PNC Financial Services Group Inc. Decreases Stock Position in Arch Capital Group Ltd. (NASDAQ:ACGL)

PNC Financial Services Group Inc. cut its holdings in Arch Capital Group Ltd. (NASDAQ:ACGL) by 2.5% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 61,880 shares of the insurance provider’s stock after selling 1,579 shares during the period. PNC Financial Services Group Inc.’s holdings in Arch Capital Group were worth $4,596,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Harbor Capital Advisors Inc. boosted its position in shares of Arch Capital Group by 2.7% in the 4th quarter. Harbor Capital Advisors Inc. now owns 5,448 shares of the insurance provider’s stock worth $405,000 after buying an additional 144 shares in the last quarter. SRS Capital Advisors Inc. boosted its position in shares of Arch Capital Group by 15.2% in the 3rd quarter. SRS Capital Advisors Inc. now owns 1,107 shares of the insurance provider’s stock worth $88,000 after buying an additional 146 shares in the last quarter. Chase Investment Counsel Corp boosted its position in shares of Arch Capital Group by 0.4% in the 4th quarter. Chase Investment Counsel Corp now owns 39,656 shares of the insurance provider’s stock worth $2,945,000 after buying an additional 148 shares in the last quarter. Legacy Wealth Asset Management LLC boosted its position in shares of Arch Capital Group by 2.2% in the 4th quarter. Legacy Wealth Asset Management LLC now owns 6,985 shares of the insurance provider’s stock worth $519,000 after buying an additional 149 shares in the last quarter. Finally, Balentine LLC boosted its position in shares of Arch Capital Group by 2.8% in the 4th quarter. Balentine LLC now owns 5,527 shares of the insurance provider’s stock worth $410,000 after buying an additional 149 shares in the last quarter. 89.07% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

ACGL has been the topic of a number of recent research reports. JPMorgan Chase & Co. upped their target price on shares of Arch Capital Group from $88.00 to $92.00 and gave the company a “neutral” rating in a report on Monday, April 8th. Deutsche Bank Aktiengesellschaft upped their target price on shares of Arch Capital Group from $103.00 to $110.00 and gave the company a “buy” rating in a report on Tuesday, April 30th. Roth Mkm restated a “buy” rating and issued a $110.00 target price on shares of Arch Capital Group in a report on Tuesday, April 30th. Morgan Stanley upped their target price on shares of Arch Capital Group from $104.00 to $109.00 and gave the company an “overweight” rating in a report on Monday, April 15th. Finally, StockNews.com upgraded shares of Arch Capital Group from a “hold” rating to a “buy” rating in a report on Sunday, June 2nd. Four analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $101.33.

Insider Buying and Selling at Arch Capital Group

In related news, CEO David Gansberg sold 10,000 shares of Arch Capital Group stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $96.64, for a total transaction of $966,400.00. Following the sale, the chief executive officer now directly owns 228,035 shares in the company, valued at $22,037,302.40. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 4.00% of the stock is currently owned by company insiders.

Arch Capital Group Stock Up 1.6 %

ACGL stock opened at $100.80 on Wednesday. Arch Capital Group Ltd. has a twelve month low of $70.19 and a twelve month high of $103.79. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 0.17. The company has a market capitalization of $37.85 billion, a P/E ratio of 7.96, a PEG ratio of 1.70 and a beta of 0.60. The firm has a 50 day simple moving average of $97.23 and a 200-day simple moving average of $88.15.

Arch Capital Group (NASDAQ:ACGL) last announced its quarterly earnings data on Monday, April 29th. The insurance provider reported $2.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.06 by $0.39. Arch Capital Group had a return on equity of 21.85% and a net margin of 33.65%. The firm had revenue of $4.09 billion for the quarter, compared to analysts’ expectations of $3.77 billion. During the same period last year, the business posted $1.73 earnings per share. The firm’s revenue for the quarter was up 19.3% on a year-over-year basis. On average, equities research analysts predict that Arch Capital Group Ltd. will post 8.55 earnings per share for the current fiscal year.

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.