Bank of America Corp DE Decreases Stock Holdings in Arch Capital Group Ltd. (NASDAQ:ACGL)

Bank of America Corp DE reduced its holdings in Arch Capital Group Ltd. (NASDAQ:ACGL - Free Report) by 0.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 2,351,069 shares of the insurance provider's stock after selling 12,668 shares during the quarter. Bank of America Corp DE owned about 0.62% of Arch Capital Group worth $217,121,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in ACGL. Principal Financial Group Inc. lifted its position in shares of Arch Capital Group by 4.8% during the 3rd quarter. Principal Financial Group Inc. now owns 7,438,738 shares of the insurance provider's stock valued at $832,246,000 after buying an additional 337,786 shares during the last quarter. Nordea Investment Management AB grew its position in shares of Arch Capital Group by 3.1% in the 4th quarter. Nordea Investment Management AB now owns 30,283 shares of the insurance provider's stock worth $2,785,000 after buying an additional 905 shares during the last quarter. Baker Tilly Wealth Management LLC boosted its stake in shares of Arch Capital Group by 7.3% during the 4th quarter. Baker Tilly Wealth Management LLC now owns 3,509 shares of the insurance provider's stock valued at $324,000 after purchasing an additional 240 shares in the last quarter. Harbor Capital Advisors Inc. raised its position in shares of Arch Capital Group by 4.3% in the 4th quarter. Harbor Capital Advisors Inc. now owns 9,258 shares of the insurance provider's stock worth $855,000 after acquiring an additional 380 shares in the last quarter. Finally, Czech National Bank raised its position in shares of Arch Capital Group by 6.5% in the 4th quarter. Czech National Bank now owns 81,247 shares of the insurance provider's stock worth $7,503,000 after acquiring an additional 4,951 shares in the last quarter. 89.07% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Arch Capital Group news, insider Louis T. Petrillo sold 11,600 shares of the stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $91.00, for a total transaction of $1,055,600.00. Following the completion of the transaction, the insider now owns 140,023 shares in the company, valued at $12,742,093. This trade represents a 7.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Nicolas Papadopoulo sold 7,636 shares of the firm's stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $92.48, for a total transaction of $706,177.28. Following the completion of the transaction, the chief executive officer now owns 795,718 shares of the company's stock, valued at $73,588,000.64. This trade represents a 0.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 35,886 shares of company stock valued at $3,335,702 over the last ninety days. 4.20% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. UBS Group reduced their target price on Arch Capital Group from $127.00 to $124.00 and set a "buy" rating for the company in a report on Wednesday, April 9th. JPMorgan Chase & Co. lifted their target price on Arch Capital Group from $106.00 to $107.00 and gave the stock a "neutral" rating in a report on Tuesday, April 8th. JMP Securities restated a "market outperform" rating and issued a $125.00 price target on shares of Arch Capital Group in a research note on Wednesday, April 30th. Morgan Stanley dropped their price target on 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. Finally, Royal Bank of Canada dropped their price target on 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. Six equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $115.00.

Arch Capital Group Trading Up 0.1%

ACGL traded up $0.09 during mid-day trading on Monday, reaching $94.63. The stock had a trading volume of 1,129,244 shares, compared to its average volume of 1,727,140. Arch Capital Group Ltd. has a 52 week low of $82.49 and a 52 week high of $116.47. The stock has a market capitalization of $35.55 billion, a P/E ratio of 8.45, a P/E/G ratio of 2.31 and a beta of 0.57. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.58 and a current ratio of 0.54. The firm's fifty day simple moving average is $92.22 and its two-hundred day simple moving average is $93.83.

Arch Capital Group (NASDAQ:ACGL - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The insurance provider reported $1.54 EPS for the quarter, missing analysts' consensus estimates of $1.59 by ($0.05). The firm had revenue of $4.52 billion during the quarter, compared to the consensus estimate of $4.75 billion. Arch Capital Group had a net margin of 24.73% and a return on equity of 17.96%. The business's revenue was up 10.5% on a year-over-year basis. During the same period last year, the business earned $2.45 EPS. On average, equities analysts predict that Arch Capital Group Ltd. will post 8.42 EPS for the current year.

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.