VELA Investment Management LLC Sells 10,228 Shares of Arch Capital Group Ltd. (NASDAQ:ACGL)

VELA Investment Management LLC lowered its position in Arch Capital Group Ltd. (NASDAQ:ACGL - Free Report) by 18.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 45,312 shares of the insurance provider's stock after selling 10,228 shares during the quarter. Arch Capital Group comprises approximately 1.3% of VELA Investment Management LLC's investment portfolio, making the stock its 17th biggest holding. VELA Investment Management LLC's holdings in Arch Capital Group were worth $3,365,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in ACGL. WCM Investment Management LLC acquired a new position in shares of Arch Capital Group during the first quarter valued at approximately $866,650,000. Norges Bank acquired a new position in Arch Capital Group in the 4th quarter worth approximately $207,242,000. Morgan Stanley boosted its stake in Arch Capital Group by 116.3% in the 4th quarter. Morgan Stanley now owns 3,585,197 shares of the insurance provider's stock worth $225,079,000 after purchasing an additional 1,927,830 shares during the period. Envestnet Asset Management Inc. boosted its stake in shares of Arch Capital Group by 112.4% during the 3rd quarter. Envestnet Asset Management Inc. now owns 2,620,807 shares of the insurance provider's stock valued at $208,905,000 after buying an additional 1,387,072 shares during the period. Finally, Goldman Sachs Group Inc. boosted its stake in shares of Arch Capital Group by 49.0% during the 2nd quarter. Goldman Sachs Group Inc. now owns 3,859,630 shares of the insurance provider's stock valued at $288,893,000 after buying an additional 1,269,730 shares during the period. Institutional investors and hedge funds own 89.07% of the company's stock.

Insider Activity

In other Arch Capital Group news, CEO Maamoun Rajeh sold 50,000 shares of the business's stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $87.48, for a total value of $4,374,000.00. Following the transaction, the chief executive officer now directly owns 336,170 shares in the company, valued at $29,408,151.60. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other Arch Capital Group news, CFO Francois Morin sold 25,689 shares of the business's stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $87.47, for a total value of $2,247,016.83. Following the transaction, the chief financial officer now directly owns 221,779 shares in the company, valued at $19,399,009.13. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Maamoun Rajeh sold 50,000 shares of the business's stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $87.48, for a total transaction of $4,374,000.00. Following the completion of the transaction, the chief executive officer now owns 336,170 shares in the company, valued at $29,408,151.60. The disclosure for this sale can be found here. In the last three months, insiders have sold 135,689 shares of company stock worth $11,872,217. Corporate insiders own 4.00% of the company's stock.

Analysts Set New Price Targets

ACGL has been the topic of a number of recent research reports. TD Cowen initiated coverage on shares of Arch Capital Group in a report on Wednesday, January 10th. They set an "outperform" rating and a $96.00 price target on the stock. Evercore ISI lifted their target price on shares of Arch Capital Group from $92.00 to $100.00 and gave the stock an "in-line" rating in a report on Thursday. Citigroup dropped their target price on shares of Arch Capital Group from $91.00 to $89.00 and set a "neutral" rating on the stock in a report on Monday, January 22nd. Royal Bank of Canada reiterated an "outperform" rating and issued a $98.00 target price on shares of Arch Capital Group in a report on Friday, February 16th. Finally, Wells Fargo & Company lifted their target price on shares of Arch Capital Group from $104.00 to $109.00 and gave the stock an "overweight" rating in a report on Thursday. Five investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $96.23.

Arch Capital Group Stock Performance

NASDAQ ACGL traded down $0.22 during midday trading on Monday, hitting $89.76. The company had a trading volume of 1,762,627 shares, compared to its average volume of 1,737,113. The company has a quick ratio of 0.57, a current ratio of 0.57 and a debt-to-equity ratio of 0.17. The firm has a fifty day simple moving average of $88.92 and a two-hundred day simple moving average of $83.71. Arch Capital Group Ltd. has a fifty-two week low of $69.05 and a fifty-two week high of $95.01. The stock has a market cap of $33.67 billion, a price-to-earnings ratio of 7.72, a P/E/G ratio of 1.12 and a beta of 0.57.

Arch Capital Group (NASDAQ:ACGL - Get Free Report) last issued its earnings results on Thursday, February 15th. The insurance provider reported $2.49 earnings per share for the quarter, beating the consensus estimate of $1.94 by $0.55. Arch Capital Group had a net margin of 32.59% and a return on equity of 21.94%. The business had revenue of $3.98 billion for the quarter, compared to analyst estimates of $3.67 billion. During the same period in the previous year, the business earned $2.14 EPS. Equities analysts forecast that Arch Capital Group Ltd. will post 8.02 earnings per share 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.