Bank of New York Mellon Corp Sells 113,018 Shares of Arch Capital Group Ltd. $ACGL

Bank of New York Mellon Corp decreased its stake in shares of Arch Capital Group Ltd. (NASDAQ:ACGL) by 6.0% during the fourth quarter, HoldingsChannel reports. The firm owned 1,762,725 shares of the insurance provider’s stock after selling 113,018 shares during the quarter. Bank of New York Mellon Corp’s holdings in Arch Capital Group were worth $169,080,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the stock. Daymark Wealth Partners LLC raised its holdings in Arch Capital Group by 3.4% in the 4th quarter. Daymark Wealth Partners LLC now owns 3,211 shares of the insurance provider’s stock worth $308,000 after acquiring an additional 106 shares during the last quarter. Keel Point LLC raised its holdings in Arch Capital Group by 4.6% in the 3rd quarter. Keel Point LLC now owns 2,524 shares of the insurance provider’s stock worth $229,000 after acquiring an additional 112 shares during the last quarter. Legacy Advisors LLC raised its holdings in Arch Capital Group by 1.2% in the 4th quarter. Legacy Advisors LLC now owns 9,551 shares of the insurance provider’s stock worth $916,000 after acquiring an additional 112 shares during the last quarter. Compound Planning Inc. raised its holdings in Arch Capital Group by 5.0% in the 3rd quarter. Compound Planning Inc. now owns 2,644 shares of the insurance provider’s stock worth $240,000 after acquiring an additional 127 shares during the last quarter. Finally, TD Waterhouse Canada Inc. raised its holdings in Arch Capital Group by 72.7% in the 4th quarter. TD Waterhouse Canada Inc. now owns 323 shares of the insurance provider’s stock worth $31,000 after acquiring an additional 136 shares during the last quarter. Institutional investors own 89.07% of the company’s stock.

Arch Capital Group Trading Up 3.2%

Arch Capital Group stock opened at $91.19 on Friday. The firm has a 50 day moving average of $94.86 and a 200 day moving average of $95.04. The firm has a market capitalization of $31.86 billion, a price-to-earnings ratio of 7.00, a P/E/G ratio of 4.85 and a beta of 0.32. Arch Capital Group Ltd. has a 12-month low of $82.44 and a 12-month high of $103.39. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 0.15.

Arch Capital Group (NASDAQ:ACGL) last released its earnings results on Tuesday, March 31st. The insurance provider reported $2.50 earnings per share (EPS) for the quarter. The company had revenue of $4.52 billion during the quarter. Arch Capital Group had a net margin of 24.64% and a return on equity of 17.61%. As a group, research analysts predict that Arch Capital Group Ltd. will post 9.29 earnings per share for the current year.

Insider Activity at Arch Capital Group

In other Arch Capital Group news, Director Brian S. Posner sold 3,000 shares of the stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $19.66, for a total transaction of $58,980.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Daniel Joseph Houston acquired 5,300 shares of the business’s stock in a transaction on Thursday, April 30th. The shares were bought at an average cost of $94.08 per share, with a total value of $498,624.00. Following the completion of the acquisition, the director owned 9,915 shares in the company, valued at approximately $932,803.20. This represents a 114.84% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last 90 days, insiders sold 35,837 shares of company stock valued at $2,825,926. Corporate insiders own 3.30% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. UBS Group restated a “buy” rating and set a $114.00 target price (up from $113.00) on shares of Arch Capital Group in a research note on Tuesday, February 17th. Royal Bank Of Canada upped their target price on shares of Arch Capital Group from $108.00 to $115.00 and gave the company an “outperform” rating in a research note on Wednesday, February 11th. Barclays upped their target price on shares of Arch Capital Group from $104.00 to $106.00 and gave the company an “equal weight” rating in a research note on Wednesday, April 8th. Morgan Stanley set a $105.00 target price on shares of Arch Capital Group in a research note on Friday, May 1st. Finally, Citigroup upped their target price on shares of Arch Capital Group from $120.00 to $122.50 and gave the company a “buy” rating in a research note on Thursday, April 30th. Eight research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Arch Capital Group currently has an average rating of “Hold” and an average target price of $106.32.

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.