Arch Capital Group Ltd. (NASDAQ:ACGL) Shares Sold by Bank of America Corp DE

Bank of America Corp DE reduced its holdings in Arch Capital Group Ltd. (NASDAQ:ACGL) by 0.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,351,069 shares of the insurance provider’s stock after selling 12,668 shares during the quarter. Bank of America Corp DE owned about 0.62% of Arch Capital Group worth $217,121,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of ACGL. Cullen Frost Bankers Inc. acquired a new stake in Arch Capital Group in the fourth quarter valued at $37,000. Golden State Wealth Management LLC acquired a new stake in shares of Arch Capital Group in the fourth quarter valued at about $42,000. Y.D. More Investments Ltd boosted its holdings in Arch Capital Group by 125.6% during the fourth quarter. Y.D. More Investments Ltd now owns 467 shares of the insurance provider’s stock worth $43,000 after buying an additional 260 shares in the last quarter. Quarry LP acquired a new position in Arch Capital Group during the fourth quarter worth about $58,000. Finally, UMB Bank n.a. grew its position in Arch Capital Group by 97.0% during the fourth quarter. UMB Bank n.a. now owns 841 shares of the insurance provider’s stock worth $78,000 after buying an additional 414 shares during the period. 89.07% of the stock is currently owned by hedge funds and other institutional investors.

Arch Capital Group Trading Up 2.0 %

NASDAQ ACGL opened at $94.56 on Friday. The company has a market cap of $35.53 billion, a P/E ratio of 8.44, a P/E/G ratio of 2.31 and a beta of 0.57. Arch Capital Group Ltd. has a 12 month low of $82.49 and a 12 month high of $116.47. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.54 and a quick ratio of 0.58. The company has a 50-day moving average of $92.16 and a 200-day moving average of $94.10.

Arch Capital Group (NASDAQ:ACGL) last issued its quarterly earnings results on Tuesday, April 29th. The insurance provider reported $1.54 EPS for the quarter, missing the consensus estimate of $1.59 by ($0.05). The company had revenue of $4.52 billion for the quarter, compared to analyst estimates of $4.75 billion. Arch Capital Group had a return on equity of 17.96% and a net margin of 24.73%. The business’s revenue for the quarter was up 10.5% on a year-over-year basis. During the same period last year, the company posted $2.45 EPS. As a group, equities analysts predict that Arch Capital Group Ltd. will post 8.42 earnings per share for the current year.

Insider Activity at Arch Capital Group

In other Arch Capital Group news, CEO Nicolas Papadopoulo sold 7,636 shares of Arch Capital Group stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $92.48, for a total transaction of $706,177.28. Following the transaction, the chief executive officer now directly owns 795,718 shares of the company’s stock, valued at $73,588,000.64. The trade was a 0.95 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Louis T. Petrillo sold 11,600 shares of the stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $91.00, for a total transaction of $1,055,600.00. Following the completion of the sale, the insider now directly owns 140,023 shares of the company’s stock, valued at $12,742,093. The trade was a 7.65 % decrease in their position. The disclosure for this sale can be found here. 4.20% of the stock is owned by insiders.

Analyst Ratings Changes

Several brokerages have recently commented on ACGL. Barclays decreased their price target on 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. Royal Bank of Canada decreased their target price on Arch Capital Group from $125.00 to $110.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 12th. Wells Fargo & Company raised their price target on Arch Capital Group from $106.00 to $108.00 and gave the company an “overweight” rating in a research report on Thursday, May 1st. UBS Group lowered their price objective on shares of Arch Capital Group from $127.00 to $124.00 and set a “buy” rating on the stock in a research note on Wednesday, April 9th. Finally, Keefe, Bruyette & Woods lifted their target price on shares of Arch Capital Group from $104.00 to $113.00 and gave the stock an “outperform” rating in a research report on Tuesday. Six equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, Arch Capital Group has an average rating of “Moderate Buy” and a consensus price target of $115.00.

Arch Capital Group Company 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.