Arch Capital Group (NASDAQ:ACGL) released its quarterly earnings results on Tuesday. The insurance provider reported $0.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.52 by $0.07, MarketWatch Earnings reports. Arch Capital Group had a net margin of 15.15% and a return on equity of 10.41%. The firm had revenue of $1.33 billion during the quarter, compared to analyst estimates of $1.19 billion. During the same quarter last year, the business earned ($0.13) EPS. The company’s revenue was up .6% compared to the same quarter last year.
Shares of ACGL stock traded up $0.32 during trading hours on Thursday, hitting $28.69. 2,018,600 shares of the company were exchanged, compared to its average volume of 1,651,666. The company has a market cap of $11.20 billion, a price-to-earnings ratio of 26.81, a price-to-earnings-growth ratio of 1.13 and a beta of 0.69. Arch Capital Group has a fifty-two week low of $25.71 and a fifty-two week high of $33.10. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 0.31.
Several research analysts have issued reports on ACGL shares. BidaskClub lowered shares of Arch Capital Group from a “hold” rating to a “sell” rating in a report on Thursday, September 13th. Wells Fargo & Co restated a “hold” rating and set a $30.00 price target on shares of Arch Capital Group in a report on Wednesday. Zacks Investment Research lowered shares of Arch Capital Group from a “buy” rating to a “hold” rating in a report on Friday, October 5th. Bank of America raised their price target on shares of Arch Capital Group from $28.00 to $30.00 and gave the stock an “underperform” rating in a report on Wednesday, August 1st. Finally, Royal Bank of Canada restated a “buy” rating on shares of Arch Capital Group in a report on Thursday, August 2nd. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $27.64.
In other news, insider Louis T. Petrillo sold 9,573 shares of the firm’s stock in a transaction that occurred on Friday, September 14th. The shares were sold at an average price of $30.43, for a total transaction of $291,306.39. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John D. Vollaro sold 10,500 shares of the firm’s stock in a transaction that occurred on Monday, September 10th. The stock was sold at an average price of $30.06, for a total transaction of $315,630.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 35,073 shares of company stock valued at $1,056,936. Insiders own 5.10% of the company’s stock.
About Arch Capital Group
Arch Capital Group Ltd., together with its subsidiaries, provides property, casualty, and mortgage insurance and reinsurance products worldwide. The company's Insurance segment offers primary and excess casualty coverages; loss sensitive primary casualty insurance programs; collateral protection, debt cancellation, and service contract reimbursement products; 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.
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