Arch Capital Group (NASDAQ:ACGL) Issues Quarterly Earnings Results

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

Arch Capital Group Trading Down 2.5 %

Arch Capital Group stock opened at $95.78 on Thursday. Arch Capital Group has a one year low of $72.85 and a one year high of $103.79. The company’s fifty day moving average price is $99.32 and its two-hundred day moving average price is $92.94. The company has a market capitalization of $35.96 billion, a price-to-earnings ratio of 7.56, a PEG ratio of 1.64 and a beta of 0.58. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.59 and a quick ratio of 0.59.

Analysts Set New Price Targets

A number of brokerages have issued reports on ACGL. JPMorgan Chase & Co. raised their target price on shares of Arch Capital Group from $106.00 to $108.00 and gave the stock a “neutral” rating in a report on Wednesday. JMP Securities raised their target price on Arch Capital Group from $110.00 to $115.00 and gave the company a “market outperform” rating in a research note on Wednesday. Wells Fargo & Company boosted their price objective on Arch Capital Group from $109.00 to $110.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 1st. Bank of America lowered their target price on Arch Capital Group from $119.00 to $118.00 and set a “buy” rating on the stock in a research report on Thursday, July 11th. Finally, Roth Mkm reiterated a “buy” rating and set a $110.00 price target on shares of Arch Capital Group in a research report on Tuesday, April 30th. Five equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $103.60.

Insider Activity at Arch Capital Group

In other news, CEO David Gansberg sold 10,000 shares of the business’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $96.64, for a total value of $966,400.00. Following the completion of the sale, the chief executive officer now directly owns 228,035 shares in the company, valued at $22,037,302.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 4.20% of the stock is owned by company insiders.

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.