Arch Capital Group (NASDAQ:ACGL) Issues Earnings Results, Beats Expectations By $0.09 EPS

Arch Capital Group (NASDAQ:ACGL) announced its quarterly earnings results on Tuesday. The insurance provider reported $2.56 earnings per share for the quarter, beating analysts’ consensus estimates of $2.47 by $0.09, Zacks reports. Arch Capital Group had a return on equity of 17.06% and a net margin of 24.40%.The business had revenue of $8.72 billion during the quarter, compared to analysts’ expectations of $4.36 billion. During the same quarter last year, the business posted $2.58 earnings per share.

Arch Capital Group Stock Down 4.2%

NASDAQ:ACGL traded down $4.39 during trading hours on Thursday, hitting $100.16. 720,214 shares of the stock traded hands, compared to its average volume of 2,132,356. The firm has a 50 day moving average price of $96.32 and a 200 day moving average price of $96.03. The firm has a market cap of $34.99 billion, a price-to-earnings ratio of 7.83, a PEG ratio of 5.30 and a beta of 0.31. Arch Capital Group has a fifty-two week low of $82.44 and a fifty-two week high of $107.08. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 0.15.

Insiders Place Their Bets

In related news, Director Brian S. Posner sold 3,000 shares of the stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $19.66, for a total value of $58,980.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 3.30% of the company’s stock.

Institutional Trading of Arch Capital Group

Several institutional investors have recently made changes to their positions in the stock. WealthCollab LLC lifted its position in Arch Capital Group by 410.3% in the 3rd quarter. WealthCollab LLC now owns 296 shares of the insurance provider’s stock worth $27,000 after buying an additional 238 shares in the last quarter. JPL Wealth Management LLC acquired a new stake in Arch Capital Group during the third quarter valued at $28,000. Zions Bancorporation National Association UT increased its position in Arch Capital Group by 390.9% in the 4th quarter. Zions Bancorporation National Association UT now owns 324 shares of the insurance provider’s stock worth $31,000 after purchasing an additional 258 shares during the last quarter. Johnson Financial Group Inc. raised its stake in shares of Arch Capital Group by 448.4% during the 3rd quarter. Johnson Financial Group Inc. now owns 510 shares of the insurance provider’s stock worth $46,000 after purchasing an additional 417 shares in the last quarter. Finally, DV Equities LLC acquired a new stake in shares of Arch Capital Group during the 4th quarter valued at about $48,000. 89.07% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. Barclays boosted their price target on Arch Capital Group from $104.00 to $106.00 and gave the stock an “equal weight” rating in a research report on Wednesday, April 8th. JPMorgan Chase & Co. increased their price objective on shares of Arch Capital Group from $110.00 to $116.00 and gave the stock a “neutral” rating in a report on Monday, July 20th. Keefe, Bruyette & Woods cut their target price on Arch Capital Group from $102.00 to $99.00 and set a “market perform” rating on the stock in a research note on Wednesday, July 8th. Mizuho raised their price target on Arch Capital Group from $101.00 to $104.00 and gave the company a “neutral” rating in a report on Thursday, July 9th. Finally, Citigroup reaffirmed a “market outperform” rating on shares of Arch Capital Group in a report on Wednesday. Eight equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $110.39.

About Arch Capital Group

Arch Capital Group Ltd. (NASDAQ: ACGL) is a Bermuda-based insurance and reinsurance holding company that underwrites a broad range of property and casualty, mortgage, and specialty risk products. The company operates through a group of underwriting subsidiaries and platforms to provide insurance, reinsurance and related risk solutions tailored to commercial, institutional and individual clients.

Arch’s product mix includes treaty and facultative reinsurance, primary casualty and property insurance, mortgage insurance and other specialty lines.