Arch Capital Group (NASDAQ:ACGL) Posts Quarterly Earnings Results, Beats Expectations By $0.36 EPS

Arch Capital Group (NASDAQ:ACGL) posted its quarterly earnings data on Tuesday. The insurance provider reported $2.67 EPS for the quarter, beating the consensus estimate of $2.31 by $0.36, FiscalAI reports. Arch Capital Group had a net margin of 24.40% and a return on equity of 17.06%. The business had revenue of $4.66 billion during the quarter, compared to analyst estimates of $4.06 billion.

Arch Capital Group Stock Down 2.0%

Shares of NASDAQ:ACGL traded down $2.00 during trading hours on Tuesday, reaching $100.34. The stock had a trading volume of 1,839,613 shares, compared to its average volume of 2,350,017. Arch Capital Group has a 1 year low of $82.44 and a 1 year high of $107.08. The firm’s 50 day moving average is $97.57 and its 200-day moving average is $96.60. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.57 and a current ratio of 0.57. The stock has a market capitalization of $34.24 billion, a price-to-earnings ratio of 7.85, a P/E/G ratio of 3.06 and a beta of 0.28.

Insider Buying and Selling at Arch Capital Group

In related news, CFO Francois Morin sold 11,010 shares of the business’s stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $99.32, for a total transaction of $1,093,513.20. Following the completion of the transaction, the chief financial officer owned 184,826 shares in the company, valued at approximately $18,356,918.32. The trade was a 5.62% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 3.30% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have commented on ACGL shares. Morgan Stanley set a $100.00 price target on shares of Arch Capital Group and gave the company an “equal weight” rating in a research report on Tuesday, October 13th. JPMorgan Chase & Co. cut their price target on Arch Capital Group from $118.00 to $113.00 and set a “neutral” rating on the stock in a report on Friday, October 9th. Wells Fargo & Company reaffirmed an “overweight” rating and issued a $107.00 price target (down from $117.00) on shares of Arch Capital Group in a research report on Monday, October 12th. Weiss Ratings raised Arch Capital Group from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, October 9th. Finally, Citigroup reiterated a “market outperform” rating on shares of Arch Capital Group in a research note on Wednesday, July 29th. Six equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Arch Capital Group presently has a consensus rating of “Hold” and a consensus price target of $108.39.

Arch Capital Group Company Profile

Arch Capital Group Ltd. is a Bermuda-based insurance, reinsurance and mortgage insurance company whose shares trade on the Nasdaq under the symbol ACGL. The company was established in 1995 and has developed into a global provider of specialty risk-management products and services.

Through its insurance operations, Arch offers property, casualty, specialty, and accident and health coverage to businesses and other policyholders. Its reinsurance operations provide coverage and risk-transfer solutions to insurance companies across a range of property and casualty lines.