Northern Trust Corp Buys 144,986 Shares of Arch Capital Group Ltd. $ACGL

Key Points

• Northern Trust Corp increased its holdings in Arch Capital Group by 3.0% during Q1, owning approximately 5 million shares valued at $481.46 million.
• Analysts have set a consensus price target of $112.13 for Arch Capital Group, with ten analysts giving it a "Buy" rating and seven a "Hold" rating.
• Arch Capital Group reported earnings of $2.58 per share for the last quarter, exceeding estimates and showing a strong revenue of $4.35 billion.

Northern Trust Corp raised its stake in shares of Arch Capital Group Ltd. (NASDAQ:ACGL - Free Report) by 3.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,005,790 shares of the insurance provider's stock after buying an additional 144,986 shares during the quarter. Northern Trust Corp owned about 1.33% of Arch Capital Group worth $481,457,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. grew its holdings in Arch Capital Group by 14.1% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 51,804 shares of the insurance provider's stock valued at $4,924,000 after buying an additional 6,406 shares in the last quarter. DAVENPORT & Co LLC purchased a new stake in Arch Capital Group during the 1st quarter valued at approximately $251,000. D.A. Davidson & CO. grew its holdings in Arch Capital Group by 10.9% during the 1st quarter. D.A. Davidson & CO. now owns 45,552 shares of the insurance provider's stock valued at $4,381,000 after buying an additional 4,460 shares in the last quarter. Crossmark Global Holdings Inc. grew its holdings in Arch Capital Group by 24.7% during the 1st quarter. Crossmark Global Holdings Inc. now owns 37,625 shares of the insurance provider's stock valued at $3,619,000 after buying an additional 7,448 shares in the last quarter. Finally, World Investment Advisors grew its holdings in Arch Capital Group by 114.1% during the 1st quarter. World Investment Advisors now owns 6,321 shares of the insurance provider's stock valued at $608,000 after buying an additional 3,369 shares in the last quarter. 89.07% of the stock is owned by hedge funds and other institutional investors.

Arch Capital Group Trading Down 1.5%

NASDAQ ACGL traded down $1.42 on Monday, hitting $91.99. 136,027 shares of the stock were exchanged, compared to its average volume of 1,920,002. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.56 and a current ratio of 0.56. The stock has a fifty day moving average price of $89.45 and a two-hundred day moving average price of $91.19. The firm has a market capitalization of $34.33 billion, a P/E ratio of 9.50, a P/E/G ratio of 5.72 and a beta of 0.49. Arch Capital Group Ltd. has a 52-week low of $82.49 and a 52-week high of $116.47.

Arch Capital Group (NASDAQ:ACGL - Get Free Report) last posted its quarterly earnings data on Tuesday, July 29th. The insurance provider reported $2.58 EPS for the quarter, topping the consensus estimate of $2.30 by $0.28. The company had revenue of $4.35 billion during the quarter, compared to analyst estimates of $4.29 billion. Arch Capital Group had a net margin of 19.49% and a return on equity of 15.33%. During the same period in the previous year, the firm earned $2.57 earnings per share. Research analysts forecast that Arch Capital Group Ltd. will post 8.42 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

ACGL has been the subject of a number of research analyst reports. Morgan Stanley set a $110.00 price objective on shares of Arch Capital Group and gave the company an "overweight" rating in a report on Monday, May 19th. JMP Securities restated a "market outperform" rating and issued a $125.00 price target on shares of Arch Capital Group in a research report on Wednesday, April 30th. Keefe, Bruyette & Woods boosted their price target on shares of Arch Capital Group from $102.00 to $103.00 and gave the stock a "market perform" rating in a research report on Thursday, August 14th. Cowen restated a "buy" rating on shares of Arch Capital Group in a research report on Monday, August 4th. Finally, Citigroup initiated coverage on shares of Arch Capital Group in a research report on Wednesday, August 13th. They issued a "buy" rating and a $113.00 price target on the stock. Nine analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $111.27.

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.