Hartford Investment Management Co. Has $2.66 Million Position in Arch Capital Group Ltd. (NASDAQ:ACGL)

Hartford Investment Management Co. lessened its position in Arch Capital Group Ltd. (NASDAQ:ACGL) by 1.2% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 23,774 shares of the insurance provider’s stock after selling 279 shares during the quarter. Hartford Investment Management Co.’s holdings in Arch Capital Group were worth $2,660,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently bought and sold shares of ACGL. UMB Bank n.a. bought a new stake in shares of Arch Capital Group in the second quarter worth $30,000. Baldwin Brothers LLC MA lifted its position in Arch Capital Group by 50.7% during the 2nd quarter. Baldwin Brothers LLC MA now owns 309 shares of the insurance provider’s stock worth $31,000 after buying an additional 104 shares in the last quarter. Rothschild Investment LLC acquired a new position in shares of Arch Capital Group during the 2nd quarter worth about $35,000. LRI Investments LLC bought a new position in shares of Arch Capital Group in the 1st quarter valued at about $38,000. Finally, Versant Capital Management Inc increased its position 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 acquiring an additional 131 shares during the last quarter. Institutional investors own 89.07% of the company’s stock.

Arch Capital Group Price Performance

Arch Capital Group stock opened at $107.00 on Thursday. The firm has a market cap of $40.18 billion, a PE ratio of 8.45, a price-to-earnings-growth ratio of 2.01 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. The stock’s fifty day moving average price is $110.46 and its two-hundred day moving average price is $102.17. Arch Capital Group Ltd. has a one year low of $72.85 and a one year high of $116.47.

Arch Capital Group (NASDAQ:ACGL) last issued its quarterly earnings results on Tuesday, July 30th. The insurance provider reported $2.57 EPS for the quarter, topping analysts’ consensus estimates of $2.21 by $0.36. Arch Capital Group had a return on equity of 21.42% and a net margin of 35.19%. The company had revenue of $3.78 billion for the quarter, compared to analysts’ expectations of $3.89 billion. During the same quarter last year, the business earned $1.92 earnings per share. Arch Capital Group’s revenue was up 10.3% on a year-over-year basis. As a group, research analysts expect that Arch Capital Group Ltd. will post 9.06 EPS for the current fiscal year.

Insider Buying and Selling at Arch Capital Group

In other news, CFO Francois Morin sold 11,460 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $102.46, for a total value of $1,174,191.60. Following the completion of the transaction, 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 can be accessed through this hyperlink. Insiders own 4.20% of the company’s stock.

Analyst Ratings Changes

ACGL has been the subject of several recent analyst reports. Barclays began coverage on Arch Capital Group in a report on Wednesday, September 4th. They issued an “equal weight” rating and a $120.00 price objective for the company. Bank of America increased their price target on shares of Arch Capital Group from $119.00 to $135.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Citigroup boosted their price objective on shares of Arch Capital Group from $105.00 to $114.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 10th. JMP Securities raised their target price on shares of Arch Capital Group from $115.00 to $125.00 and gave the company a “market outperform” rating in a research note on Tuesday, October 15th. Finally, JPMorgan Chase & Co. boosted their price target on Arch Capital Group from $108.00 to $110.00 and gave the stock a “neutral” rating in a research report on Thursday, October 10th. Five research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $119.53.

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.