Arch Capital Group Ltd. (NASDAQ:ACGL) Shares Sold by VELA Investment Management LLC

VELA Investment Management LLC lessened its holdings in Arch Capital Group Ltd. (NASDAQ:ACGL) by 3.7% in the third quarter, HoldingsChannel.com reports. The firm owned 42,965 shares of the insurance provider’s stock after selling 1,662 shares during the period. Arch Capital Group accounts for approximately 1.5% of VELA Investment Management LLC’s investment portfolio, making the stock its 12th biggest 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 hedge funds have also recently added to or reduced their stakes in ACGL. Farther Finance Advisors LLC boosted its holdings in shares of Arch Capital Group by 12.8% during the third quarter. Farther Finance Advisors LLC now owns 890 shares of the insurance provider’s stock valued at $100,000 after acquiring an additional 101 shares during the period. Fiduciary Financial Group LLC boosted its holdings in shares of Arch Capital Group by 2.8% during the third quarter. Fiduciary Financial Group LLC now owns 3,779 shares of the insurance provider’s stock valued at $415,000 after acquiring an additional 103 shares during the period. Baldwin Brothers LLC MA boosted its holdings in shares of Arch Capital Group by 50.7% during the second quarter. Baldwin Brothers LLC MA now owns 309 shares of the insurance provider’s stock valued at $31,000 after acquiring an additional 104 shares during the period. Fidelis Capital Partners LLC boosted its holdings in shares of Arch Capital Group by 3.1% during the second quarter. Fidelis Capital Partners LLC now owns 3,553 shares of the insurance provider’s stock valued at $344,000 after acquiring an additional 106 shares during the period. Finally, Resonant Capital Advisors LLC boosted its holdings in shares of Arch Capital Group by 2.1% during the first quarter. Resonant Capital Advisors LLC now owns 5,802 shares of the insurance provider’s stock valued at $536,000 after acquiring an additional 118 shares during the period. Institutional investors and hedge funds own 89.07% of the company’s stock.

Insider Activity at Arch Capital Group

In other news, CFO Francois Morin sold 11,460 shares of the firm’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $102.46, for a total transaction of $1,174,191.60. Following the transaction, the chief financial officer now owns 221,779 shares in the company, valued at approximately $22,723,476.34. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 4.20% of the company’s stock.

Arch Capital Group Stock Down 2.6 %

Shares of NASDAQ ACGL traded down $2.54 during mid-day trading on Friday, reaching $96.02. The company had a trading volume of 4,006,539 shares, compared to its average volume of 1,976,139. The stock has a fifty day moving average of $110.43 and a two-hundred day moving average of $102.70. Arch Capital Group Ltd. has a 12-month low of $72.85 and a 12-month high of $116.47. The company has a market capitalization of $36.11 billion, a price-to-earnings 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 quick ratio of 0.60 and a current ratio of 0.58.

Arch Capital Group (NASDAQ:ACGL) last posted its quarterly earnings results on Wednesday, October 30th. The insurance provider reported $1.99 earnings per share for the quarter, topping analysts’ consensus estimates of $1.94 by $0.05. Arch Capital Group had a net margin of 33.86% and a return on equity of 18.94%. The business had revenue of $4.72 billion for the quarter, compared to the consensus estimate of $4.05 billion. During the same period in the prior year, the business posted $2.31 earnings per share. As a group, equities research analysts expect that Arch Capital Group Ltd. will post 9.05 EPS for the current year.

Analyst Upgrades and Downgrades

ACGL has been the subject of several research analyst reports. Wells Fargo & Company upped their price objective on shares of Arch Capital Group from $110.00 to $126.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. Barclays initiated coverage on Arch Capital Group in a report on Wednesday, September 4th. They set an “equal weight” rating and a $120.00 target price on the stock. JPMorgan Chase & Co. boosted their price objective on Arch Capital Group from $108.00 to $110.00 and gave the stock a “neutral” rating in a research note on Thursday, October 10th. Evercore ISI raised their target price on Arch Capital Group from $104.00 to $107.00 and gave the company an “in-line” rating in a research note on Wednesday, October 9th. Finally, Bank of America lifted their target price on Arch Capital Group from $119.00 to $135.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Five analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $120.40.

About Arch Capital Group

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.