Pitcairn Co. Sells 136 Shares of Arch Capital Group Ltd. (NASDAQ:ACGL)

Pitcairn Co. reduced its stake in shares of Arch Capital Group Ltd. (NASDAQ:ACGL) by 3.5% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,724 shares of the insurance provider’s stock after selling 136 shares during the quarter. Pitcairn Co.’s holdings in Arch Capital Group were worth $344,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in ACGL. Bessemer Group Inc. grew its stake in shares of Arch Capital Group by 4.0% during the first quarter. Bessemer Group Inc. now owns 35,874 shares of the insurance provider’s stock valued at $3,317,000 after buying an additional 1,390 shares during the last quarter. Atlanta Consulting Group Advisors LLC purchased a new stake in shares of Arch Capital Group in the 1st quarter worth approximately $233,000. UniSuper Management Pty Ltd lifted its holdings in Arch Capital Group by 346.9% during the first quarter. UniSuper Management Pty Ltd now owns 15,365 shares of the insurance provider’s stock worth $1,420,000 after buying an additional 11,927 shares during the period. Alerus Financial NA purchased a new position in shares of Arch Capital Group in the 1st quarter valued at $2,811,000. Finally, Trustmark National Bank Trust Department raised its position in shares of Arch Capital Group by 5.0% in the 1st quarter. Trustmark National Bank Trust Department now owns 23,344 shares of the insurance provider’s stock worth $2,158,000 after acquiring an additional 1,117 shares in the last quarter. 89.07% of the stock is currently owned by hedge funds and other institutional investors.

Arch Capital Group Price Performance

NASDAQ ACGL traded down $1.94 during trading hours on Thursday, hitting $94.47. 1,366,759 shares of the company’s stock traded hands, compared to its average volume of 1,671,361. The company has a market capitalization of $35.47 billion, a PE ratio of 7.54, a PEG ratio of 1.60 and a beta of 0.58. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.59 and a quick ratio of 0.59. Arch Capital Group Ltd. has a 52-week low of $72.85 and a 52-week high of $103.79. The firm’s 50-day moving average is $99.76 and its 200-day moving average is $92.27.

Arch Capital Group (NASDAQ:ACGL) last issued its earnings results on Monday, April 29th. The insurance provider reported $2.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.06 by $0.39. The business had revenue of $4.09 billion during the quarter, compared to the consensus estimate of $3.77 billion. Arch Capital Group had a return on equity of 21.85% and a net margin of 33.65%. The company’s revenue for the quarter was up 19.3% on a year-over-year basis. During the same period last year, the company earned $1.73 EPS. Equities analysts forecast that Arch Capital Group Ltd. will post 8.59 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO David Gansberg sold 10,000 shares of the stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $96.64, for a total value of $966,400.00. Following the completion of the sale, the chief executive officer now owns 228,035 shares of the company’s stock, valued at approximately $22,037,302.40. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 4.20% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

ACGL has been the topic of several analyst reports. StockNews.com upgraded Arch Capital Group from a “hold” rating to a “buy” rating in a research note on Thursday, July 4th. Deutsche Bank Aktiengesellschaft increased their target price on shares of Arch Capital Group from $110.00 to $120.00 and gave the company a “buy” rating in a research report on Monday, July 1st. Evercore ISI raised their target price on shares of Arch Capital Group from $98.00 to $100.00 and gave the company an “in-line” rating in a research note on Tuesday, April 30th. Bank of America lowered their target price on shares of Arch Capital Group from $119.00 to $118.00 and set a “buy” rating for the company in a research note on Thursday, July 11th. Finally, Wells Fargo & Company raised their price target on shares of Arch Capital Group from $109.00 to $110.00 and gave the stock an “overweight” rating in a report on Wednesday, May 1st. Four equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, Arch Capital Group presently has an average rating of “Moderate Buy” and a consensus target price of $102.87.

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.