M&T Bank Corp Sells 5,812 Shares of Arch Capital Group Ltd. (NASDAQ:ACGL)

M&T Bank Corp reduced its position in shares of Arch Capital Group Ltd. (NASDAQ:ACGL - Free Report) by 7.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 73,353 shares of the insurance provider's stock after selling 5,812 shares during the period. M&T Bank Corp's holdings in Arch Capital Group were worth $6,775,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its stake in shares of Arch Capital Group by 3.5% during the 4th quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 197,111 shares of the insurance provider's stock worth $18,203,000 after acquiring an additional 6,663 shares in the last quarter. Nomura Asset Management Co. Ltd. grew its position in Arch Capital Group by 5.3% in the third quarter. Nomura Asset Management Co. Ltd. now owns 111,229 shares of the insurance provider's stock valued at $12,444,000 after purchasing an additional 5,614 shares in the last quarter. PNC Financial Services Group Inc. increased its stake in Arch Capital Group by 10.0% in the 3rd quarter. PNC Financial Services Group Inc. now owns 71,721 shares of the insurance provider's stock valued at $8,024,000 after buying an additional 6,521 shares during the last quarter. Pittenger & Anderson Inc. lifted its position in Arch Capital Group by 56.6% during the 4th quarter. Pittenger & Anderson Inc. now owns 6,720 shares of the insurance provider's stock worth $621,000 after buying an additional 2,430 shares in the last quarter. Finally, Metis Global Partners LLC boosted its stake in shares of Arch Capital Group by 26.6% during the 3rd quarter. Metis Global Partners LLC now owns 25,465 shares of the insurance provider's stock worth $2,849,000 after buying an additional 5,345 shares during the last quarter. 89.07% of the stock is currently owned by institutional investors.

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Analyst Upgrades and Downgrades

Several research firms recently issued reports on ACGL. Keefe, Bruyette & Woods dropped their target price on Arch Capital Group from $120.00 to $113.00 and set an "outperform" rating on the stock in a report on Thursday, February 13th. JPMorgan Chase & Co. decreased their target price on shares of Arch Capital Group from $110.00 to $106.00 and set a "neutral" rating for the company in a research note on Friday, January 3rd. JMP Securities reaffirmed a "market outperform" rating and set a $125.00 price target on shares of Arch Capital Group in a research report on Tuesday, February 11th. Royal Bank of Canada cut their price target on shares of Arch Capital Group from $125.00 to $110.00 and set an "outperform" rating for the company in a research note on Wednesday, February 12th. Finally, UBS Group lowered their price objective on shares of Arch Capital Group from $131.00 to $127.00 and set a "buy" rating on the stock in a research note on Tuesday, February 18th. Six investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $117.19.

Arch Capital Group Stock Performance

NASDAQ:ACGL traded down $0.28 during mid-day trading on Monday, hitting $90.72. 1,856,716 shares of the stock were exchanged, compared to its average volume of 1,914,612. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.58 and a current ratio of 0.54. The firm's 50-day simple moving average is $91.96 and its 200 day simple moving average is $100.01. Arch Capital Group Ltd. has a fifty-two week low of $87.42 and a fifty-two week high of $116.47. The stock has a market capitalization of $34.05 billion, a price-to-earnings ratio of 8.10, a price-to-earnings-growth ratio of 2.31 and a beta of 0.62.

Arch Capital Group (NASDAQ:ACGL - Get Free Report) last posted its earnings results on Monday, February 10th. The insurance provider reported $2.26 earnings per share for the quarter, topping analysts' consensus estimates of $1.90 by $0.36. Arch Capital Group had a return on equity of 17.96% and a net margin of 24.73%. During the same quarter in the prior year, the company earned $2.45 earnings per share. As a group, equities analysts anticipate that Arch Capital Group Ltd. will post 8.42 EPS for the current fiscal year.

Insider Buying and Selling at Arch Capital Group

In other news, insider Louis T. Petrillo sold 11,600 shares of Arch Capital Group stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $91.00, for a total value of $1,055,600.00. Following the completion of the sale, the insider now directly owns 140,023 shares in the company, valued at approximately $12,742,093. The trade was a 7.65 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 4.20% of the company's stock.

About Arch Capital Group

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.