Arch Capital Group Ltd. (ACGL) Set to Announce Earnings on Wednesday
Arch Capital Group Ltd. (NASDAQ:ACGL) is set to release its earnings data after the market closes on Wednesday, October 25th. Analysts expect Arch Capital Group to post earnings of $1.31 per share for the quarter.
Arch Capital Group (NASDAQ:ACGL) last released its quarterly earnings results on Wednesday, July 26th. The insurance provider reported $1.21 earnings per share for the quarter, topping the consensus estimate of $1.20 by $0.01. The firm had revenue of $1.25 billion for the quarter, compared to analysts’ expectations of $1.28 billion. Arch Capital Group had a net margin of 15.65% and a return on equity of 8.76%. The business’s quarterly revenue was up 22.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.13 earnings per share. On average, analysts expect Arch Capital Group to post $3.890 EPS for the current fiscal year and $6.050 EPS for the next fiscal year.
Arch Capital Group Ltd. (NASDAQ:ACGL) opened at 99.59 on Wednesday. The company has a market cap of $13.39 billion, a PE ratio of 18.11 and a beta of 0.66. The stock has a 50 day moving average of $97.59 and a 200 day moving average of $96.21. Arch Capital Group Ltd. has a 12-month low of $76.47 and a 12-month high of $100.91.
In other Arch Capital Group news, CEO Nicolas Papadopoulo sold 38,918 shares of Arch Capital Group stock in a transaction on Tuesday, September 12th. The shares were sold at an average price of $97.23, for a total value of $3,783,997.14. Following the sale, the chief executive officer now directly owns 182,035 shares in the company, valued at approximately $17,699,263.05. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Andrew Rippert sold 3,500 shares of Arch Capital Group stock in a transaction on Thursday, September 7th. The shares were sold at an average price of $94.25, for a total transaction of $329,875.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 195,579 shares of company stock worth $18,756,983. 6.60% of the stock is currently owned by insiders.
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A number of research analysts recently weighed in on the stock. Barclays PLC lifted their target price on shares of Arch Capital Group from $91.00 to $95.00 and gave the company an “equal weight” rating in a research note on Monday. Keefe, Bruyette & Woods restated a “hold” rating and set a $100.00 target price on shares of Arch Capital Group in a research note on Thursday, September 21st. Zacks Investment Research upgraded shares of Arch Capital Group from a “sell” rating to a “hold” rating in a report on Thursday, October 12th. Wells Fargo & Company reiterated a “hold” rating on shares of Arch Capital Group in a report on Wednesday, July 26th. Finally, UBS AG reduced their price target on shares of Arch Capital Group from $114.00 to $110.00 and set a “buy” rating on the stock in a report on Tuesday, September 19th. Eight equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $99.25.
Arch Capital Group Company Profile
Arch Capital Group Ltd. provides insurance, reinsurance and mortgage insurance. The Company provides a range of property, casualty and mortgage insurance and reinsurance lines. The Company operates in five segments: insurance, reinsurance, mortgage, other and corporate. The insurance segment’s product lines include construction and national accounts; excess and surplus casualty; lenders products; professional lines; programs; property, energy, marine and aviation; travel, accident and health, and other.
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