Arch Capital Group Ltd. (NASDAQ:ACGL) Set to Announce Quarterly Earnings on Wednesday
Arch Capital Group Ltd. (NASDAQ:ACGL) will be issuing its quarterly earnings data after the market closes on Wednesday, July 26th. Analysts expect the company to announce earnings of $1.26 per share for the quarter.
Arch Capital Group (NASDAQ:ACGL) last released its quarterly earnings data on Tuesday, April 25th. The insurance provider reported $1.42 earnings per share for the quarter, topping analysts’ consensus estimates of $1.33 by $0.09. The firm had revenue of $1.23 billion during the quarter, compared to analyst estimates of $1.19 billion. Arch Capital Group had a return on equity of 8.85% and a net margin of 16.92%. During the same quarter in the prior year, the company posted $1.20 earnings per share. On average, analysts expect Arch Capital Group to post $5.34 EPS for the current fiscal year and $6.07 EPS for the next fiscal year.
Arch Capital Group Ltd. (NASDAQ ACGL) opened at 96.79 on Wednesday. The company has a market cap of $12.97 billion, a price-to-earnings ratio of 16.41 and a beta of 0.66. Arch Capital Group Ltd. has a 1-year low of $68.85 and a 1-year high of $99.21. The stock has a 50 day moving average price of $95.07 and a 200-day moving average price of $93.61.
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ACGL has been the subject of several recent analyst reports. Deutsche Bank AG lifted their price target on Arch Capital Group from $78.00 to $87.00 and gave the company a “hold” rating in a research note on Thursday, March 30th. Keefe, Bruyette & Woods set a $95.00 price target on Arch Capital Group and gave the company a “hold” rating in a research note on Thursday, April 6th. Wells Fargo & Company reiterated a “hold” rating on shares of Arch Capital Group in a report on Wednesday, April 26th. Morgan Stanley lifted their price objective on Arch Capital Group from $90.00 to $96.00 and gave the stock an “equal weight” rating in a report on Friday, April 28th. Finally, BidaskClub cut Arch Capital Group from a “hold” rating to a “sell” rating in a report on Saturday, June 10th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and five have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $92.09.
In other news, CFO Mark Donald Lyons sold 8,266 shares of the business’s stock in a transaction that occurred on Monday, June 12th. The stock was sold at an average price of $93.53, for a total transaction of $773,118.98. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director John D. Vollaro sold 2,033 shares of the business’s stock in a transaction that occurred on Monday, May 8th. The stock was sold at an average price of $97.32, for a total value of $197,851.56. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 166,700 shares of company stock worth $15,923,004. Insiders own 6.60% of the company’s stock.
About Arch Capital Group
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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