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

Pitcairn Co. cut its holdings in Arch Capital Group Ltd. (NASDAQ:ACGL) by 3.5% during the first quarter, according to the company in its most recent Form 13F filing with the 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.

Several other institutional investors and hedge funds also recently made changes to their positions in ACGL. Bessemer Group Inc. boosted its position in shares of Arch Capital Group by 4.0% in the 1st quarter. Bessemer Group Inc. now owns 35,874 shares of the insurance provider’s stock worth $3,317,000 after purchasing an additional 1,390 shares during the last quarter. Atlanta Consulting Group Advisors LLC bought a new position in Arch Capital Group during the first quarter worth about $233,000. UniSuper Management Pty Ltd grew its position in shares of Arch Capital Group by 346.9% during the 1st 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 bought a new stake in shares of Arch Capital Group in the 1st quarter valued at about $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 valued at $2,158,000 after acquiring an additional 1,117 shares during the period. Institutional investors own 89.07% of the company’s stock.

Insider Activity

In related news, CEO David Gansberg sold 10,000 shares of the stock in a transaction on Monday, May 6th. The stock was sold at an average price of $96.64, for a total value of $966,400.00. Following the sale, the chief executive officer now owns 228,035 shares in the company, valued at approximately $22,037,302.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 4.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on ACGL shares. JMP Securities boosted their price target on shares of Arch Capital Group from $100.00 to $110.00 and gave the company a “market outperform” rating in a report on Tuesday, April 30th. Morgan Stanley lifted their price target on shares of Arch Capital Group from $104.00 to $109.00 and gave the company an “overweight” rating in a research note on Monday, April 15th. Wells Fargo & Company increased their price objective on shares of Arch Capital Group from $109.00 to $110.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 1st. Evercore ISI boosted their price target on Arch Capital Group from $98.00 to $100.00 and gave the company an “in-line” rating in a report on Tuesday, April 30th. Finally, StockNews.com upgraded Arch Capital Group from a “hold” rating to a “buy” rating in a research note on Thursday, July 4th. Four investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $102.87.

Arch Capital Group Stock Performance

NASDAQ ACGL traded down $1.94 on Thursday, hitting $94.47. 1,366,759 shares of the stock were exchanged, 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 P/E/G 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. The business’s fifty day moving average is $99.76 and its 200 day moving average is $92.27. Arch Capital Group Ltd. has a 52 week low of $72.85 and a 52 week high of $103.79.

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, beating analysts’ consensus estimates of $2.06 by $0.39. Arch Capital Group had a net margin of 33.65% and a return on equity of 21.85%. The company had revenue of $4.09 billion for the quarter, compared to analysts’ expectations of $3.77 billion. During the same period in the prior year, the firm earned $1.73 EPS. Arch Capital Group’s quarterly revenue was up 19.3% compared to the same quarter last year. Research analysts anticipate that Arch Capital Group Ltd. will post 8.59 EPS for the current fiscal year.

Arch Capital Group 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.