Pittenger & Anderson Inc. Buys New Stake in Arch Capital Group Ltd. $ACGL

Key Points

• Pittenger & Anderson Inc. initiated a new position in Arch Capital Group during the first quarter, buying 13,900 shares valued at about $1.33 million.
• Institutional ownership remains heavy, with hedge funds and other investors holding 89.07% of the company’s stock; several firms also added modestly to their positions.
• Wall Street sentiment is mixed but leans cautious: the stock has a consensus Hold rating and an average price target of $108.12, while analysts have recently split on upgrades and target changes.

Pittenger & Anderson Inc. bought a new position in Arch Capital Group Ltd. (NASDAQ:ACGL - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 13,900 shares of the insurance provider's stock, valued at approximately $1,334,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of ACGL. R. W. Roge & Company Inc. increased its stake in shares of Arch Capital Group by 5.6% in the first quarter. R. W. Roge & Company Inc. now owns 3,203 shares of the insurance provider's stock worth $307,000 after purchasing an additional 169 shares during the period. Fifth Third Bancorp boosted its stake in Arch Capital Group by 5.1% during the 1st quarter. Fifth Third Bancorp now owns 7,782 shares of the insurance provider's stock valued at $747,000 after purchasing an additional 375 shares during the period. Candriam S.C.A. grew its holdings in Arch Capital Group by 5.2% in the 1st quarter. Candriam S.C.A. now owns 52,089 shares of the insurance provider's stock valued at $5,000,000 after buying an additional 2,579 shares during the last quarter. Sequoia Financial Advisors LLC grew its holdings in Arch Capital Group by 1.2% in the 1st quarter. Sequoia Financial Advisors LLC now owns 35,538 shares of the insurance provider's stock valued at $3,411,000 after buying an additional 411 shares during the last quarter. Finally, Equitable Trust Co. increased its position in Arch Capital Group by 0.9% in the 1st quarter. Equitable Trust Co. now owns 35,900 shares of the insurance provider's stock worth $3,446,000 after buying an additional 309 shares during the period. Institutional investors and hedge funds own 89.07% of the company's stock.

Wall Street Analyst Weigh In

ACGL has been the subject of several research reports. Morgan Stanley increased their price objective on Arch Capital Group from $105.00 to $110.00 and gave the company an "overweight" rating in a research report on Monday, July 6th. Keefe, Bruyette & Woods dropped their target price on shares of Arch Capital Group from $102.00 to $99.00 and set a "market perform" rating on the stock in a research report on Wednesday, July 8th. Mizuho upped their target price on shares of Arch Capital Group from $101.00 to $104.00 and gave the company a "neutral" rating in a research note on Thursday. Cantor Fitzgerald reissued a "neutral" rating and issued a $102.00 price target (up from $100.00) on shares of Arch Capital Group in a report on Thursday. Finally, Citigroup raised their price target on shares of Arch Capital Group from $120.00 to $122.50 and gave the stock a "buy" rating in a research report on Thursday, April 30th. Eight equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, Arch Capital Group has a consensus rating of "Hold" and an average target price of $108.12.

Arch Capital Group Price Performance

Shares of ACGL stock opened at $101.06 on Monday. Arch Capital Group Ltd. has a 12 month low of $82.44 and a 12 month high of $105.09. The company has a market capitalization of $35.31 billion, a P/E ratio of 7.76, a P/E/G ratio of 5.03 and a beta of 0.31. The stock has a 50 day moving average of $94.44 and a two-hundred day moving average of $95.47. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 0.15.

Arch Capital Group (NASDAQ:ACGL - Get Free Report) last released its quarterly earnings data on Tuesday, March 31st. The insurance provider reported $2.50 earnings per share (EPS) for the quarter. The business had revenue of $4.52 billion for the quarter. Arch Capital Group had a return on equity of 17.61% and a net margin of 24.64%. As a group, equities analysts expect that Arch Capital Group Ltd. will post 9.34 EPS for the current year.

Insider Buying and Selling at Arch Capital Group

In other Arch Capital Group news, Director Daniel Joseph Houston purchased 5,300 shares of the stock in a transaction on Thursday, April 30th. The shares were purchased at an average price of $94.08 per share, with a total value of $498,624.00. Following the acquisition, the director directly owned 9,915 shares of the company's stock, valued at $932,803.20. This represents a 114.84% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Brian S. Posner sold 3,000 shares of the stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $19.66, for a total transaction of $58,980.00. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 3.30% of the company's stock.

Arch Capital Group Company Profile

Arch Capital Group Ltd. NASDAQ: ACGL is a Bermuda-based insurance and reinsurance holding company that underwrites a broad range of property and casualty, mortgage, and specialty risk products. The company operates through a group of underwriting subsidiaries and platforms to provide insurance, reinsurance and related risk solutions tailored to commercial, institutional and individual clients.

Arch's product mix includes treaty and facultative reinsurance, primary casualty and property insurance, mortgage insurance and other specialty lines.

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