Bank of New York Mellon Corp Decreases Holdings in Arch Capital Group Ltd. (NASDAQ:ACGL)

Bank of New York Mellon Corp lessened its stake in shares of Arch Capital Group Ltd. (NASDAQ:ACGL - Free Report) by 2.2% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,171,694 shares of the insurance provider's stock after selling 48,086 shares during the quarter. Bank of New York Mellon Corp owned about 0.58% of Arch Capital Group worth $208,873,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in ACGL. Vanguard Group Inc. lifted its position in Arch Capital Group by 0.4% during the fourth quarter. Vanguard Group Inc. now owns 41,999,603 shares of the insurance provider's stock valued at $3,878,663,000 after purchasing an additional 182,150 shares in the last quarter. Geode Capital Management LLC increased its holdings in Arch Capital Group by 1.7% in the 4th quarter. Geode Capital Management LLC now owns 11,010,756 shares of the insurance provider's stock worth $1,014,648,000 after acquiring an additional 180,493 shares in the last quarter. Nuveen Asset Management LLC increased its holdings in Arch Capital Group by 1.9% in the 4th quarter. Nuveen Asset Management LLC now owns 4,888,997 shares of the insurance provider's stock worth $451,499,000 after acquiring an additional 93,226 shares in the last quarter. Northern Trust Corp increased its holdings in Arch Capital Group by 11.3% in the 4th quarter. Northern Trust Corp now owns 4,860,804 shares of the insurance provider's stock worth $448,895,000 after acquiring an additional 495,262 shares in the last quarter. Finally, Norges Bank purchased a new stake in Arch Capital Group in the 4th quarter worth approximately $437,291,000. Hedge funds and other institutional investors own 89.07% of the company's stock.

Arch Capital Group Stock Down 0.8%

Shares of ACGL stock traded down $0.72 during mid-day trading on Friday, hitting $87.84. 1,943,647 shares of the stock traded hands, compared to its average volume of 1,738,028. The stock has a market cap of $32.92 billion, a P/E ratio of 9.00, a P/E/G ratio of 6.12 and a beta of 0.51. The stock's fifty day moving average is $91.96 and its two-hundred day moving average is $92.02. Arch Capital Group Ltd. has a 52-week low of $82.49 and a 52-week high of $116.47. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.56 and a quick ratio of 0.56.

Arch Capital Group (NASDAQ:ACGL - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The insurance provider reported $1.54 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.59 by ($0.05). The firm had revenue of $4.52 billion during the quarter, compared to analysts' expectations of $4.75 billion. Arch Capital Group had a return on equity of 15.79% and a net margin of 20.72%. Arch Capital Group's revenue for the quarter was up 10.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.45 earnings per share. Equities analysts predict that Arch Capital Group Ltd. will post 8.42 EPS for the current year.

Insider Activity at Arch Capital Group

In related news, insider Louis T. Petrillo sold 16,650 shares of the company's stock in a transaction that occurred on Friday, May 9th. The stock was sold at an average price of $94.53, for a total value of $1,573,924.50. Following the sale, the insider owned 140,023 shares in the company, valued at $13,236,374.19. This represents a 10.63% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Nicolas Papadopoulo sold 7,636 shares of the firm's stock in a transaction on Friday, May 2nd. The stock was sold at an average price of $92.48, for a total transaction of $706,177.28. Following the transaction, the chief executive officer directly owned 795,718 shares of the company's stock, valued at approximately $73,588,000.64. This trade represents a 0.95% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 111,976 shares of company stock valued at $10,531,038 over the last 90 days. Company insiders own 4.20% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. JMP Securities reissued a "market outperform" rating and issued a $125.00 target price on shares of Arch Capital Group in a report on Wednesday, April 30th. Jefferies Financial Group cut shares of Arch Capital Group from a "buy" rating to a "hold" rating and lowered their target price for the company from $106.00 to $100.00 in a research note on Tuesday, June 10th. Barclays lowered their target price on shares of Arch Capital Group from $100.00 to $93.00 and set an "equal weight" rating on the stock in a research note on Friday, April 11th. Keefe, Bruyette & Woods reiterated a "market perform" rating and set a $101.00 target price (down previously from $113.00) on shares of Arch Capital Group in a research report on Wednesday. Finally, UBS Group increased their target price on Arch Capital Group to $124.00 and gave the stock a "buy" rating in a research report on Thursday, June 12th. Eight equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $113.60.

Arch Capital Group Profile

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.