M&T Bank Corp Sells 7,963 Shares of Arch Capital Group Ltd. (NASDAQ:ACGL)

M&T Bank Corp lessened its holdings in Arch Capital Group Ltd. (NASDAQ:ACGL) by 8.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 85,949 shares of the insurance provider’s stock after selling 7,963 shares during the quarter. M&T Bank Corp’s holdings in Arch Capital Group were worth $6,383,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. DekaBank Deutsche Girozentrale increased its position in shares of Arch Capital Group by 6.0% in the third quarter. DekaBank Deutsche Girozentrale now owns 205,548 shares of the insurance provider’s stock valued at $16,756,000 after acquiring an additional 11,594 shares during the period. SG Americas Securities LLC lifted its holdings in Arch Capital Group by 601.1% in the 4th quarter. SG Americas Securities LLC now owns 141,370 shares of the insurance provider’s stock worth $10,500,000 after buying an additional 121,206 shares during the period. Treasurer of the State of North Carolina grew its position in shares of Arch Capital Group by 0.7% in the 3rd quarter. Treasurer of the State of North Carolina now owns 209,153 shares of the insurance provider’s stock worth $16,672,000 after buying an additional 1,504 shares during the last quarter. Millington Financial Advisors LLC purchased a new position in shares of Arch Capital Group during the third quarter valued at approximately $1,030,000. Finally, Wedge Capital Management L L P NC raised its holdings in shares of Arch Capital Group by 28.9% during the fourth quarter. Wedge Capital Management L L P NC now owns 205,698 shares of the insurance provider’s stock valued at $15,277,000 after acquiring an additional 46,089 shares in the last quarter. 89.07% of the stock is owned by institutional investors.

Arch Capital Group Stock Up 2.9 %

Arch Capital Group stock opened at $97.14 on Tuesday. The company has a current ratio of 0.59, a quick ratio of 0.57 and a debt-to-equity ratio of 0.17. Arch Capital Group Ltd. has a 12 month low of $69.05 and a 12 month high of $97.17. The firm has a market cap of $36.44 billion, a price-to-earnings ratio of 7.67, a PEG ratio of 1.12 and a beta of 0.57. The stock has a fifty day simple moving average of $91.35 and a two-hundred day simple moving average of $84.84.

Arch Capital Group (NASDAQ:ACGL) last announced its quarterly earnings results on Monday, April 29th. The insurance provider reported $2.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.06 by $0.39. Arch Capital Group had a net margin of 33.65% and a return on equity of 21.85%. The firm had revenue of $4.09 billion for the quarter, compared to the consensus estimate of $3.77 billion. During the same quarter last year, the firm posted $1.73 EPS. The business’s quarterly revenue was up 19.3% compared to the same quarter last year. Equities analysts predict that Arch Capital Group Ltd. will post 8.43 EPS for the current fiscal year.

Insider Buying and Selling at Arch Capital Group

In other news, CEO Maamoun Rajeh sold 50,000 shares of the firm’s stock in a transaction on Tuesday, March 5th. The stock was 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 approximately $29,408,151.60. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In related news, CEO Maamoun Rajeh sold 50,000 shares of the firm’s stock in a transaction that occurred on 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 owns 336,170 shares of the company’s stock, valued at $29,408,151.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Nicolas Papadopoulo sold 60,000 shares of the company’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $87.52, for a total transaction of $5,251,200.00. Following the sale, the insider now directly owns 651,931 shares of the company’s stock, valued at $57,057,001.12. The disclosure for this sale can be found here. In the last ninety days, insiders sold 135,689 shares of company stock worth $11,872,217. Insiders own 4.00% of the company’s stock.

Analyst Ratings Changes

Several analysts recently weighed in on ACGL shares. Evercore ISI lifted their price target on shares of Arch Capital Group from $98.00 to $100.00 and gave the company an “in-line” rating in a report on Tuesday, April 30th. Roth Mkm reiterated a “buy” rating and set a $110.00 price target on shares of Arch Capital Group in a research report on Tuesday, April 30th. JMP Securities lifted their price objective on Arch Capital Group from $100.00 to $110.00 and gave the company a “market outperform” rating in a research report on Tuesday, April 30th. Bank of America lifted their price target on Arch Capital Group from $105.00 to $109.00 and gave the company a “buy” rating in a research report on Tuesday, April 30th. Finally, Citigroup lowered their price objective on Arch Capital Group from $91.00 to $89.00 and set a “neutral” rating for the company in a research report on Monday, January 22nd. Four investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, Arch Capital Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $100.67.

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.