Bank of New York Mellon Corp Trims Stock Holdings in Arch Capital Group Ltd. $ACGL

Bank of New York Mellon Corp reduced its holdings in Arch Capital Group Ltd. (NASDAQ:ACGL) by 0.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,875,743 shares of the insurance provider’s stock after selling 12,199 shares during the period. Bank of New York Mellon Corp’s holdings in Arch Capital Group were worth $170,186,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in ACGL. Geneos Wealth Management Inc. raised its holdings in Arch Capital Group by 157.9% in the 1st 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 period. Sivia Capital Partners LLC purchased a new stake in shares of Arch Capital Group in the 2nd quarter valued at approximately $253,000. HB Wealth Management LLC increased its position in shares of Arch Capital Group by 3.6% during the 2nd quarter. HB Wealth Management LLC now owns 12,931 shares of the insurance provider’s stock worth $1,177,000 after purchasing an additional 450 shares during the last quarter. Greenleaf Trust lifted its stake in Arch Capital Group by 4.2% during the second quarter. Greenleaf Trust now owns 3,082 shares of the insurance provider’s stock worth $281,000 after purchasing an additional 125 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. boosted its stake in shares of Arch Capital Group by 10.1% in the second quarter. Robeco Institutional Asset Management B.V. now owns 516,636 shares of the insurance provider’s stock valued at $47,040,000 after purchasing an additional 47,435 shares during the period. 89.07% of the stock is currently owned by institutional investors and hedge funds.

Arch Capital Group Stock Performance

Shares of Arch Capital Group stock opened at $96.04 on Friday. Arch Capital Group Ltd. has a 1 year low of $82.44 and a 1 year high of $97.60. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.55 and a current ratio of 0.55. The firm has a market cap of $34.83 billion, a PE ratio of 8.98, a price-to-earnings-growth ratio of 2.01 and a beta of 0.45. The firm’s 50-day simple moving average is $93.95 and its 200-day simple moving average is $91.15.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on ACGL. Morgan Stanley set a $125.00 price target on Arch Capital Group in a research report on Friday, January 16th. Mizuho set a $95.00 price target on shares of Arch Capital Group and gave the stock a “neutral” rating in a research note on Monday, December 15th. JPMorgan Chase & Co. upped their price target on Arch Capital Group from $111.00 to $117.00 and gave the stock a “neutral” rating in a report on Wednesday, January 7th. Wells Fargo & Company decreased their price target on shares of Arch Capital Group from $111.00 to $106.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 29th. Finally, Royal Bank Of Canada set a $108.00 price objective on shares of Arch Capital Group and gave the company an “outperform” rating in a research note on Monday, November 24th. Eight analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Arch Capital Group presently has an average rating of “Hold” and a consensus price target of $107.53.

Insider Activity

In other Arch Capital Group news, CFO Francois Morin sold 8,000 shares of the business’s stock in a transaction dated Friday, November 28th. The shares were sold at an average price of $94.62, for a total transaction of $756,960.00. Following the completion of the transaction, the chief financial officer directly owned 266,681 shares of the company’s stock, valued at $25,233,356.22. The trade was a 2.91% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider John M. Pasquesi sold 203,866 shares of the stock in a transaction that occurred on Friday, December 12th. The stock was sold at an average price of $93.90, for a total value of $19,143,017.40. Following the completion of the transaction, the insider directly owned 351,356 shares of the company’s stock, valued at $32,992,328.40. This trade represents a 36.72% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 220,666 shares of company stock valued at $20,728,673 over the last ninety days. Company insiders own 4.20% of the company’s stock.

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.