Hartford Investment Management Co. Reduces Holdings in Arch Capital Group Ltd. (NASDAQ:ACGL)

Hartford Investment Management Co. reduced its position in Arch Capital Group Ltd. (NASDAQ:ACGL) by 1.9% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 23,324 shares of the insurance provider’s stock after selling 450 shares during the period. Hartford Investment Management Co.’s holdings in Arch Capital Group were worth $2,154,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in ACGL. Quantbot Technologies LP acquired a new position in Arch Capital Group during the third quarter worth approximately $25,000. Asset Dedication LLC boosted its holdings in shares of Arch Capital Group by 188.1% in the third quarter. Asset Dedication LLC now owns 435 shares of the insurance provider’s stock valued at $49,000 after acquiring an additional 284 shares during the period. Ashton Thomas Securities LLC purchased a new position in shares of Arch Capital Group during the third quarter worth approximately $50,000. Golden State Wealth Management LLC acquired a new position in shares of Arch Capital Group in the 4th quarter valued at $42,000. Finally, Y.D. More Investments Ltd raised its position in Arch Capital Group by 125.6% in the 4th quarter. Y.D. More Investments Ltd now owns 467 shares of the insurance provider’s stock valued at $43,000 after purchasing an additional 260 shares during the last quarter. 89.07% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have issued reports on ACGL. BMO Capital Markets raised their price objective on shares of Arch Capital Group from $98.00 to $104.00 and gave the stock a “market perform” rating in a research report on Wednesday, November 6th. Barclays lowered their price target on Arch Capital Group from $120.00 to $100.00 and set an “equal weight” rating on the stock in a report on Monday, January 6th. Keefe, Bruyette & Woods reduced their price objective on Arch Capital Group from $120.00 to $113.00 and set an “outperform” rating for the company in a research note on Thursday. Bank of America lowered their target price on 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. Finally, StockNews.com cut Arch Capital Group from a “buy” rating to a “hold” rating in a research note on Thursday, October 24th. Six investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $116.47.

Arch Capital Group Stock Performance

Shares of ACGL opened at $90.16 on Friday. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 0.17. Arch Capital Group Ltd. has a 52-week low of $83.91 and a 52-week high of $116.47. The company has a 50-day simple moving average of $92.72 and a 200-day simple moving average of $100.99. The company has a market capitalization of $33.92 billion, a PE ratio of 6.05, a P/E/G ratio of 1.53 and a beta of 0.64.

Arch Capital Group (NASDAQ:ACGL) last issued its earnings results on Monday, February 10th. The insurance provider reported $2.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.90 by $0.36. Arch Capital Group had a net margin of 33.86% and a return on equity of 18.94%. During the same period in the previous year, the firm earned $2.45 earnings per share. Equities research analysts predict that Arch Capital Group Ltd. will post 8.86 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.