Wedge Capital Management L L P NC Sells 3,024 Shares of Arch Capital Group Ltd. (NASDAQ:ACGL)

Wedge Capital Management L L P NC lowered its stake in shares of Arch Capital Group Ltd. (NASDAQ:ACGL - Free Report) by 2.5% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 117,885 shares of the insurance provider's stock after selling 3,024 shares during the quarter. Wedge Capital Management L L P NC's holdings in Arch Capital Group were worth $11,338,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Capital A Wealth Management LLC bought a new stake in shares of Arch Capital Group in the fourth quarter valued at approximately $25,000. Cullen Frost Bankers Inc. bought a new stake in shares of Arch Capital Group in the fourth quarter valued at approximately $37,000. Golden State Wealth Management LLC bought a new stake in shares of Arch Capital Group in the fourth quarter valued at approximately $42,000. Quarry LP bought a new stake in shares of Arch Capital Group in the fourth quarter valued at approximately $58,000. Finally, McIlrath & Eck LLC boosted its position in shares of Arch Capital Group by 165.3% in the fourth quarter. McIlrath & Eck LLC now owns 666 shares of the insurance provider's stock valued at $62,000 after acquiring an additional 415 shares during the period. Institutional investors own 89.07% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Barclays reduced their price objective 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. UBS Group reduced their target price on Arch Capital Group from $127.00 to $124.00 and set a "buy" rating for the company in a research report on Wednesday, April 9th. Jefferies Financial Group raised their target price on Arch Capital Group from $105.00 to $106.00 and gave the stock a "buy" rating in a research report on Friday, April 11th. JPMorgan Chase & Co. raised their target price on Arch Capital Group from $106.00 to $107.00 and gave the stock a "neutral" rating in a research report on Tuesday, April 8th. Finally, Royal Bank of Canada reduced their target price on Arch Capital Group from $125.00 to $110.00 and set an "outperform" rating for the company in a research report on Wednesday, February 12th. Six analysts have rated the stock with a hold rating and eleven have given a buy rating to the company's stock. According to MarketBeat, Arch Capital Group has an average rating of "Moderate Buy" and a consensus target price of $115.00.

Insider Activity

In other news, insider John M. Pasquesi sold 75,060 shares of the firm's stock in a transaction on Monday, May 12th. The stock was sold at an average price of $94.01, for a total value of $7,056,390.60. Following the completion of the sale, the insider now directly owns 579,218 shares in the company, valued at approximately $54,452,284.18. This trade represents a 11.47% decrease in their ownership of the stock. The sale 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 shares were sold at an average price of $92.48, for a total value of $706,177.28. Following the completion of the transaction, the chief executive officer now owns 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. Over the last ninety days, insiders sold 111,976 shares of company stock worth $10,531,038. 4.10% of the stock is owned by corporate insiders.

Arch Capital Group Stock Performance

Arch Capital Group stock opened at $95.53 on Monday. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.54 and a quick ratio of 0.58. The stock has a fifty day moving average price of $92.57 and a two-hundred day moving average price of $92.97. Arch Capital Group Ltd. has a 52-week low of $82.49 and a 52-week high of $116.47. The firm has a market capitalization of $35.80 billion, a P/E ratio of 8.53, a P/E/G ratio of 2.31 and a beta of 0.53.

Arch Capital Group (NASDAQ:ACGL - Get Free Report) last announced its earnings results on Tuesday, April 29th. The insurance provider reported $1.54 earnings per share for the quarter, missing analysts' consensus estimates of $1.59 by ($0.05). Arch Capital Group had a net margin of 24.73% and a return on equity of 17.96%. The business had revenue of $4.52 billion during the quarter, compared to analyst estimates of $4.75 billion. During the same quarter last year, the business posted $2.45 earnings per share. The business's quarterly revenue was up 10.5% compared to the same quarter last year. As a group, analysts anticipate that Arch Capital Group Ltd. will post 8.42 EPS for the current fiscal year.

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.

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