Pittenger & Anderson Inc. Purchases New Position in Arch Capital Group Ltd. $ACGL

Pittenger & Anderson Inc. purchased a new stake in Arch Capital Group Ltd. (NASDAQ:ACGL) during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 13,900 shares of the insurance provider’s stock, valued at approximately $1,334,000.

Several other hedge funds have also recently bought and sold shares of the stock. Legal & General Group Plc boosted its holdings in shares of Arch Capital Group by 4.3% in the 4th quarter. Legal & General Group Plc now owns 2,944,169 shares of the insurance provider’s stock worth $282,405,000 after acquiring an additional 121,090 shares in the last quarter. National Pension Service increased its holdings in Arch Capital Group by 8.5% during the 4th quarter. National Pension Service now owns 683,272 shares of the insurance provider’s stock valued at $65,539,000 after purchasing an additional 53,661 shares in the last quarter. Asset Management One Co. Ltd. boosted its stake in Arch Capital Group by 10.6% in the fourth quarter. Asset Management One Co. Ltd. now owns 187,002 shares of the insurance provider’s stock worth $18,024,000 after purchasing an additional 17,923 shares in the last quarter. Robeco Institutional Asset Management B.V. increased its stake in shares of Arch Capital Group by 50.4% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 1,548,042 shares of the insurance provider’s stock valued at $148,488,000 after buying an additional 518,527 shares in the last quarter. Finally, Marshfield Associates lifted its position in Arch Capital Group by 5.5% during the 3rd quarter. Marshfield Associates now owns 2,724,635 shares of the insurance provider’s stock worth $247,206,000 after buying an additional 141,223 shares in the last quarter. 89.07% of the stock is currently owned by institutional investors and hedge funds.

Arch Capital Group Price Performance

Shares of NASDAQ ACGL opened at $101.06 on Monday. Arch Capital Group Ltd. has a 1 year low of $82.44 and a 1 year high of $105.09. The firm’s 50-day moving average is $94.44 and its 200-day moving average is $95.47. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 0.15. The firm has a market capitalization of $35.31 billion, a PE ratio of 7.76, a price-to-earnings-growth ratio of 5.03 and a beta of 0.31.

Arch Capital Group (NASDAQ:ACGL) last posted its quarterly earnings results on Tuesday, March 31st. The insurance provider reported $2.50 earnings per share for the quarter. Arch Capital Group had a net margin of 24.64% and a return on equity of 17.61%. The business had revenue of $4.52 billion during the quarter. Equities analysts expect that Arch Capital Group Ltd. will post 9.34 EPS for the current year.

Insiders Place Their Bets

In other Arch Capital Group news, Director Daniel Joseph Houston bought 5,300 shares of the company’s stock in a transaction on Thursday, April 30th. The stock was bought at an average price of $94.08 per share, for a total transaction of $498,624.00. Following the transaction, the director owned 9,915 shares of the company’s stock, valued at approximately $932,803.20. The trade was a 114.84% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Brian S. Posner sold 3,000 shares of the stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $19.66, for a total value of $58,980.00. Additional details regarding this sale are available in the official SEC disclosure. 3.30% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of brokerages have commented on ACGL. Morgan Stanley increased their price objective on shares of Arch Capital Group from $105.00 to $110.00 and gave the stock an “overweight” rating in a report on Monday, July 6th. Weiss Ratings lowered shares of Arch Capital Group from a “buy (b)” rating to a “buy (b-)” rating in a research report on Monday, May 18th. Wells Fargo & Company increased their price target on shares of Arch Capital Group from $110.00 to $114.00 and gave the company an “overweight” rating in a research note on Thursday. Citigroup raised their price target on shares of Arch Capital Group from $120.00 to $122.50 and gave the company a “buy” rating in a report on Thursday, April 30th. Finally, Mizuho boosted their price objective on shares of Arch Capital Group from $101.00 to $104.00 and gave the stock a “neutral” rating in a research report on Thursday. Eight equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Arch Capital Group has a consensus rating of “Hold” and a consensus target price of $108.12.

Arch Capital Group Company Profile

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.