M&T Bank Corp Cuts Holdings in Arch Capital Group Ltd. $ACGL

Key Points

• M&T Bank Corp cut its stake in Arch Capital Group by 47.1% in Q4, holding 35,115 shares worth about $3.37 million after selling 31,212 shares.
• Insiders have been net sellers recently — including the CEO’s sale of 21,930 shares — with 78,267 insider-shares sold (~$7.29M) over the last three months, while institutional ownership stands at about 89.07%.
• Arch reported a strong quarter (EPS $2.98 vs. $2.34 consensus; revenue $4.93B vs. $3.94B estimate), but analysts remain mixed: average rating "Hold" with an average price target of $108.93 (9 Buy, 8 Hold, 1 Sell).

M&T Bank Corp reduced its position in Arch Capital Group Ltd. (NASDAQ:ACGL - Free Report) by 47.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 35,115 shares of the insurance provider's stock after selling 31,212 shares during the quarter. M&T Bank Corp's holdings in Arch Capital Group were worth $3,368,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of ACGL. Geneos Wealth Management Inc. grew its holdings in Arch Capital Group by 157.9% in the first quarter. Geneos Wealth Management Inc. now owns 673 shares of the insurance provider's stock worth $65,000 after purchasing an additional 412 shares during the last quarter. Sivia Capital Partners LLC purchased a new position in Arch Capital Group in the second quarter worth $253,000. CW Advisors LLC grew its holdings in Arch Capital Group by 6.5% in the second quarter. CW Advisors LLC now owns 3,098 shares of the insurance provider's stock worth $282,000 after purchasing an additional 189 shares during the last quarter. Jump Financial LLC purchased a new position in Arch Capital Group in the second quarter worth $667,000. Finally, Cerity Partners LLC grew its holdings in Arch Capital Group by 11.6% in the second quarter. Cerity Partners LLC now owns 47,486 shares of the insurance provider's stock worth $4,324,000 after purchasing an additional 4,933 shares during the last quarter. 89.07% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have issued reports on ACGL shares. Cantor Fitzgerald reaffirmed a "neutral" rating and issued a $100.00 price target (up from $97.00) on shares of Arch Capital Group in a report on Tuesday, February 17th. Weiss Ratings raised shares of Arch Capital Group from a "hold (c+)" rating to a "buy (b-)" rating in a report on Wednesday, February 4th. Wells Fargo & Company lifted their price target on shares of Arch Capital Group from $106.00 to $109.00 and gave the stock an "overweight" rating in a report on Wednesday, February 11th. JPMorgan Chase & Co. cut their price target on shares of Arch Capital Group from $117.00 to $110.00 and set a "neutral" rating on the stock in a report on Monday, April 20th. Finally, Citigroup reaffirmed a "buy" rating and issued a $120.00 price target (up from $113.00) on shares of Arch Capital Group in a report on Friday, February 13th. Nine 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 company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $108.93.

Insider Activity at Arch Capital Group

In other news, CEO Nicolas Papadopoulo sold 21,930 shares of the business's stock in a transaction on Tuesday, March 10th. The shares were sold at an average price of $96.31, for a total transaction of $2,112,078.30. Following the sale, the chief executive officer directly owned 871,594 shares of the company's stock, valued at $83,943,218.14. The trade was a 2.45% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Brian S. Posner sold 3,000 shares of the business's stock in a transaction on Wednesday, March 11th. The shares were sold at an average price of $17.11, for a total transaction of $51,330.00. Following the sale, the director directly owned 2,000 shares in the company, valued at $34,220. This trade represents a 60.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 78,267 shares of company stock valued at $7,291,637 over the last three months. 3.30% of the stock is owned by corporate insiders.

Arch Capital Group Price Performance

Shares of ACGL opened at $96.35 on Tuesday. The firm has a market capitalization of $34.33 billion, a PE ratio of 8.29, a price-to-earnings-growth ratio of 4.79 and a beta of 0.41. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.53 and a quick ratio of 0.53. Arch Capital Group Ltd. has a 1-year low of $82.44 and a 1-year high of $103.39. The company's fifty day moving average price is $96.60 and its 200-day moving average price is $94.18.

Arch Capital Group (NASDAQ:ACGL - Get Free Report) last announced its quarterly earnings data on Monday, February 9th. The insurance provider reported $2.98 earnings per share for the quarter, beating analysts' consensus estimates of $2.34 by $0.64. The firm had revenue of $4.93 billion for the quarter, compared to analyst estimates 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 period in the previous year, the company earned $2.26 earnings per share. On average, equities research analysts predict that Arch Capital Group Ltd. will post 9.34 EPS for the current year.

Arch Capital Group Company 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.

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