Arch Capital Group (NASDAQ:ACGL) Issues Earnings Results, Beats Expectations By $0.05 EPS

Arch Capital Group (NASDAQ:ACGL) issued its quarterly earnings data on Wednesday. The insurance provider reported $1.99 earnings per share for the quarter, beating the consensus estimate of $1.94 by $0.05, Briefing.com reports. Arch Capital Group had a net margin of 33.86% and a return on equity of 19.65%. The company had revenue of $4.72 billion for the quarter, compared to analyst estimates of $4.05 billion. During the same period in the prior year, the firm earned $2.31 earnings per share.

Arch Capital Group Price Performance

Shares of ACGL stock opened at $98.56 on Friday. The business has a fifty day simple moving average of $110.69 and a 200 day simple moving average of $102.66. The company has a market cap of $37.06 billion, a P/E ratio of 6.61, a P/E/G ratio of 1.94 and a beta of 0.59. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 0.16. Arch Capital Group has a twelve month low of $72.85 and a twelve month high of $116.47.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on ACGL shares. Jefferies Financial Group increased their price target on shares of Arch Capital Group from $114.00 to $134.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Keefe, Bruyette & Woods lifted their price target on Arch Capital Group from $120.00 to $121.00 and gave the stock an “outperform” rating in a report on Wednesday, August 7th. Roth Mkm upped their price objective on Arch Capital Group from $110.00 to $125.00 and gave the company a “buy” rating in a report on Friday, August 23rd. Evercore ISI upped their price target on shares of Arch Capital Group from $104.00 to $107.00 and gave the company an “in-line” rating in a research note on Wednesday, October 9th. Finally, Citigroup upped their price target on shares of Arch Capital Group from $105.00 to $114.00 and gave the company a “neutral” rating in a research note on Tuesday, September 10th. Five equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $119.53.

Insider Buying and Selling at Arch Capital Group

In other news, CFO Francois Morin sold 11,460 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $102.46, for a total value of $1,174,191.60. Following the sale, the chief financial officer now directly owns 221,779 shares in the company, valued at approximately $22,723,476.34. This trade represents a 0.00 % decrease in their position. 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.