quarter, missing analysts' consensus estimates of $1.59 by ($0.05). Arch Capital Group had a return on equity of 15.79% and a net margin of 20.72%. The firm had revenue of $4.52 billion for the quarter, compared to analyst estimates of $4.75 billion. During the same quarter last year, the firm posted $2.45 EPS. The firm's revenue for the quarter was up 10.5% on a year-over-year basis. On average, sell-side analysts expect that Arch Capital Group Ltd. will post 8.42 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Louis T. Petrillo sold 16,650 shares of the firm's stock in a transaction dated Friday, May 9th. The stock was sold at an average price of $94.53, for a total transaction of $1,573,924.50. Following the transaction, the insider owned 140,023 shares of the company's stock, valued at $13,236,374.19. This trade represents a 10.63% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Nicolas Papadopoulo sold 7,636 shares of the firm's stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $92.48, for a total value of $706,177.28. Following the transaction, the chief executive officer directly owned 795,718 shares in the company, valued at approximately $73,588,000.64. This represents a 0.95% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 111,976 shares of company stock worth $10,531,038. Corporate insiders own 4.20% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on ACGL. Jefferies Financial Group lowered Arch Capital Group from a "buy" rating to a "hold" rating and lowered their price objective for the stock from $106.00 to $100.00 in a research report on Tuesday, June 10th. Barclays lowered their price target on Arch Capital Group from $100.00 to $93.00 and set an "equal weight" rating for the company in a research report on Friday, April 11th. Morgan Stanley set a $110.00 price target on Arch Capital Group and gave the stock an "overweight" rating in a research report on Monday, May 19th. JMP Securities reiterated a "market outperform" rating and issued a $125.00 target price on shares of Arch Capital Group in a report on Wednesday, April 30th. Finally, Wells Fargo & Company lifted their target price on Arch Capital Group from $106.00 to $108.00 and gave the company an "overweight" rating in a report on Thursday, May 1st. Seven research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $114.27.

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.