Pinnacle Wealth Planning Services Inc. Cuts Holdings in Arch Capital Group Ltd. (NASDAQ:ACGL)

Pinnacle Wealth Planning Services Inc. cut its position in shares of Arch Capital Group Ltd. (NASDAQ:ACGL) by 7.7% during the 4th quarter, Holdings Channel reports. The firm owned 3,125 shares of the insurance provider’s stock after selling 259 shares during the quarter. Pinnacle Wealth Planning Services Inc.’s holdings in Arch Capital Group were worth $289,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Farther Finance Advisors LLC boosted its stake in Arch Capital Group by 12.8% in the third quarter. Farther Finance Advisors LLC now owns 890 shares of the insurance provider’s stock valued at $100,000 after acquiring an additional 101 shares during the last quarter. Van ECK Associates Corp boosted its stake in Arch Capital Group by 11.0% in the third quarter. Van ECK Associates Corp now owns 67,250 shares of the insurance provider’s stock valued at $7,196,000 after acquiring an additional 6,669 shares during the last quarter. Avidian Wealth Enterprises LLC boosted its stake in Arch Capital Group by 6.6% in the third quarter. Avidian Wealth Enterprises LLC now owns 2,951 shares of the insurance provider’s stock valued at $330,000 after acquiring an additional 183 shares during the last quarter. Concurrent Investment Advisors LLC purchased a new position in Arch Capital Group in the third quarter valued at about $227,000. Finally, Graypoint LLC purchased a new position in Arch Capital Group in the third quarter valued at about $212,000. 89.07% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have weighed in on ACGL shares. JMP Securities reiterated a “market outperform” rating and issued a $125.00 target price on shares of Arch Capital Group in a research note on Tuesday, February 11th. Bank of America dropped their target price on shares of Arch Capital Group from $143.00 to $136.00 and set a “buy” rating on the stock in a research note on Friday, November 15th. Barclays dropped their target price on shares of Arch Capital Group from $120.00 to $100.00 and set an “equal weight” rating on the stock in a research note on Monday, January 6th. JPMorgan Chase & Co. dropped their price target on shares of Arch Capital Group from $110.00 to $106.00 and set a “neutral” rating on the stock in a research note on Friday, January 3rd. Finally, Royal Bank of Canada dropped their price target on shares of Arch Capital Group from $125.00 to $110.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 12th. Six analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $117.19.

Insider Transactions at Arch Capital Group

In other news, insider Louis T. Petrillo sold 11,600 shares of the stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $91.00, for a total value of $1,055,600.00. Following the transaction, the insider now owns 140,023 shares of the company’s stock, valued at $12,742,093. This represents a 7.65 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 4.20% of the company’s stock.

Arch Capital Group Stock Performance

Arch Capital Group stock opened at $91.00 on Friday. The firm’s 50 day simple moving average is $91.99 and its 200 day simple moving average is $100.14. The company has a current ratio of 0.54, a quick ratio of 0.58 and a debt-to-equity ratio of 0.15. The firm has a market capitalization of $34.16 billion, a PE ratio of 8.13, a price-to-earnings-growth ratio of 2.31 and a beta of 0.62. Arch Capital Group Ltd. has a 1-year low of $87.00 and a 1-year high of $116.47.

Arch Capital Group (NASDAQ:ACGL) last posted its earnings results on Monday, February 10th. The insurance provider reported $2.26 earnings per share for the quarter, topping analysts’ consensus estimates of $1.90 by $0.36. Arch Capital Group had a net margin of 24.73% and a return on equity of 17.96%. During the same quarter last year, the firm posted $2.45 EPS. As a group, analysts expect that Arch Capital Group Ltd. will post 8.42 earnings per share for the current fiscal year.

Arch Capital Group Company 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.