Arch Capital Group (NASDAQ:ACGL) Announces Earnings Results

Arch Capital Group (NASDAQ:ACGL) released its quarterly earnings results on Tuesday. The insurance provider reported $2.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.31 by $0.36, FiscalAI reports. The firm had revenue of $4.66 billion for the quarter, compared to the consensus estimate of $4.06 billion. During the same quarter last year, the company earned $2.77 earnings per share.

Arch Capital Group Stock Performance

NASDAQ ACGL opened at $100.34 on Wednesday. The firm has a 50-day simple moving average of $97.62 and a 200 day simple moving average of $96.63. Arch Capital Group has a twelve month low of $82.44 and a twelve month high of $107.08. The stock has a market cap of $34.24 billion, a PE ratio of 7.85 and a beta of 0.28.

Analysts Set New Price Targets

Several research firms recently weighed in on ACGL. Citigroup reissued a “market outperform” rating on shares of Arch Capital Group in a research report on Wednesday. UBS Group reaffirmed a “buy” rating and issued a $120.00 target price (up from $114.00) on shares of Arch Capital Group in a report on Wednesday, July 8th. Mizuho set a $100.00 price target on Arch Capital Group and gave the stock a “neutral” rating in a research report on Wednesday, September 16th. Royal Bank Of Canada reiterated an “outperform” rating and set a $120.00 price target (up from $115.00) on shares of Arch Capital Group in a report on Thursday, July 30th. Finally, Morgan Stanley set a $100.00 price objective on Arch Capital Group and gave the company an “equal weight” rating in a research report on Tuesday, October 13th. Six analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $108.39.

Insiders Place Their Bets

In other Arch Capital Group news, CFO Francois Morin sold 11,010 shares of the firm’s stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $99.32, for a total value of $1,093,513.20. Following the completion of the sale, the chief financial officer owned 184,826 shares in the company, valued at approximately $18,356,918.32. This trade represents a 5.62% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.30% of the stock is currently owned by company insiders.

Arch Capital Group Company Profile

Arch Capital Group Ltd. is a Bermuda-based insurance, reinsurance and mortgage insurance company whose shares trade on the Nasdaq under the symbol ACGL. The company was established in 1995 and has developed into a global provider of specialty risk-management products and services.

Through its insurance operations, Arch offers property, casualty, specialty, and accident and health coverage to businesses and other policyholders. Its reinsurance operations provide coverage and risk-transfer solutions to insurance companies across a range of property and casualty lines.