Arch Capital Group (NASDAQ:ACGL) Announces Quarterly Earnings Results, Beats Expectations By $0.64 EPS

Arch Capital Group (NASDAQ:ACGL) released its quarterly earnings results on Monday. The insurance provider reported $2.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.34 by $0.64, FiscalAI reports. Arch Capital Group had a net margin of 20.96% and a return on equity of 16.38%. The business had revenue of $3.80 billion for the quarter, compared to the consensus estimate of $3.94 billion. During the same period in the previous year, the firm earned $2.26 EPS.

Arch Capital Group Stock Performance

NASDAQ ACGL opened at $96.06 on Tuesday. The firm has a market cap of $34.83 billion, a P/E ratio of 8.99, a P/E/G ratio of 2.12 and a beta of 0.42. Arch Capital Group has a 52-week low of $82.44 and a 52-week high of $103.39. The business’s 50-day moving average price is $94.63 and its 200 day moving average price is $91.63. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 0.13.

Analyst Ratings Changes

Several brokerages have recently issued reports on ACGL. Royal Bank Of Canada set a $108.00 price target on shares of Arch Capital Group and gave the stock an “outperform” rating in a research report on Monday, November 24th. Keefe, Bruyette & Woods boosted their target price on Arch Capital Group from $100.00 to $102.00 and gave the stock a “market perform” rating in a research note on Tuesday, January 6th. Barclays set a $104.00 price target on Arch Capital Group and gave the company an “equal weight” rating in a research report on Thursday, January 8th. Cantor Fitzgerald restated an “overweight” rating and set a $97.00 target price (up from $93.00) on shares of Arch Capital Group in a research note on Wednesday, January 14th. Finally, The Goldman Sachs Group restated a “sell” rating and issued a $93.00 price objective (up from $84.00) on shares of Arch Capital Group in a report on Wednesday, January 7th. Nine investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $107.53.

Insider Buying and Selling

In related news, CFO Francois Morin sold 8,000 shares of Arch Capital Group stock in a transaction on Friday, November 28th. The shares were sold at an average price of $94.62, for a total value of $756,960.00. Following the transaction, the chief financial officer directly owned 266,681 shares in the company, valued at $25,233,356.22. This trade represents a 2.91% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider John M. Pasquesi sold 8,800 shares of the business’s stock in a transaction dated Monday, December 15th. The stock was sold at an average price of $94.17, for a total transaction of $828,696.00. Following the transaction, the insider owned 289,556 shares in the company, valued at approximately $27,267,488.52. This trade represents a 2.95% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 220,666 shares of company stock valued at $20,728,673 over the last ninety days. 4.10% of the stock is owned by insiders.

Hedge Funds Weigh In On Arch Capital Group

A number of large investors have recently modified their holdings of ACGL. WealthCollab LLC boosted its stake in shares of Arch Capital Group by 410.3% in the third quarter. WealthCollab LLC now owns 296 shares of the insurance provider’s stock valued at $27,000 after buying an additional 238 shares in the last quarter. JPL Wealth Management LLC purchased a new stake in shares of Arch Capital Group during the 3rd quarter worth $28,000. Johnson Financial Group Inc. grew 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 during the period. Geneos Wealth Management Inc. increased its holdings in shares of Arch Capital Group by 157.9% in the 1st quarter. Geneos Wealth Management Inc. now owns 673 shares of the insurance provider’s stock valued at $65,000 after purchasing an additional 412 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd lifted its stake in shares of Arch Capital Group by 104.5% in the third quarter. Caitong International Asset Management Co. Ltd now owns 871 shares of the insurance provider’s stock valued at $79,000 after purchasing an additional 445 shares during the period. 89.07% of the stock is owned by hedge funds and other institutional investors.

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.