Arch Capital Group (NASDAQ:ACGL) Releases Earnings Results, Beats Estimates By $0.36 EPS

Arch Capital Group (NASDAQ:ACGL) announced its quarterly earnings data on Tuesday. The insurance provider reported $2.57 earnings per share for the quarter, beating analysts’ consensus estimates of $2.21 by $0.36, Briefing.com reports. The business had revenue of $3.78 billion for the quarter, compared to analyst estimates of $3.89 billion. Arch Capital Group had a return on equity of 21.85% and a net margin of 33.65%. The company’s revenue was up 10.3% on a year-over-year basis. During the same period in the prior year, the company earned $1.92 earnings per share.

Arch Capital Group Stock Performance

Shares of ACGL stock opened at $98.20 on Wednesday. The company has a market capitalization of $36.87 billion, a P/E ratio of 7.75, a P/E/G ratio of 1.61 and a beta of 0.58. The business’s 50 day moving average is $99.46 and its two-hundred day moving average is $92.92. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 0.17. Arch Capital Group has a 12-month low of $72.85 and a 12-month high of $103.79.

Analyst Ratings Changes

ACGL has been the topic of a number of research reports. JMP Securities increased their price objective on Arch Capital Group from $100.00 to $110.00 and gave the company a “market outperform” rating in a report on Tuesday, April 30th. Roth Mkm reaffirmed a “buy” rating and set a $110.00 target price on shares of Arch Capital Group in a report on Tuesday, April 30th. Morgan Stanley raised their target price on Arch Capital Group from $104.00 to $109.00 and gave the stock an “overweight” rating in a report on Monday, April 15th. JPMorgan Chase & Co. raised their target price on Arch Capital Group from $96.00 to $106.00 and gave the stock a “neutral” rating in a report on Thursday, July 11th. Finally, Bank of America dropped their target price on Arch Capital Group from $119.00 to $118.00 and set a “buy” rating on the stock in a report on Thursday, July 11th. Four investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $102.87.

Insider Activity

In other news, CEO David Gansberg sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $96.64, for a total value of $966,400.00. Following the transaction, the chief executive officer now owns 228,035 shares in the company, valued at $22,037,302.40. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 4.20% 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.