Arch Capital Group (NASDAQ:ACGL) Releases Quarterly Earnings Results, Beats Expectations By $0.39 EPS

Arch Capital Group (NASDAQ:ACGL) announced its earnings results on Monday. The insurance provider reported $2.45 EPS for the quarter, beating the consensus estimate of $2.06 by $0.39, Yahoo Finance reports. The business had revenue of $4.09 billion for the quarter, compared to the consensus estimate of $3.77 billion. Arch Capital Group had a return on equity of 21.85% and a net margin of 33.65%. The company’s revenue was up 19.3% on a year-over-year basis. During the same period last year, the business posted $1.73 EPS.

Arch Capital Group Trading Up 2.4 %

Shares of NASDAQ ACGL opened at $95.80 on Thursday. Arch Capital Group has a 12 month low of $69.05 and a 12 month high of $96.58. The company has a market cap of $35.94 billion, a price-to-earnings ratio of 7.56, a P/E/G ratio of 1.16 and a beta of 0.56. The company has a quick ratio of 0.57, a current ratio of 0.59 and a debt-to-equity ratio of 0.17. The business has a fifty day simple moving average of $90.60 and a 200-day simple moving average of $84.56.

Analyst Ratings Changes

A number of brokerages have weighed in on ACGL. Citigroup lowered their price objective on Arch Capital Group from $91.00 to $89.00 and set a “neutral” rating for the company in a research note on Monday, January 22nd. JMP Securities lifted their target price on Arch Capital Group from $100.00 to $110.00 and gave the stock a “market outperform” rating in a research report on Tuesday. Royal Bank of Canada reaffirmed an “outperform” rating and set a $98.00 target price on shares of Arch Capital Group in a research note on Friday, February 16th. Morgan Stanley lifted their target price on Arch Capital Group from $104.00 to $109.00 and gave the company an “overweight” rating in a research note on Monday, April 15th. Finally, JPMorgan Chase & Co. lifted their target price on Arch Capital Group from $88.00 to $92.00 and gave the company a “neutral” rating in a research note on Monday, April 8th. Four analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, Arch Capital Group has an average rating of “Moderate Buy” and an average target price of $100.67.

Insider Activity at Arch Capital Group

In related news, CFO Francois Morin sold 25,689 shares of the company’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $87.47, for a total transaction of $2,247,016.83. Following the transaction, the chief financial officer now directly owns 221,779 shares of the company’s stock, valued at $19,399,009.13. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Arch Capital Group news, CFO Francois Morin sold 25,689 shares of the company’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $87.47, for a total value of $2,247,016.83. Following the transaction, the chief financial officer now directly owns 221,779 shares of the company’s stock, valued at approximately $19,399,009.13. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Maamoun Rajeh sold 50,000 shares of the stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $87.48, for a total value of $4,374,000.00. Following the transaction, the chief executive officer now directly owns 336,170 shares in the company, valued at approximately $29,408,151.60. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 135,689 shares of company stock valued at $11,872,217. 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.