PNC Financial Services Group Inc. Has $4.60 Million Holdings in Arch Capital Group Ltd. (NASDAQ:ACGL)

PNC Financial Services Group Inc. decreased its stake in Arch Capital Group Ltd. (NASDAQ:ACGL) by 2.5% during the 4th quarter, HoldingsChannel reports. The fund owned 61,880 shares of the insurance provider’s stock after selling 1,579 shares during the period. PNC Financial Services Group Inc.’s holdings in Arch Capital Group were worth $4,596,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Norges Bank acquired a new stake in Arch Capital Group in the 4th quarter worth $309,496,000. Envestnet Asset Management Inc. increased its stake in Arch Capital Group by 112.4% during the third quarter. Envestnet Asset Management Inc. now owns 2,620,807 shares of the insurance provider’s stock valued at $208,905,000 after acquiring an additional 1,387,072 shares during the period. Hsbc Holdings PLC raised its holdings in Arch Capital Group by 597.9% in the 3rd quarter. Hsbc Holdings PLC now owns 1,419,944 shares of the insurance provider’s stock valued at $113,516,000 after acquiring an additional 1,216,498 shares in the last quarter. Invesco Ltd. grew its holdings in shares of Arch Capital Group by 16.3% during the 3rd quarter. Invesco Ltd. now owns 3,385,665 shares of the insurance provider’s stock worth $269,871,000 after purchasing an additional 475,464 shares in the last quarter. Finally, International Assets Investment Management LLC acquired a new position in shares of Arch Capital Group in the fourth quarter valued at $295,440,000. Institutional investors own 89.07% of the company’s stock.

Insiders Place Their Bets

In other news, insider Nicolas Papadopoulo sold 60,000 shares of Arch Capital Group stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $87.52, for a total value of $5,251,200.00. Following the completion of the sale, the insider now directly owns 651,931 shares of the company’s stock, valued at approximately $57,057,001.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO Maamoun Rajeh sold 50,000 shares of the stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $87.48, for a total value of $4,374,000.00. Following the transaction, the chief executive officer now directly owns 336,170 shares in the company, valued at $29,408,151.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Nicolas Papadopoulo sold 60,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $87.52, for a total transaction of $5,251,200.00. Following the completion of the transaction, the insider now directly owns 651,931 shares in the company, valued at $57,057,001.12. The disclosure for this sale can be found here. In the last quarter, insiders have sold 145,689 shares of company stock valued at $12,838,617. 4.20% of the stock is currently owned by corporate insiders.

Arch Capital Group Stock Performance

Shares of NASDAQ:ACGL opened at $103.36 on Friday. The business has a fifty day moving average of $94.47 and a 200-day moving average of $86.36. The firm has a market cap of $38.81 billion, a PE ratio of 8.16, a price-to-earnings-growth ratio of 2.36 and a beta of 0.57. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.59 and a current ratio of 0.59. Arch Capital Group Ltd. has a twelve month low of $69.05 and a twelve month high of $103.79.

Arch Capital Group (NASDAQ:ACGL) last announced 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. 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 analyst estimates of $3.77 billion. During the same period in the prior year, the business earned $1.73 earnings per share. Arch Capital Group’s quarterly revenue was up 19.3% on a year-over-year basis. On average, equities research analysts predict that Arch Capital Group Ltd. will post 8.55 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have issued reports on ACGL. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Arch Capital Group from $103.00 to $110.00 and gave the company a “buy” rating in a report on Tuesday, April 30th. Morgan Stanley increased their price target on shares of Arch Capital Group from $104.00 to $109.00 and gave the stock an “overweight” rating in a research report on Monday, April 15th. Bank of America lifted their price objective on Arch Capital Group from $105.00 to $109.00 and gave the company a “buy” rating in a report on Tuesday, April 30th. Evercore ISI increased their target price on Arch Capital Group from $98.00 to $100.00 and gave the stock an “in-line” rating in a report on Tuesday, April 30th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $98.00 target price on shares of Arch Capital Group in a research report on Friday, February 16th. Five equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $100.67.

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.