Wedge Capital Management L L P NC Has $10.19 Million Position in Arch Capital Group Ltd. $ACGL

Key Points

• Wedge Capital Management L L P NC reduced its stake in Arch Capital Group by 5.1%, owning 111,864 shares worth approximately $10.19 million after selling 6,021 shares in the second quarter.
• Insider Maamoun Rajeh sold 10,000 shares of Arch Capital Group for about $941,500, indicating a 2.25% decrease in their ownership stake.
• Analysts have mixed ratings on Arch Capital Group, with Jefferies downgrading the stock to "hold" and Citi initiating coverage with a "buy" rating, setting a target price of $113.00.

Wedge Capital Management L L P NC lowered its stake in shares of Arch Capital Group Ltd. (NASDAQ:ACGL - Free Report) by 5.1% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 111,864 shares of the insurance provider's stock after selling 6,021 shares during the period. Wedge Capital Management L L P NC's holdings in Arch Capital Group were worth $10,185,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Harbour Investments Inc. lifted its stake in shares of Arch Capital Group by 8.4% in the 1st quarter. Harbour Investments Inc. now owns 1,431 shares of the insurance provider's stock valued at $138,000 after purchasing an additional 111 shares during the last quarter. Resonant Capital Advisors LLC lifted its stake in shares of Arch Capital Group by 1.7% in the 1st quarter. Resonant Capital Advisors LLC now owns 6,672 shares of the insurance provider's stock valued at $642,000 after purchasing an additional 113 shares during the last quarter. Venturi Wealth Management LLC lifted its stake in shares of Arch Capital Group by 0.9% in the 1st quarter. Venturi Wealth Management LLC now owns 13,228 shares of the insurance provider's stock valued at $1,272,000 after purchasing an additional 115 shares during the last quarter. Hemington Wealth Management lifted its stake in shares of Arch Capital Group by 27.7% in the 1st quarter. Hemington Wealth Management now owns 548 shares of the insurance provider's stock valued at $52,000 after purchasing an additional 119 shares during the last quarter. Finally, Horizon Advisory Services Inc. lifted its stake in shares of Arch Capital Group by 4.2% in the 1st quarter. Horizon Advisory Services Inc. now owns 2,996 shares of the insurance provider's stock valued at $288,000 after purchasing an additional 120 shares during the last quarter. Institutional investors and hedge funds own 89.07% of the company's stock.

Arch Capital Group Stock Performance

Shares of NASDAQ:ACGL traded up $0.21 on Tuesday, hitting $88.24. 837,056 shares of the company were exchanged, compared to its average volume of 1,943,387. The company's 50 day moving average price is $89.73 and its two-hundred day moving average price is $91.22. Arch Capital Group Ltd. has a one year low of $82.49 and a one year high of $116.47. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.56 and a current ratio of 0.56. The firm has a market capitalization of $32.93 billion, a price-to-earnings ratio of 9.12, a PEG ratio of 5.41 and a beta of 0.51.

Arch Capital Group (NASDAQ:ACGL - Get Free Report) last posted its quarterly earnings data on Tuesday, July 29th. The insurance provider reported $2.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.30 by $0.28. Arch Capital Group had a net margin of 19.49% and a return on equity of 15.33%. The company had revenue of $4.35 billion for the quarter, compared to the consensus estimate of $4.29 billion. During the same quarter in the previous year, the firm posted $2.57 EPS. Research analysts expect that Arch Capital Group Ltd. will post 8.42 earnings per share for the current year.

Insider Buying and Selling at Arch Capital Group

In other news, insider Maamoun Rajeh sold 10,000 shares of Arch Capital Group stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $94.15, for a total transaction of $941,500.00. Following the sale, the insider directly owned 433,589 shares in the company, valued at approximately $40,822,404.35. The trade was a 2.25% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 4.10% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. UBS Group reaffirmed a "buy" rating and issued a $118.00 price objective (down previously from $124.00) on shares of Arch Capital Group in a research note on Monday, August 4th. Citigroup initiated coverage on shares of Arch Capital Group in a report on Wednesday, August 13th. They issued a "buy" rating and a $113.00 target price on the stock. Keefe, Bruyette & Woods lifted their target price on shares of Arch Capital Group from $102.00 to $103.00 and gave the stock a "market perform" rating in a report on Thursday, August 14th. Cantor Fitzgerald upgraded shares of Arch Capital Group to a "hold" rating in a report on Wednesday, August 13th. Finally, Cowen reiterated a "buy" rating on shares of Arch Capital Group in a report on Monday, August 4th. Eight investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company's stock. According to data from MarketBeat, Arch Capital Group presently has a consensus rating of "Moderate Buy" and an average price target of $109.36.

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.