Northwestern Mutual Wealth Management Co. Lowers Stock Holdings in Arch Capital Group Ltd. (NASDAQ:ACGL)

Northwestern Mutual Wealth Management Co. lowered its position in shares of Arch Capital Group Ltd. (NASDAQ:ACGL) by 30.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 14,631 shares of the insurance provider’s stock after selling 6,452 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in Arch Capital Group were worth $1,476,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. NewEdge Advisors LLC increased its position in shares of Arch Capital Group by 18.8% in the second quarter. NewEdge Advisors LLC now owns 14,914 shares of the insurance provider’s stock valued at $1,505,000 after acquiring an additional 2,361 shares during the period. Creative Planning increased its holdings in Arch Capital Group by 14.4% during the 2nd quarter. Creative Planning now owns 36,230 shares of the insurance provider’s stock valued at $3,655,000 after purchasing an additional 4,571 shares during the period. SkyView Investment Advisors LLC raised its position in Arch Capital Group by 8.0% during the 2nd quarter. SkyView Investment Advisors LLC now owns 28,613 shares of the insurance provider’s stock valued at $2,887,000 after purchasing an additional 2,115 shares during the last quarter. Susquehanna Fundamental Investments LLC purchased a new stake in Arch Capital Group in the second quarter worth $2,129,000. Finally, Legal & General Group Plc lifted its position in shares of Arch Capital Group by 10.1% in the 2nd quarter. Legal & General Group Plc now owns 3,455,949 shares of the insurance provider’s stock worth $348,671,000 after purchasing an additional 316,070 shares during the period. 89.07% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently commented on ACGL. Royal Bank of Canada raised their target price on Arch Capital Group from $108.00 to $112.00 and gave the company an “outperform” rating in a research note on Thursday, August 1st. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Arch Capital Group from $110.00 to $120.00 and gave the stock a “buy” rating in a research note on Monday, July 1st. Citigroup raised their target price on shares of Arch Capital Group from $105.00 to $114.00 and gave the company a “neutral” rating in a research note on Tuesday, September 10th. JMP Securities boosted their price target on Arch Capital Group from $110.00 to $115.00 and gave the stock a “market outperform” rating in a research report on Wednesday, July 31st. Finally, Roth Mkm raised their price objective on Arch Capital Group from $110.00 to $125.00 and gave the company a “buy” rating in a research report on Friday, August 23rd. Five research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $113.73.

Arch Capital Group Trading Up 1.8 %

Arch Capital Group stock opened at $114.86 on Friday. Arch Capital Group Ltd. has a one year low of $72.85 and a one year high of $115.03. The business’s fifty day moving average is $107.47 and its 200 day moving average is $100.52. The stock has a market capitalization of $43.19 billion, a PE ratio of 9.07, a price-to-earnings-growth ratio of 2.06 and a beta of 0.59. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.60 and a quick ratio of 0.60.

Arch Capital Group (NASDAQ:ACGL) last announced its quarterly earnings results on Tuesday, July 30th. The insurance provider reported $2.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.21 by $0.36. Arch Capital Group had a net margin of 35.19% and a return on equity of 21.42%. The firm had revenue of $3.78 billion for the quarter, compared to the consensus estimate of $3.89 billion. During the same quarter last year, the firm posted $1.92 EPS. The business’s quarterly revenue was up 10.3% compared to the same quarter last year. On average, sell-side analysts predict that Arch Capital Group Ltd. will post 9.01 EPS for the current year.

Insider Buying and Selling

In other Arch Capital Group news, CFO Francois Morin sold 11,460 shares of the business’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $102.46, for a total transaction of $1,174,191.60. Following the completion of the sale, the chief financial officer now directly owns 221,779 shares in the company, valued at approximately $22,723,476.34. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 4.20% of the stock is currently owned by corporate insiders.

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.