Pittenger & Anderson Inc. Buys Shares of 2,420 Arch Capital Group Ltd. (NASDAQ:ACGL)

Pittenger & Anderson Inc. acquired a new stake in shares of Arch Capital Group Ltd. (NASDAQ:ACGL) in the 4th quarter, HoldingsChannel.com reports. The fund acquired 2,420 shares of the insurance provider’s stock, valued at approximately $180,000.

Several other large investors also recently made changes to their positions in the business. Tokio Marine Asset Management Co. Ltd. boosted its position in shares of Arch Capital Group by 6.6% during the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 11,504 shares of the insurance provider’s stock valued at $854,000 after purchasing an additional 713 shares in the last quarter. Cognios Beta Neutral Large Cap Fund LP acquired a new position in shares of Arch Capital Group in the fourth quarter worth about $373,000. Alaska Permanent Fund Corp increased its position in shares of Arch Capital Group by 22.3% in the fourth quarter. Alaska Permanent Fund Corp now owns 38,370 shares of the insurance provider’s stock worth $2,850,000 after acquiring an additional 6,994 shares in the last quarter. Millington Financial Advisors LLC increased its position in shares of Arch Capital Group by 2.7% in the fourth quarter. Millington Financial Advisors LLC now owns 13,270 shares of the insurance provider’s stock worth $986,000 after acquiring an additional 351 shares in the last quarter. Finally, GAMMA Investing LLC purchased a new position in shares of Arch Capital Group in the fourth quarter worth approximately $327,000. Institutional investors own 89.07% of the company’s stock.

Arch Capital Group Stock Performance

Shares of Arch Capital Group stock traded down $0.14 on Thursday, reaching $93.05. The stock had a trading volume of 1,180,533 shares, compared to its average volume of 1,698,568. The business’s 50-day moving average price is $90.13 and its two-hundred day moving average price is $84.28. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.57 and a current ratio of 0.57. Arch Capital Group Ltd. has a fifty-two week low of $69.05 and a fifty-two week high of $95.01. The stock has a market cap of $34.91 billion, a P/E ratio of 8.02, a price-to-earnings-growth ratio of 1.17 and a beta of 0.57.

Arch Capital Group (NASDAQ:ACGL) last issued its quarterly earnings data on Thursday, February 15th. The insurance provider reported $2.49 earnings per share for the quarter, topping analysts’ consensus estimates of $1.94 by $0.55. The business had revenue of $3.98 billion during the quarter, compared to analysts’ expectations of $3.67 billion. Arch Capital Group had a net margin of 32.59% and a return on equity of 21.94%. During the same period in the previous year, the company earned $2.14 earnings per share. On average, sell-side analysts forecast that Arch Capital Group Ltd. will post 8.03 EPS for the current year.

Insider Buying and Selling at Arch Capital Group

In other Arch Capital Group news, CFO Francois Morin sold 25,689 shares of the business’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $87.47, for a total value of $2,247,016.83. Following the sale, the chief financial officer now owns 221,779 shares of the company’s stock, valued at approximately $19,399,009.13. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, CFO Francois Morin sold 25,689 shares of the company’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $87.47, for a total value of $2,247,016.83. Following the sale, the chief financial officer now owns 221,779 shares of the company’s stock, valued at approximately $19,399,009.13. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Maamoun Rajeh sold 50,000 shares of the company’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $87.48, for a total transaction of $4,374,000.00. Following the transaction, the chief executive officer now owns 336,170 shares in the company, valued at approximately $29,408,151.60. The disclosure for this sale can be found here. Insiders have sold 135,689 shares of company stock valued at $11,872,217 in the last 90 days. 4.20% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on ACGL shares. JMP Securities reissued a “market outperform” rating and issued a $100.00 target price on shares of Arch Capital Group in a research report on Monday, April 15th. Morgan Stanley boosted their price objective on shares of Arch Capital Group from $104.00 to $109.00 and gave the company an “overweight” rating in a research report on Monday, April 15th. TD Cowen initiated coverage on shares of Arch Capital Group in a research report on Wednesday, January 10th. They set an “outperform” rating and a $96.00 price objective on the stock. Royal Bank of Canada reiterated an “outperform” rating and issued a $98.00 target price on shares of Arch Capital Group in a research note on Friday, February 16th. Finally, StockNews.com cut shares of Arch Capital Group from a “buy” rating to a “hold” rating in a research note on Monday, March 11th. Five research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, Arch Capital Group currently has an average rating of “Moderate Buy” and an average target price of $96.23.

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.