Arch Capital Group (NASDAQ:ACGL) Posts Earnings Results, Beats Estimates By $0.05 EPS

Arch Capital Group (NASDAQ:ACGL) issued its quarterly earnings data on Wednesday. The insurance provider reported $1.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.94 by $0.05, Briefing.com reports. The business had revenue of $4.72 billion for the quarter, compared to the consensus estimate of $4.05 billion. Arch Capital Group had a return on equity of 21.42% and a net margin of 35.19%. During the same period in the prior year, the business earned $2.31 earnings per share.

Arch Capital Group Trading Down 3.7 %

ACGL stock traded down $3.89 during midday trading on Thursday, reaching $101.25. 966,248 shares of the company’s stock traded hands, compared to its average volume of 1,626,579. 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 has a fifty-two week low of $72.85 and a fifty-two week high of $116.47. The business has a 50-day moving average price of $110.85 and a two-hundred day moving average price of $102.69. The company has a market capitalization of $38.08 billion, a P/E ratio of 7.39, a PEG ratio of 1.95 and a beta of 0.59.

Wall Street Analysts Forecast Growth

ACGL has been the topic of several analyst reports. Roth Mkm raised their price target on shares of Arch Capital Group from $110.00 to $125.00 and gave the stock a “buy” rating in a research note on Friday, August 23rd. Jefferies Financial Group lifted their target price on shares of Arch Capital Group from $114.00 to $134.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Evercore ISI increased their price target on Arch Capital Group from $104.00 to $107.00 and gave the stock an “in-line” rating in a research note on Wednesday, October 9th. Bank of America raised their price objective on Arch Capital Group from $119.00 to $135.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Finally, Keefe, Bruyette & Woods upped their target price on Arch Capital Group from $120.00 to $121.00 and gave the company an “outperform” rating in a research note on Wednesday, August 7th. Five research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $119.53.

Insider Transactions at Arch Capital Group

In related news, CFO Francois Morin sold 11,460 shares of the company’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 of the company’s stock, valued at approximately $22,723,476.34. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 4.00% of the company’s stock.

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.