Arch Capital Group (NASDAQ:ACGL) Posts Earnings Results, Beats Expectations By $0.39 EPS

Arch Capital Group (NASDAQ:ACGL) issued its quarterly earnings results on Monday. The insurance provider reported $2.45 earnings per share for the quarter, topping analysts’ consensus estimates of $2.06 by $0.39, Yahoo Finance reports. Arch Capital Group had a net margin of 33.65% and a return on equity of 23.02%. The company had revenue of $4.09 billion for the quarter, compared to the consensus estimate of $3.77 billion. During the same period in the previous year, the firm earned $1.73 EPS. The firm’s quarterly revenue was up 19.3% on a year-over-year basis.

Arch Capital Group Price Performance

NASDAQ:ACGL traded up $2.26 during trading hours on Wednesday, hitting $95.80. The stock had a trading volume of 2,438,832 shares, compared to its average volume of 1,736,980. The company has a 50 day simple moving average of $90.60 and a two-hundred day simple moving average of $84.56. The firm has a market capitalization of $35.94 billion, a price-to-earnings ratio of 8.24, a P/E/G ratio of 1.14 and a beta of 0.57. 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 has a one year low of $69.05 and a one year high of $96.57.

Insider Transactions at Arch Capital Group

In other Arch Capital Group news, CFO Francois Morin sold 25,689 shares of the firm’s stock in a transaction dated Thursday, March 7th. The stock was 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 approximately $19,399,009.13. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Arch Capital Group news, CFO Francois Morin sold 25,689 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the chief financial officer now owns 221,779 shares of the company’s stock, valued at approximately $19,399,009.13. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Maamoun Rajeh sold 50,000 shares of the firm’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $87.48, for a total transaction of $4,374,000.00. Following the sale, the chief executive officer now owns 336,170 shares in the company, valued at approximately $29,408,151.60. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 135,689 shares of company stock valued at $11,872,217. 4.20% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on ACGL. Royal Bank of Canada reiterated an “outperform” rating and issued a $98.00 target price on shares of Arch Capital Group in a research note on Friday, February 16th. TD Cowen started coverage on Arch Capital Group in a report on Wednesday, January 10th. They set an “outperform” rating and a $96.00 price objective for the company. Evercore ISI upped their price target on Arch Capital Group from $98.00 to $100.00 and gave the company an “in-line” rating in a research report on Tuesday. JPMorgan Chase & Co. lifted their price objective on Arch Capital Group from $88.00 to $92.00 and gave the stock a “neutral” rating in a report on Monday, April 8th. Finally, StockNews.com lowered shares of Arch Capital Group from a “buy” rating to a “hold” rating in a research report on Monday, March 11th. Five analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $100.67.

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.