M&T Bank Corp Cuts Holdings in Arch Capital Group Ltd. (NASDAQ:ACGL)

M&T Bank Corp lessened its position in shares of Arch Capital Group Ltd. (NASDAQ:ACGL) by 0.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 79,165 shares of the insurance provider’s stock after selling 611 shares during the period. M&T Bank Corp’s holdings in Arch Capital Group were worth $8,857,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in ACGL. Quantbot Technologies LP acquired a new position in shares of Arch Capital Group in the 3rd quarter valued at about $25,000. UMB Bank n.a. purchased a new stake in Arch Capital Group during the second quarter worth approximately $30,000. Rothschild Investment LLC acquired a new stake in shares of Arch Capital Group in the second quarter worth $35,000. Compagnie Lombard Odier SCmA purchased a new position in shares of Arch Capital Group in the 3rd quarter valued at $46,000. Finally, Asset Dedication LLC lifted its holdings in shares of Arch Capital Group by 188.1% during the 3rd quarter. Asset Dedication LLC now owns 435 shares of the insurance provider’s stock valued at $49,000 after acquiring an additional 284 shares in the last quarter. 89.07% of the stock is currently owned by institutional investors and hedge funds.

Arch Capital Group Trading Up 2.2 %

Shares of NASDAQ ACGL opened at $90.99 on Monday. The stock has a market capitalization of $34.23 billion, a P/E ratio of 6.11, a PEG ratio of 1.49 and a beta of 0.62. The stock’s 50 day moving average price is $99.86 and its two-hundred day moving average price is $102.67. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 0.17. Arch Capital Group Ltd. has a 52-week low of $73.04 and a 52-week high of $116.47.

Arch Capital Group (NASDAQ:ACGL) last announced its quarterly earnings data on Wednesday, October 30th. The insurance provider reported $1.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.94 by $0.05. Arch Capital Group had a return on equity of 18.94% and a net margin of 33.86%. The firm had revenue of $4.72 billion for the quarter, compared to analysts’ expectations of $4.05 billion. During the same period last year, the business posted $2.31 earnings per share. On average, analysts anticipate that Arch Capital Group Ltd. will post 8.99 earnings per share for the current fiscal year.

Arch Capital Group Announces Dividend

The firm also recently declared a special dividend, which was paid on Wednesday, December 4th. Stockholders of record on Monday, November 18th were issued a $5.00 dividend. The ex-dividend date was Monday, November 18th.

Analyst Upgrades and Downgrades

ACGL has been the subject of several recent research reports. StockNews.com downgraded Arch Capital Group from a “buy” rating to a “hold” rating in a report on Thursday, October 24th. JMP Securities raised their target price on Arch Capital Group from $115.00 to $125.00 and gave the company a “market outperform” rating in a report on Tuesday, October 15th. Evercore ISI upped their price target on Arch Capital Group from $104.00 to $107.00 and gave the stock an “in-line” rating in a report on Wednesday, October 9th. Jefferies Financial Group lifted their price objective on shares of Arch Capital Group from $114.00 to $134.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Finally, Wells Fargo & Company decreased their target price on shares of Arch Capital Group from $118.00 to $109.00 and set an “overweight” rating for the company in a research note on Tuesday, November 19th. Six research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Arch Capital Group presently has a consensus rating of “Moderate Buy” and an average price target of $118.38.

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.