Hartford Funds Management Co LLC Increases Stock Position in Arch Capital Group Ltd. (NASDAQ:ACGL)

Hartford Funds Management Co LLC lifted its holdings in shares of Arch Capital Group Ltd. (NASDAQ:ACGL) by 8.2% in the fourth quarter, HoldingsChannel reports. The firm owned 4,478 shares of the insurance provider’s stock after acquiring an additional 340 shares during the period. Hartford Funds Management Co LLC’s holdings in Arch Capital Group were worth $333,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Householder Group Estate & Retirement Specialist LLC acquired a new stake in shares of Arch Capital Group during the 4th quarter worth about $27,000. Larson Financial Group LLC acquired a new stake in Arch Capital Group during the fourth quarter worth approximately $30,000. CVA Family Office LLC purchased a new stake in Arch Capital Group in the 4th quarter worth approximately $47,000. Covestor Ltd raised its holdings in Arch Capital Group by 342.9% in the 3rd quarter. Covestor Ltd now owns 899 shares of the insurance provider’s stock valued at $72,000 after acquiring an additional 696 shares during the last quarter. Finally, Operose Advisors LLC purchased a new position in shares of Arch Capital Group during the 3rd quarter worth $75,000. 89.07% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ACGL has been the subject of a number of recent analyst reports. Roth Mkm reaffirmed a “buy” rating and issued a $110.00 price objective on shares of Arch Capital Group in a research report on Tuesday. Bank of America upped their price objective on shares of Arch Capital Group from $105.00 to $109.00 and gave the company a “buy” rating in a research note on Tuesday. JMP Securities raised their target price on shares of Arch Capital Group from $100.00 to $110.00 and gave the stock a “market outperform” rating in a research report on Tuesday. Morgan Stanley upped their price target on shares of Arch Capital Group from $104.00 to $109.00 and gave the stock an “overweight” rating in a research report on Monday, April 15th. Finally, StockNews.com downgraded Arch Capital Group from a “buy” rating to a “hold” rating in a report on Monday, March 11th. Five research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $100.60.

Arch Capital Group Trading Up 2.5 %

NASDAQ ACGL traded up $2.29 on Tuesday, hitting $93.54. 3,310,880 shares of the stock were exchanged, compared to its average volume of 1,726,942. The company’s 50-day moving average price is $90.44 and its two-hundred day moving average price is $84.49. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.57 and a quick ratio of 0.57. Arch Capital Group Ltd. has a 52-week low of $69.05 and a 52-week high of $95.01. The company has a market capitalization of $35.09 billion, a price-to-earnings ratio of 8.05, a P/E/G ratio of 1.13 and a beta of 0.57.

Arch Capital Group (NASDAQ:ACGL) last posted its quarterly earnings results on Tuesday, April 30th. The insurance provider reported $2.45 earnings per share for the quarter, beating the consensus estimate of $2.06 by $0.39. Arch Capital Group had a return on equity of 21.94% and a net margin of 32.59%. The firm had revenue of $4.09 billion for the quarter, compared to analyst estimates of $3.77 billion. During the same period in the previous year, the firm earned $1.73 earnings per share. Arch Capital Group’s quarterly revenue was up 19.3% on a year-over-year basis. Research analysts predict that Arch Capital Group Ltd. will post 8.03 EPS for the current year.

Insider Activity

In other news, CFO Francois Morin sold 25,689 shares of the business’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $87.47, for a total value of $2,247,016.83. Following the sale, the chief financial officer now owns 221,779 shares of the company’s stock, valued at $19,399,009.13. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, insider Nicolas Papadopoulo sold 60,000 shares of the company’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $87.52, for a total transaction of $5,251,200.00. Following the sale, the insider now owns 651,931 shares in the company, valued at approximately $57,057,001.12. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Francois Morin sold 25,689 shares of the firm’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $87.47, for a total transaction of $2,247,016.83. Following the completion of the transaction, the chief financial officer now directly owns 221,779 shares of the company’s stock, valued at $19,399,009.13. The disclosure for this sale can be found here. Insiders have sold a total of 135,689 shares of company stock worth $11,872,217 over the last three months. Corporate insiders own 4.00% of the company’s stock.

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.