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

Arch Capital Group (NASDAQ:ACGL) announced its earnings results on Wednesday. The insurance provider reported $1.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.94 by $0.05, Briefing.com reports. The firm had revenue of $4.72 billion during the quarter, compared to analysts’ expectations of $4.05 billion. Arch Capital Group had a return on equity of 21.42% and a net margin of 35.19%. During the same period in the prior year, the firm earned $2.31 EPS.

Arch Capital Group Price Performance

Shares of NASDAQ ACGL traded down $3.89 during trading on Thursday, hitting $101.25. 966,248 shares of the company were exchanged, compared to its average volume of 1,626,579. The firm’s fifty day moving average price is $110.85 and its 200 day moving average price is $102.69. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.60 and a quick ratio of 0.60. The company has a market cap of $38.08 billion, a price-to-earnings ratio of 7.39, a PEG ratio of 1.95 and a beta of 0.59. Arch Capital Group has a 1 year low of $72.85 and a 1 year high of $116.47.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on ACGL. Roth Mkm increased 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 raised their price objective on shares of Arch Capital Group from $104.00 to $107.00 and gave the stock an “in-line” rating in a research report on Wednesday, October 9th. JMP Securities upped their target price on shares of Arch Capital Group from $115.00 to $125.00 and gave the company a “market outperform” rating in a report on Tuesday, October 15th. Wells Fargo & Company increased their target price on shares of Arch Capital Group from $110.00 to $126.00 and gave the stock an “overweight” rating in a research note on Thursday, October 10th. Finally, Barclays began coverage on Arch Capital Group in a research report on Wednesday, September 4th. They issued an “equal weight” rating and a $120.00 price target on the stock. Five analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, Arch Capital Group presently has an average rating of “Moderate Buy” and a consensus target price of $119.53.

Insider Activity at Arch Capital Group

In other Arch Capital Group news, CFO Francois Morin sold 11,460 shares of the company’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $102.46, for a total transaction of $1,174,191.60. Following the transaction, the chief financial officer now directly owns 221,779 shares in the company, valued at approximately $22,723,476.34. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 4.00% 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.