Pittenger & Anderson Inc. Invests $180,000 in Arch Capital Group Ltd. (NASDAQ:ACGL)

Pittenger & Anderson Inc. bought a new stake in Arch Capital Group Ltd. (NASDAQ:ACGL) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 2,420 shares of the insurance provider’s stock, valued at approximately $180,000.

Other hedge funds have also recently made changes to their positions in the company. Harbor Capital Advisors Inc. boosted its stake in shares of Arch Capital Group by 2.7% during the 4th quarter. Harbor Capital Advisors Inc. now owns 5,448 shares of the insurance provider’s stock worth $405,000 after acquiring an additional 144 shares in the last quarter. Signaturefd LLC boosted its stake in shares of Arch Capital Group by 6.8% during the 3rd quarter. Signaturefd LLC now owns 2,292 shares of the insurance provider’s stock worth $183,000 after acquiring an additional 146 shares in the last quarter. SRS Capital Advisors Inc. boosted its stake in shares of Arch Capital Group by 15.2% during the 3rd quarter. SRS Capital Advisors Inc. now owns 1,107 shares of the insurance provider’s stock worth $88,000 after acquiring an additional 146 shares in the last quarter. Legacy Wealth Asset Management LLC raised its position in shares of Arch Capital Group by 2.2% during the 4th quarter. Legacy Wealth Asset Management LLC now owns 6,985 shares of the insurance provider’s stock worth $519,000 after purchasing an additional 149 shares during the last quarter. Finally, Steph & Co. raised its position in shares of Arch Capital Group by 4.5% during the 3rd quarter. Steph & Co. now owns 4,247 shares of the insurance provider’s stock worth $339,000 after purchasing an additional 181 shares during the last quarter. 89.07% of the stock is owned by institutional investors and hedge funds.

Arch Capital Group Trading Down 0.2 %

Shares of NASDAQ ACGL traded down $0.14 during midday trading on Thursday, reaching $93.05. 1,180,533 shares of the stock were exchanged, compared to its average volume of 1,698,568. The company has a 50 day simple moving average of $90.13 and a 200 day simple moving average of $84.28. The stock has a market capitalization of $34.91 billion, a P/E ratio of 8.02, a PEG ratio of 1.17 and a beta of 0.57. 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 twelve month low of $69.05 and a twelve month high of $95.01.

Arch Capital Group (NASDAQ:ACGL) last announced its quarterly earnings results on Thursday, February 15th. The insurance provider reported $2.49 earnings per share (EPS) 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 the consensus estimate 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 quarter last year, the firm earned $2.14 EPS. As a group, equities analysts expect that Arch Capital Group Ltd. will post 8.03 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Nicolas Papadopoulo sold 60,000 shares of the 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 owns 651,931 shares of the company’s stock, valued at approximately $57,057,001.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Arch Capital Group news, 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 value of $5,251,200.00. Following the completion of the transaction, the insider now owns 651,931 shares of the company’s stock, valued at approximately $57,057,001.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Maamoun Rajeh sold 50,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $87.48, for a total transaction of $4,374,000.00. Following the completion of the transaction, the chief executive officer now directly owns 336,170 shares of the company’s stock, valued at approximately $29,408,151.60. The disclosure for this sale can be found here. In the last quarter, insiders sold 135,689 shares of company stock valued at $11,872,217. Company insiders own 4.20% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on ACGL shares. Morgan Stanley upped 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. Citigroup reduced their price target on shares of Arch Capital Group from $91.00 to $89.00 and set a “neutral” rating for the company in a research report on Monday, January 22nd. StockNews.com downgraded shares of Arch Capital Group from a “buy” rating to a “hold” rating in a research report on Monday, March 11th. JPMorgan Chase & Co. upped their price target on shares of Arch Capital Group from $88.00 to $92.00 and gave the stock a “neutral” rating in a research report on Monday, April 8th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $98.00 price objective on shares of Arch Capital Group in a report on Friday, February 16th. Five equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $96.23.

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.