Arch Capital Group Ltd. $ACGL Stock Holdings Lowered by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. lessened its position in Arch Capital Group Ltd. (NASDAQ:ACGL) by 14.7% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 63,619 shares of the insurance provider’s stock after selling 11,007 shares during the period. PNC Financial Services Group Inc.’s holdings in Arch Capital Group were worth $5,772,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of ACGL. Vanguard Group Inc. grew its position in Arch Capital Group by 1.2% in the 2nd quarter. Vanguard Group Inc. now owns 42,414,557 shares of the insurance provider’s stock worth $3,861,845,000 after purchasing an additional 493,583 shares during the last quarter. Artisan Partners Limited Partnership raised its holdings in shares of Arch Capital Group by 1.7% during the second quarter. Artisan Partners Limited Partnership now owns 23,833,290 shares of the insurance provider’s stock valued at $2,170,021,000 after buying an additional 408,950 shares during the last quarter. WCM Investment Management LLC boosted its position in shares of Arch Capital Group by 1.3% during the third quarter. WCM Investment Management LLC now owns 13,525,402 shares of the insurance provider’s stock worth $1,214,987,000 after buying an additional 171,693 shares during the period. Geode Capital Management LLC grew its holdings in Arch Capital Group by 1.1% in the 2nd quarter. Geode Capital Management LLC now owns 10,502,003 shares of the insurance provider’s stock worth $952,523,000 after buying an additional 115,465 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its position in Arch Capital Group by 4.8% in the 2nd quarter. JPMorgan Chase & Co. now owns 7,830,301 shares of the insurance provider’s stock valued at $712,956,000 after acquiring an additional 359,710 shares during the period. 89.07% of the stock is currently owned by institutional investors.

Arch Capital Group Trading Up 0.3%

Shares of ACGL stock opened at $98.34 on Friday. The stock has a 50-day simple moving average of $95.64 and a 200 day simple moving average of $92.21. The stock has a market capitalization of $35.66 billion, a P/E ratio of 8.46, a P/E/G ratio of 3.92 and a beta of 0.42. Arch Capital Group Ltd. has a fifty-two week low of $82.44 and a fifty-two week high of $103.39. The company has a quick ratio of 0.55, a current ratio of 0.53 and a debt-to-equity ratio of 0.13.

Arch Capital Group (NASDAQ:ACGL) last issued its quarterly earnings results on Monday, February 9th. The insurance provider reported $2.98 earnings per share for the quarter, beating analysts’ consensus estimates of $2.34 by $0.64. Arch Capital Group had a net margin of 22.07% and a return on equity of 16.73%. The company had revenue of $3.80 billion during the quarter, compared to the consensus estimate of $3.94 billion. During the same period in the prior year, the company earned $2.26 EPS. On average, sell-side analysts expect that Arch Capital Group Ltd. will post 8.42 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

ACGL has been the topic of several recent analyst reports. Evercore set a $100.00 target price on Arch Capital Group and gave the company an “in-line” rating in a research note on Wednesday, January 7th. UBS Group restated a “buy” rating and set a $114.00 price objective (up from $113.00) on shares of Arch Capital Group in a research note on Tuesday. Barclays set a $104.00 price objective on shares of Arch Capital Group and gave the stock an “equal weight” rating in a report on Thursday, January 8th. Wells Fargo & Company raised their target price on shares of Arch Capital Group from $106.00 to $109.00 and gave the company an “overweight” rating in a research note on Wednesday, February 11th. Finally, Royal Bank Of Canada boosted their price target on shares of Arch Capital Group from $108.00 to $115.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 11th. Nine investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $109.20.

Insider Buying and Selling

In related news, insider John M. Pasquesi sold 8,800 shares of the stock in a transaction that occurred on Monday, December 15th. The shares were sold at an average price of $94.17, for a total transaction of $828,696.00. Following the completion of the sale, the insider directly owned 289,556 shares of the company’s stock, valued at $27,267,488.52. This represents a 2.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Francois Morin sold 8,000 shares of Arch Capital Group stock in a transaction that occurred on Friday, November 28th. The stock was sold at an average price of $94.62, for a total transaction of $756,960.00. Following the completion of the transaction, the chief financial officer owned 266,681 shares in the company, valued at approximately $25,233,356.22. This trade represents a 2.91% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 268,096 shares of company stock worth $25,287,645 in the last ninety days. 4.20% of the stock is currently owned by corporate insiders.

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.