Arch Capital Group Ltd. $ACGL Shares Sold by M&T Bank Corp

M&T Bank Corp cut its holdings in shares of Arch Capital Group Ltd. (NASDAQ:ACGL) by 47.1% in the fourth quarter, HoldingsChannel reports. The firm owned 35,115 shares of the insurance provider’s stock after selling 31,212 shares during the period. M&T Bank Corp’s holdings in Arch Capital Group were worth $3,368,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Daymark Wealth Partners LLC lifted its position in Arch Capital Group by 3.4% during the fourth quarter. Daymark Wealth Partners LLC now owns 3,211 shares of the insurance provider’s stock valued at $308,000 after purchasing an additional 106 shares during the period. Keel Point LLC lifted its position in Arch Capital Group by 4.6% during the third quarter. Keel Point LLC now owns 2,524 shares of the insurance provider’s stock valued at $229,000 after purchasing an additional 112 shares during the period. Legacy Advisors LLC lifted its position in Arch Capital Group by 1.2% during the fourth quarter. Legacy Advisors LLC now owns 9,551 shares of the insurance provider’s stock valued at $916,000 after purchasing an additional 112 shares during the period. Compound Planning Inc. lifted its position in Arch Capital Group by 5.0% during the third quarter. Compound Planning Inc. now owns 2,644 shares of the insurance provider’s stock valued at $240,000 after purchasing an additional 127 shares during the period. Finally, MassMutual Private Wealth & Trust FSB lifted its position in Arch Capital Group by 14.0% during the third quarter. MassMutual Private Wealth & Trust FSB now owns 1,105 shares of the insurance provider’s stock valued at $100,000 after purchasing an additional 136 shares during the period. 89.07% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Arch Capital Group news, insider David Gansberg sold 5,907 shares of the company’s stock in a transaction dated Tuesday, March 10th. The shares were sold at an average price of $96.37, for a total value of $569,257.59. Following the completion of the transaction, the insider owned 336,559 shares in the company, valued at approximately $32,434,190.83. This represents a 1.72% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Maamoun Rajeh sold 47,430 shares of the company’s stock in a transaction dated Wednesday, February 11th. The stock was sold at an average price of $96.12, for a total transaction of $4,558,971.60. Following the completion of the transaction, the insider owned 433,589 shares of the company’s stock, valued at approximately $41,676,574.68. This trade represents a 9.86% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 78,267 shares of company stock worth $7,291,637. 3.30% of the stock is currently owned by insiders.

Arch Capital Group Trading Up 0.2%

Shares of Arch Capital Group stock opened at $96.35 on Tuesday. The firm has a 50-day simple moving average of $96.60 and a two-hundred day simple moving average of $94.18. The company has a market cap of $34.33 billion, a P/E ratio of 8.29, a price-to-earnings-growth ratio of 4.79 and a beta of 0.41. Arch Capital Group Ltd. has a fifty-two week low of $82.44 and a fifty-two week high of $103.39. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.53 and a current ratio of 0.53.

Arch Capital Group (NASDAQ:ACGL) last issued its quarterly earnings data on Monday, February 9th. The insurance provider reported $2.98 earnings per share for the quarter, topping analysts’ consensus estimates of $2.34 by $0.64. The business had revenue of $4.93 billion during the quarter, compared to the consensus estimate of $3.94 billion. Arch Capital Group had a net margin of 22.07% and a return on equity of 16.73%. During the same quarter in the prior year, the firm posted $2.26 earnings per share. As a group, equities analysts predict that Arch Capital Group Ltd. will post 9.34 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts recently issued reports on ACGL shares. JPMorgan Chase & Co. decreased their target price on shares of Arch Capital Group from $117.00 to $110.00 and set a “neutral” rating for the company in a research report on Monday, April 20th. UBS Group restated a “buy” rating and set a $114.00 target price (up from $113.00) on shares of Arch Capital Group in a research report on Tuesday, February 17th. Mizuho boosted their target price on shares of Arch Capital Group from $95.00 to $102.00 and gave the company a “neutral” rating in a research report on Thursday, February 12th. Keefe, Bruyette & Woods boosted their target price on shares of Arch Capital Group from $104.00 to $105.00 and gave the company a “market perform” rating in a research report on Tuesday, April 7th. Finally, Wells Fargo & Company boosted their target price on shares of Arch Capital Group from $106.00 to $109.00 and gave the company an “overweight” rating in a research report on Wednesday, February 11th. Nine equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Arch Capital Group presently has an average rating of “Hold” and a consensus target price of $108.93.

Arch Capital Group Profile

Arch Capital Group Ltd. (NASDAQ: ACGL) is a Bermuda-based insurance and reinsurance holding company that underwrites a broad range of property and casualty, mortgage, and specialty risk products. The company operates through a group of underwriting subsidiaries and platforms to provide insurance, reinsurance and related risk solutions tailored to commercial, institutional and individual clients.

Arch’s product mix includes treaty and facultative reinsurance, primary casualty and property insurance, mortgage insurance and other specialty lines.