Pacer Advisors Inc. Has $1.84 Million Stock Holdings in Arch Capital Group Ltd. (NASDAQ:ACGL)

Key Points

• Pacer Advisors Inc. has reduced its stake in Arch Capital Group Ltd. by 58%, owning 19,162 shares worth approximately $1.84 million after selling 26,505 shares in the first quarter.
• The earnings report from Arch Capital revealed $2.58 earnings per share, surpassing estimates, and the company generated $4.35 billion in revenue for the quarter.
• Most analysts rate Arch Capital stock as a Moderate Buy, with an average price target of $113.60 following recent upgrades and downgrades by various financial institutions.

Pacer Advisors Inc. trimmed its stake in Arch Capital Group Ltd. (NASDAQ:ACGL - Free Report) by 58.0% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 19,162 shares of the insurance provider's stock after selling 26,505 shares during the quarter. Pacer Advisors Inc.'s holdings in Arch Capital Group were worth $1,843,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the stock. Resonant Capital Advisors LLC grew its stake in Arch Capital Group by 1.7% during the first quarter. Resonant Capital Advisors LLC now owns 6,672 shares of the insurance provider's stock worth $642,000 after buying an additional 113 shares during the period. Venturi Wealth Management LLC grew its stake in Arch Capital Group by 0.9% during the first quarter. Venturi Wealth Management LLC now owns 13,228 shares of the insurance provider's stock worth $1,272,000 after buying an additional 115 shares during the period. Horizon Advisory Services Inc. grew its stake in Arch Capital Group by 4.2% during the first quarter. Horizon Advisory Services Inc. now owns 2,996 shares of the insurance provider's stock worth $288,000 after buying an additional 120 shares during the period. Cim LLC grew its stake in Arch Capital Group by 1.1% during the fourth quarter. Cim LLC now owns 11,194 shares of the insurance provider's stock worth $1,034,000 after buying an additional 124 shares during the period. Finally, CreativeOne Wealth LLC grew its stake in Arch Capital Group by 4.9% during the fourth quarter. CreativeOne Wealth LLC now owns 2,682 shares of the insurance provider's stock worth $248,000 after buying an additional 126 shares during the period. 89.07% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Louis T. Petrillo sold 16,650 shares of the firm's stock in a transaction dated Friday, May 9th. The shares were sold at an average price of $94.53, for a total transaction of $1,573,924.50. Following the completion of the transaction, the insider owned 140,023 shares in the company, valued at approximately $13,236,374.19. This trade represents a 10.63% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider John M. Pasquesi sold 75,060 shares of the firm's stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $94.01, for a total transaction of $7,056,390.60. Following the transaction, the insider owned 579,218 shares of the company's stock, valued at approximately $54,452,284.18. This trade represents a 11.47% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 104,340 shares of company stock worth $9,824,861. Corporate insiders own 4.20% of the company's stock.

Arch Capital Group Price Performance

ACGL traded up $1.94 on Friday, reaching $88.00. The company had a trading volume of 2,846,750 shares, compared to its average volume of 1,926,353. The company has a fifty day moving average of $90.41 and a 200-day moving average of $91.64. The company has a market capitalization of $32.98 billion, a P/E ratio of 9.08, a PEG ratio of 5.90 and a beta of 0.51. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 0.16. Arch Capital Group Ltd. has a one year low of $82.49 and a one year high of $116.47.

Arch Capital Group (NASDAQ:ACGL - Get Free Report) last announced its earnings results on Tuesday, July 29th. The insurance provider reported $2.58 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.30 by $0.28. Arch Capital Group had a net margin of 19.49% and a return on equity of 15.33%. The firm had revenue of $4.35 billion during the quarter, compared to analyst estimates of $4.29 billion. During the same quarter in the prior year, the firm posted $2.57 EPS. As a group, equities research analysts anticipate that Arch Capital Group Ltd. will post 8.42 earnings per share for the current year.

Analysts Set New Price Targets

ACGL has been the subject of several research reports. Barclays decreased their price objective on shares of Arch Capital Group from $100.00 to $93.00 and set an "equal weight" rating for the company in a research note on Friday, April 11th. Jefferies Financial Group downgraded shares of Arch Capital Group from a "buy" rating to a "hold" rating and decreased their target price for the company from $106.00 to $100.00 in a research note on Tuesday, June 10th. UBS Group upped their target price on shares of Arch Capital Group to $124.00 and gave the company a "buy" rating in a research note on Thursday, June 12th. Keefe, Bruyette & Woods restated a "market perform" rating and issued a $101.00 target price (down from $113.00) on shares of Arch Capital Group in a research note on Wednesday, July 9th. Finally, Wells Fargo & Company decreased their target price on shares of Arch Capital Group from $110.00 to $107.00 and set an "overweight" rating for the company in a research note on Thursday. Eight investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, Arch Capital Group currently has an average rating of "Moderate Buy" and an average target price of $113.40.

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.