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

Arch Capital Group (NASDAQ:ACGL) posted its earnings results on Tuesday. The insurance provider reported $2.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.21 by $0.36, Briefing.com reports. The company had revenue of $3.78 billion during the quarter, compared to the consensus estimate of $3.89 billion. Arch Capital Group had a net margin of 35.19% and a return on equity of 22.39%. The firm’s quarterly revenue was up 10.3% on a year-over-year basis. During the same period in the previous year, the firm posted $1.92 earnings per share.

Arch Capital Group Trading Up 1.8 %

Shares of ACGL stock traded up $1.78 during trading hours on Friday, hitting $98.88. The company had a trading volume of 99,163 shares, compared to its average volume of 1,659,916. The company’s fifty day moving average is $99.22 and its 200 day moving average is $92.97. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.59 and a quick ratio of 0.59. Arch Capital Group has a fifty-two week low of $72.85 and a fifty-two week high of $103.79. The stock has a market capitalization of $37.13 billion, a PE ratio of 7.66, a price-to-earnings-growth ratio of 1.60 and a beta of 0.58.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Wells Fargo & Company boosted their target price on shares of Arch Capital Group from $109.00 to $110.00 and gave the company an “overweight” rating in a research report on Wednesday, May 1st. JMP Securities upped their price objective on shares of Arch Capital Group from $110.00 to $115.00 and gave the stock a “market outperform” rating in a research report on Wednesday. Morgan Stanley boosted their target price on shares of Arch Capital Group from $104.00 to $109.00 and gave the stock an “overweight” rating in a research note on Monday, April 15th. StockNews.com cut shares of Arch Capital Group from a “buy” rating to a “hold” rating in a research note on Wednesday. Finally, Evercore ISI boosted their target price on shares of Arch Capital Group from $100.00 to $104.00 and gave the stock an “in-line” rating in a research note on Wednesday. Five analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $104.53.

Insider Transactions at Arch Capital Group

In other Arch Capital Group news, CEO David Gansberg sold 10,000 shares of the stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $96.64, for a total transaction of $966,400.00. Following the sale, the chief executive officer now directly owns 228,035 shares in the company, valued at approximately $22,037,302.40. The transaction was disclosed in a document filed with the SEC, which is available through this link. 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.