Arch Capital Group (NASDAQ:ACGL) Releases Earnings Results, Beats Estimates By $0.09 EPS

Arch Capital Group (NASDAQ:ACGL) issued its quarterly earnings data on Tuesday. The insurance provider reported $2.56 EPS for the quarter, beating the consensus estimate of $2.47 by $0.09, Zacks reports. The company had revenue of $8.72 billion during the quarter, compared to analysts’ expectations of $4.36 billion. Arch Capital Group had a net margin of 24.64% and a return on equity of 17.61%. During the same quarter in the previous year, the company earned $2.58 earnings per share.

Arch Capital Group Price Performance

Shares of NASDAQ:ACGL opened at $106.48 on Wednesday. The company’s fifty day moving average price is $96.17 and its 200-day moving average price is $95.97. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.55 and a quick ratio of 0.55. The firm has a market capitalization of $37.20 billion, a price-to-earnings ratio of 8.18, a PEG ratio of 5.17 and a beta of 0.31. Arch Capital Group has a one year low of $82.44 and a one year high of $107.09.

Insiders Place Their Bets

In related news, Director Brian S. Posner sold 3,000 shares of the company’s stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $19.66, for a total value of $58,980.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Daniel Joseph Houston acquired 5,300 shares of Arch Capital Group stock in a transaction dated Thursday, April 30th. The shares were purchased at an average price of $94.08 per share, for a total transaction of $498,624.00. Following the completion of the transaction, the director directly owned 9,915 shares in the company, valued at approximately $932,803.20. The trade was a 114.84% increase in their position. The SEC filing for this purchase provides additional information. Insiders own 3.30% of the company’s stock.

Hedge Funds Weigh In On Arch Capital Group

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Virtu Financial LLC bought a new stake in shares of Arch Capital Group in the fourth quarter worth about $346,000. Sunbelt Securities Inc. lifted its holdings in Arch Capital Group by 11.4% in the 4th quarter. Sunbelt Securities Inc. now owns 10,009 shares of the insurance provider’s stock worth $960,000 after buying an additional 1,026 shares during the period. Compound Planning Inc. lifted its holdings in Arch Capital Group by 9.4% in the 4th quarter. Compound Planning Inc. now owns 2,892 shares of the insurance provider’s stock worth $277,000 after buying an additional 248 shares during the period. Axxcess Wealth Management LLC grew its position in shares of Arch Capital Group by 8.6% in the 4th quarter. Axxcess Wealth Management LLC now owns 80,337 shares of the insurance provider’s stock worth $7,706,000 after buying an additional 6,329 shares during the last quarter. Finally, Corient Private Wealth LLC grew its position in shares of Arch Capital Group by 46.9% in the 4th quarter. Corient Private Wealth LLC now owns 65,966 shares of the insurance provider’s stock worth $6,327,000 after buying an additional 21,057 shares during the last quarter. 89.07% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Atlantic Securities set a $126.00 price target on shares of Arch Capital Group in a report on Wednesday, July 15th. Citigroup upped their price target on shares of Arch Capital Group from $120.00 to $122.50 and gave the stock a “buy” rating in a report on Thursday, April 30th. Weiss Ratings downgraded Arch Capital Group from a “buy (b)” rating to a “buy (b-)” rating in a research report on Monday, May 18th. JPMorgan Chase & Co. lifted their price objective on Arch Capital Group from $110.00 to $116.00 and gave the company a “neutral” rating in a research note on Monday, July 20th. Finally, UBS Group restated a “buy” rating and set a $120.00 target price (up from $114.00) on shares of Arch Capital Group in a research report on Wednesday, July 8th. Eight investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Arch Capital Group currently has a consensus rating of “Hold” and an average target price of $109.82.

Arch Capital Group Company Profile

Arch Capital Group Ltd. (NASDAQ: ACGL) is a Bermuda-based insurance and reinsurance holding company that underwrites a broad range of property and casualty, mortgage, and specialty risk products. The company operates through a group of underwriting subsidiaries and platforms to provide insurance, reinsurance and related risk solutions tailored to commercial, institutional and individual clients.

Arch’s product mix includes treaty and facultative reinsurance, primary casualty and property insurance, mortgage insurance and other specialty lines.