PNC Financial Services Group Inc. Has $8.02 Million Stock Holdings in Arch Capital Group Ltd. (NASDAQ:ACGL)

PNC Financial Services Group Inc. increased its position in shares of Arch Capital Group Ltd. (NASDAQ:ACGL) by 10.0% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 71,721 shares of the insurance provider’s stock after purchasing an additional 6,521 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Arch Capital Group were worth $8,024,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the company. UMB Bank n.a. bought a new position in shares of Arch Capital Group in the second quarter valued at approximately $30,000. Baldwin Brothers LLC MA raised its position in Arch Capital Group by 50.7% in the 2nd quarter. Baldwin Brothers LLC MA now owns 309 shares of the insurance provider’s stock valued at $31,000 after purchasing an additional 104 shares during the last quarter. Rothschild Investment LLC acquired a new position in Arch Capital Group in the second quarter worth $35,000. LRI Investments LLC bought a new stake in shares of Arch Capital Group during the first quarter worth $38,000. Finally, Versant Capital Management Inc increased its stake in shares of Arch Capital Group by 40.3% in the second quarter. Versant Capital Management Inc now owns 456 shares of the insurance provider’s stock valued at $46,000 after buying an additional 131 shares in the last quarter. 89.07% of the stock is owned by institutional investors.

Arch Capital Group Price Performance

Shares of ACGL stock opened at $99.69 on Friday. The firm has a market capitalization of $37.51 billion, a price-to-earnings ratio of 6.69, a price-to-earnings-growth ratio of 1.52 and a beta of 0.61. Arch Capital Group Ltd. has a 12-month low of $72.85 and a 12-month high of $116.47. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 0.17. The firm has a fifty day moving average of $106.67 and a 200-day moving average of $103.32.

Arch Capital Group (NASDAQ:ACGL) last announced its quarterly earnings results on Wednesday, October 30th. The insurance provider reported $1.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.94 by $0.05. Arch Capital Group had a return on equity of 18.94% and a net margin of 33.86%. The company had revenue of $4.72 billion during the quarter, compared to the consensus estimate of $4.05 billion. During the same period in the prior year, the company earned $2.31 earnings per share. On average, equities research analysts forecast that Arch Capital Group Ltd. will post 9.01 earnings per share for the current year.

Arch Capital Group Dividend Announcement

The business also recently declared a special dividend, which will be paid on Wednesday, December 4th. Shareholders of record on Monday, November 18th will be paid a $5.00 dividend. The ex-dividend date of this dividend is Monday, November 18th.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on ACGL shares. Keefe, Bruyette & Woods increased their price objective on shares of Arch Capital Group from $120.00 to $121.00 and gave the stock an “outperform” rating in a report on Wednesday, August 7th. Royal Bank of Canada decreased their price target on shares of Arch Capital Group from $128.00 to $125.00 and set an “outperform” rating on the stock in a research note on Friday, November 1st. Bank of America dropped their price objective on shares of Arch Capital Group from $143.00 to $136.00 and set a “buy” rating for the company in a research report on Friday, November 15th. JPMorgan Chase & Co. lifted their target price on Arch Capital Group from $108.00 to $110.00 and gave the company a “neutral” rating in a research note on Thursday, October 10th. Finally, Jefferies Financial Group upped their price target on Arch Capital Group from $114.00 to $134.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Six equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, Arch Capital Group has an average rating of “Moderate Buy” and an average target price of $118.38.

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.