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

PNC Financial Services Group Inc. grew its stake in Arch Capital Group Ltd. (NASDAQ:ACGL - Free Report) by 10.0% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm 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 reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. CreativeOne Wealth LLC acquired a new position in Arch Capital Group during the first quarter valued at approximately $219,000. Advisors Asset Management Inc. raised its stake in Arch Capital Group by 1.4% during the 1st quarter. Advisors Asset Management Inc. now owns 16,826 shares of the insurance provider's stock worth $1,555,000 after buying an additional 231 shares during the period. Canada Pension Plan Investment Board lifted its holdings in Arch Capital Group by 151.5% during the first quarter. Canada Pension Plan Investment Board now owns 254,721 shares of the insurance provider's stock worth $23,546,000 after acquiring an additional 153,421 shares in the last quarter. LRI Investments LLC bought a new stake in shares of Arch Capital Group in the first quarter worth about $40,000. Finally, PEAK6 Investments LLC raised its position in shares of Arch Capital Group by 646.4% during the first quarter. PEAK6 Investments LLC now owns 35,882 shares of the insurance provider's stock worth $3,317,000 after purchasing an additional 42,449 shares during the period. 89.07% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Citigroup boosted their price objective on shares of Arch Capital Group from $105.00 to $114.00 and gave the company a "neutral" rating in a research report on Tuesday, September 10th. Keefe, Bruyette & Woods upped their price target on Arch Capital Group from $120.00 to $121.00 and gave the stock an "outperform" rating in a research report on Wednesday, August 7th. Barclays assumed coverage on shares of Arch Capital Group in a research note on Wednesday, September 4th. They set an "equal weight" rating and a $120.00 price objective for the company. TD Cowen increased their price target on Arch Capital Group from $116.00 to $138.00 and gave the company a "buy" rating in a research report on Friday, September 20th. Finally, StockNews.com lowered Arch Capital Group from a "buy" rating to a "hold" rating in a research report on Thursday, October 24th. Six investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company's stock. Based on data from MarketBeat, Arch Capital Group currently has a consensus rating of "Moderate Buy" and an average target price of $118.38.

Arch Capital Group Price Performance

Shares of NASDAQ:ACGL traded up $1.10 during midday trading on Friday, hitting $99.69. The stock had a trading volume of 1,569,642 shares, compared to its average volume of 2,220,537. The company's 50-day moving average price is $106.67 and its 200-day moving average price is $103.35. Arch Capital Group Ltd. has a fifty-two week low of $72.85 and a fifty-two week 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 company has a market capitalization of $37.51 billion, a P/E ratio of 6.69, a price-to-earnings-growth ratio of 1.56 and a beta of 0.61.

Arch Capital Group (NASDAQ:ACGL - Get Free Report) last released its quarterly earnings data on Wednesday, October 30th. The insurance provider reported $1.99 earnings per share for the quarter, beating the consensus estimate of $1.94 by $0.05. The business had revenue of $4.72 billion for the quarter, compared to analyst estimates of $4.05 billion. Arch Capital Group had a return on equity of 18.94% and a net margin of 33.86%. During the same period last year, the firm posted $2.31 earnings per share. As a group, equities research analysts predict that Arch Capital Group Ltd. will post 9.01 EPS for the current fiscal year.

Arch Capital Group Dividend Announcement

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

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.