VELA Investment Management LLC Grows Position in Arch Capital Group Ltd. (NASDAQ:ACGL)

VELA Investment Management LLC increased its position in shares of Arch Capital Group Ltd. (NASDAQ:ACGL) by 14.7% during the fourth quarter, Holdings Channel reports. The institutional investor owned 49,298 shares of the insurance provider’s stock after buying an additional 6,333 shares during the quarter. Arch Capital Group comprises about 1.3% of VELA Investment Management LLC’s portfolio, making the stock its 14th largest holding. VELA Investment Management LLC’s holdings in Arch Capital Group were worth $4,553,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in ACGL. State Street Corp increased its stake in Arch Capital Group by 1.1% in the third quarter. State Street Corp now owns 16,587,446 shares of the insurance provider’s stock valued at $1,855,803,000 after purchasing an additional 172,628 shares during the last quarter. Geode Capital Management LLC increased its stake in Arch Capital Group by 2.4% in the third quarter. Geode Capital Management LLC now owns 10,830,263 shares of the insurance provider’s stock valued at $1,208,307,000 after purchasing an additional 253,648 shares during the last quarter. Principal Financial Group Inc. increased its stake in Arch Capital Group by 10.5% in the fourth quarter. Principal Financial Group Inc. now owns 8,222,244 shares of the insurance provider’s stock valued at $759,324,000 after purchasing an additional 783,506 shares during the last quarter. Allspring Global Investments Holdings LLC increased its stake in Arch Capital Group by 4.4% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 5,350,868 shares of the insurance provider’s stock valued at $488,992,000 after purchasing an additional 226,617 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Arch Capital Group by 245.1% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,053,739 shares of the insurance provider’s stock valued at $341,652,000 after purchasing an additional 2,168,897 shares during the last quarter. 89.07% of the stock is currently owned by hedge funds and other institutional investors.

Arch Capital Group Price Performance

Shares of NASDAQ ACGL opened at $92.10 on Friday. 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 $92.00 and a 200 day moving average price of $100.42. Arch Capital Group Ltd. has a 1-year low of $86.41 and a 1-year high of $116.47. The company has a market cap of $34.65 billion, a PE ratio of 8.22, a P/E/G ratio of 2.31 and a beta of 0.64.

Arch Capital Group (NASDAQ:ACGL) last released its earnings results on Monday, February 10th. The insurance provider reported $2.26 EPS for the quarter, beating analysts’ consensus estimates of $1.90 by $0.36. Arch Capital Group had a return on equity of 17.96% and a net margin of 24.73%. During the same period in the prior year, the company earned $2.45 earnings per share. Sell-side analysts forecast that Arch Capital Group Ltd. will post 8.42 EPS for the current year.

Analysts Set New Price Targets

Several brokerages have commented on ACGL. Morgan Stanley dropped their price target on shares of Arch Capital Group from $115.00 to $110.00 and set an “overweight” rating on the stock in a research note on Friday, February 14th. Royal Bank of Canada dropped their price target on shares of Arch Capital Group from $125.00 to $110.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 12th. Keefe, Bruyette & Woods dropped their price target on shares of Arch Capital Group from $120.00 to $113.00 and set an “outperform” rating on the stock in a research note on Thursday, February 13th. Wells Fargo & Company decreased their price objective on Arch Capital Group from $107.00 to $106.00 and set an “overweight” rating for the company in a report on Wednesday, February 12th. Finally, JMP Securities reissued a “market outperform” rating and issued a $125.00 price objective on shares of Arch Capital Group in a report on Tuesday, February 11th. Six investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, Arch Capital Group currently has an average rating of “Moderate Buy” and a consensus price target of $117.19.

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.