PFG Investments LLC Purchases New Stake in Arch Capital Group Ltd. (NASDAQ:ACGL)

PFG Investments LLC purchased a new stake in Arch Capital Group Ltd. (NASDAQ:ACGL - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 20,956 shares of the insurance provider's stock, valued at approximately $1,937,000.

Other institutional investors have also recently modified their holdings of the company. Householder Group Estate & Retirement Specialist LLC purchased a new stake in shares of Arch Capital Group in the fourth quarter valued at approximately $27,000. Larson Financial Group LLC acquired a new position in Arch Capital Group during the fourth quarter worth $30,000. Richardson Financial Services Inc. acquired a new position in Arch Capital Group during the fourth quarter worth $33,000. Steward Financial Group LLC raised its holdings in Arch Capital Group by 180.7% during the third quarter. Steward Financial Group LLC now owns 525 shares of the insurance provider's stock worth $41,000 after purchasing an additional 338 shares during the last quarter. Finally, Indiana Trust & Investment Management CO acquired a new position in Arch Capital Group during the first quarter worth $58,000. 89.07% of the stock is currently owned by hedge funds and other institutional investors.

Arch Capital Group Trading Down 2.3 %

ACGL stock traded down $2.15 during trading on Friday, reaching $90.90. 1,458,046 shares of the stock traded hands, compared to its average volume of 1,447,893. The business's 50 day moving average price is $90.34 and its 200-day moving average price is $84.43. Arch Capital Group Ltd. has a 52-week low of $69.05 and a 52-week high of $95.01. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.57 and a quick ratio of 0.57. The firm has a market capitalization of $34.10 billion, a PE ratio of 7.82, a P/E/G ratio of 1.13 and a beta of 0.57.

Arch Capital Group (NASDAQ:ACGL - Get Free Report) last posted its quarterly earnings results on Thursday, February 15th. The insurance provider reported $2.49 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.94 by $0.55. Arch Capital Group had a return on equity of 21.94% and a net margin of 32.59%. The firm had revenue of $3.98 billion during the quarter, compared to the consensus estimate of $3.67 billion. During the same quarter in the previous year, the business earned $2.14 earnings per share. As a group, sell-side analysts forecast that Arch Capital Group Ltd. will post 8.03 earnings per share for the current year.

Insider Transactions at Arch Capital Group

In other news, 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 value of $4,374,000.00. Following the completion of the sale, the chief executive officer now owns 336,170 shares of the company's stock, valued at $29,408,151.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, CFO Francois Morin sold 25,689 shares of the business's stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $87.47, for a total value of $2,247,016.83. Following the transaction, the chief financial officer now owns 221,779 shares in the company, valued at $19,399,009.13. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Maamoun Rajeh sold 50,000 shares of the business's stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $87.48, for a total value of $4,374,000.00. Following the completion of 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 sold 135,689 shares of company stock valued at $11,872,217 over the last quarter. Company insiders own 4.20% of the company's stock.

Wall Street Analyst Weigh In

ACGL has been the subject of several research reports. UBS Group reduced their price objective on Arch Capital Group from $101.00 to $97.00 and set a "buy" rating for the company in a report on Wednesday, January 10th. Morgan Stanley lifted their price objective on Arch Capital Group from $104.00 to $109.00 and gave the stock an "overweight" rating in a report on Monday, April 15th. Evercore ISI boosted their price target on Arch Capital Group from $92.00 to $100.00 and gave the stock an "in-line" rating in a report on Thursday, April 11th. TD Cowen started coverage on Arch Capital Group in a report on Wednesday, January 10th. They issued an "outperform" rating and a $96.00 price target for the company. Finally, JPMorgan Chase & Co. boosted their price target on Arch Capital Group from $88.00 to $92.00 and gave the stock a "neutral" rating in a report on Monday, April 8th. Five equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the stock presently 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.

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