Bank of New York Mellon Corp Has $170.19 Million Stock Holdings in Arch Capital Group Ltd. $ACGL

Bank of New York Mellon Corp reduced its holdings in shares of Arch Capital Group Ltd. (NASDAQ:ACGL) by 0.6% in the third quarter, according to its most recent Form 13F 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 quarter. Bank of New York Mellon Corp owned 0.50% of Arch Capital Group worth $170,186,000 at the end of the most recent reporting period.

Several other institutional investors also recently added to or reduced their stakes in ACGL. Quent Capital LLC purchased a new stake in Arch Capital Group during the third quarter valued at about $37,000. Richardson Financial Services Inc. grew its position in Arch Capital Group by 63.3% during the third quarter. Richardson Financial Services Inc. now owns 418 shares of the insurance provider’s stock valued at $38,000 after acquiring an additional 162 shares during the last quarter. Caitong International Asset Management Co. Ltd grew its stake in shares of Arch Capital Group by 3,450.0% during the second quarter. Caitong International Asset Management Co. Ltd now owns 426 shares of the insurance provider’s stock valued at $39,000 after buying an additional 414 shares during the last quarter. TD Waterhouse Canada Inc. lifted its position in Arch Capital Group by 31.4% in the second quarter. TD Waterhouse Canada Inc. now owns 469 shares of the insurance provider’s stock valued at $43,000 after purchasing an additional 112 shares during the last quarter. Finally, Root Financial Partners LLC purchased a new position in shares of Arch Capital Group in the third quarter valued at about $54,000. Institutional investors own 89.07% of the company’s stock.

Analysts Set New Price Targets

Several analysts have commented on the stock. The Goldman Sachs Group restated a “sell” rating and issued a $93.00 price objective (up from $84.00) on shares of Arch Capital Group in a report on Wednesday, January 7th. Barclays set a $104.00 target price on shares of Arch Capital Group and gave the stock an “equal weight” rating in a report on Thursday, January 8th. Mizuho set a $95.00 price objective on shares of Arch Capital Group and gave the stock a “neutral” rating in a research note on Monday, December 15th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $97.00 price objective (up previously from $93.00) on shares of Arch Capital Group in a research note on Wednesday, January 14th. Finally, Royal Bank Of Canada set a $108.00 price target on Arch Capital Group and gave the stock an “outperform” rating in a research note on Monday, November 24th. Eight equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Arch Capital Group presently has an average rating of “Hold” and a consensus price target of $107.53.

Arch Capital Group Stock Performance

Arch Capital Group stock opened at $96.04 on Friday. The company’s 50-day moving average is $93.95 and its 200 day moving average is $91.15. 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 current ratio of 0.55 and a quick ratio of 0.55. The firm has a market capitalization of $34.83 billion, a P/E ratio of 8.98, a price-to-earnings-growth ratio of 2.01 and a beta of 0.45.

Insider Buying and Selling

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

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.