Arch Capital Group Ltd. $ACGL Shares Sold by Bank of New York Mellon Corp

Key Points

• Bank of New York Mellon trimmed its stake in Arch Capital Group by 2.2% in the first quarter, though it still held 1.72 million shares worth about $165.4 million at quarter-end. Institutional ownership remains high, with hedge funds and other institutions holding 89.07% of the stock.
• Arch Capital Group shares were up 1.3% to $101.35, near the top of their 52-week range. The company has a market cap of $35.41 billion and a relatively low beta of 0.31, suggesting lower volatility than the broader market.
• The insurer reported $2.50 EPS on $4.52 billion in quarterly revenue, and analysts currently have a mixed but cautious stance with a consensus Hold rating and average target price of $109.39. Insider activity was mixed as well, with one director selling shares and another buying more.

Bank of New York Mellon Corp lessened its stake in shares of Arch Capital Group Ltd. (NASDAQ:ACGL - Free Report) by 2.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,723,477 shares of the insurance provider's stock after selling 39,248 shares during the quarter. Bank of New York Mellon Corp owned about 0.48% of Arch Capital Group worth $165,436,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Elyxium Wealth LLC purchased a new position in Arch Capital Group during the 4th quarter worth $27,000. WealthCollab LLC boosted its holdings in shares of Arch Capital Group by 410.3% in the third quarter. WealthCollab LLC now owns 296 shares of the insurance provider's stock valued at $27,000 after acquiring an additional 238 shares in the last quarter. JPL Wealth Management LLC purchased a new stake in shares of Arch Capital Group in the third quarter valued at about $28,000. Aventura Private Wealth LLC acquired a new position in shares of Arch Capital Group during the fourth quarter worth about $30,000. Finally, Grove Bank & Trust acquired a new position in shares of Arch Capital Group during the fourth quarter worth about $30,000. 89.07% of the stock is owned by institutional investors and hedge funds.

Arch Capital Group Stock Up 1.3%

ACGL stock opened at $101.35 on Friday. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 0.15. The company's 50-day moving average price is $95.09 and its 200 day moving average price is $95.63. Arch Capital Group Ltd. has a 52 week low of $82.44 and a 52 week high of $105.09. The company has a market cap of $35.41 billion, a P/E ratio of 7.78, a P/E/G ratio of 5.04 and a beta of 0.31.

Arch Capital Group (NASDAQ:ACGL - Get Free Report) last issued its earnings results on Tuesday, March 31st. The insurance provider reported $2.50 earnings per share (EPS) for the quarter. Arch Capital Group had a net margin of 24.64% and a return on equity of 17.61%. The company had revenue of $4.52 billion during the quarter. On average, research analysts expect that Arch Capital Group Ltd. will post 9.35 earnings per share for the current fiscal year.

Insider Activity at Arch Capital Group

In other news, Director Brian S. Posner sold 3,000 shares of the firm's stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $19.66, for a total value of $58,980.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Daniel Joseph Houston purchased 5,300 shares of the business's stock in a transaction dated Thursday, April 30th. The shares were purchased at an average cost of $94.08 per share, with a total value of $498,624.00. Following the purchase, the director directly owned 9,915 shares in the company, valued at approximately $932,803.20. The trade was a 114.84% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Company insiders own 3.30% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. JPMorgan Chase & Co. cut their price target on shares of Arch Capital Group from $117.00 to $110.00 and set a "neutral" rating for the company in a report on Monday, April 20th. Atlantic Securities set a $126.00 target price on Arch Capital Group in a research report on Wednesday. Mizuho increased their target price on Arch Capital Group from $101.00 to $104.00 and gave the stock a "neutral" rating in a research note on Thursday, July 9th. Cantor Fitzgerald reissued a "neutral" rating and issued a $102.00 price target (up from $100.00) on shares of Arch Capital Group in a report on Thursday, July 9th. Finally, Morgan Stanley raised their price target on Arch Capital Group from $105.00 to $110.00 and gave the company an "overweight" rating in a report on Monday, July 6th. Eight investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Arch Capital Group has an average rating of "Hold" and a consensus target price of $109.39.

About Arch Capital Group

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.

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