Analysts Anticipate Arch Capital Group Ltd. (NASDAQ:ACGL) Will Post Quarterly Sales of $1.14 Billion
Equities analysts expect Arch Capital Group Ltd. (NASDAQ:ACGL) to announce $1.14 billion in sales for the current quarter, Zacks Investment Research reports. Two analysts have issued estimates for Arch Capital Group’s earnings. The lowest sales estimate is $1.13 billion and the highest is $1.14 billion. Arch Capital Group reported sales of $1.08 billion in the same quarter last year, which indicates a positive year-over-year growth rate of 5.6%. The firm is scheduled to announce its next quarterly earnings report on Wednesday, October 25th.
According to Zacks, analysts expect that Arch Capital Group will report full year sales of $1.14 billion for the current fiscal year, with estimates ranging from $4.54 billion to $5.03 billion. For the next year, analysts forecast that the company will report sales of $4.67 billion per share, with estimates ranging from $4.61 billion to $4.73 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of analysts that that provide coverage for Arch Capital Group.
Arch Capital Group (NASDAQ:ACGL) last posted 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. Arch Capital Group had a return on equity of 9.09% and a net margin of 15.65%. The company had revenue of $1.25 billion during the quarter, compared to the consensus estimate of $1.28 billion. During the same quarter in the prior year, the company earned $1.13 EPS. The firm’s quarterly revenue was up 22.0% compared to the same quarter last year.
A number of research firms have recently weighed in on ACGL. Wells Fargo & Company reaffirmed a “hold” rating on shares of Arch Capital Group in a research note on Wednesday, April 26th. Morgan Stanley increased their price target on Arch Capital Group from $90.00 to $96.00 and gave the company an “equal weight” rating in a research note on Friday, April 28th. BidaskClub downgraded Arch Capital Group from a “hold” rating to a “sell” rating in a research report on Saturday, June 10th. Zacks Investment Research downgraded Arch Capital Group from a “hold” rating to a “sell” rating in a research report on Tuesday, June 27th. Finally, Keefe, Bruyette & Woods restated a “hold” rating and set a $95.00 price objective on shares of Arch Capital Group in a research report on Tuesday, July 4th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have issued a buy rating to the company. Arch Capital Group presently has an average rating of “Hold” and a consensus target price of $92.09.
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Arch Capital Group (NASDAQ ACGL) opened at 97.27 on Tuesday. Arch Capital Group has a 52 week low of $73.97 and a 52 week high of $99.47. The firm has a 50-day moving average price of $95.50 and a 200 day moving average price of $94.38. The company has a market cap of $13.08 billion, a P/E ratio of 17.69 and a beta of 0.67.
In other Arch Capital Group news, insider Louis T. Petrillo sold 2,990 shares of the firm’s stock in a transaction on Wednesday, May 24th. The stock was sold at an average price of $94.98, for a total transaction of $283,990.20. Following the transaction, the insider now directly owns 56,268 shares in the company, valued at approximately $5,344,334.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Mark Donald Lyons sold 8,266 shares of the firm’s stock in a transaction on Monday, June 12th. The stock was sold at an average price of $93.53, for a total value of $773,118.98. The disclosure for this sale can be found here. Insiders have sold a total of 191,256 shares of company stock worth $18,352,593 over the last 90 days. 6.60% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Legal & General Group Plc increased its position in Arch Capital Group by 7.7% in the first quarter. Legal & General Group Plc now owns 677,060 shares of the insurance provider’s stock valued at $64,162,000 after buying an additional 48,635 shares during the last quarter. Commerzbank Aktiengesellschaft FI increased its position in Arch Capital Group by 151.7% in the first quarter. Commerzbank Aktiengesellschaft FI now owns 11,604 shares of the insurance provider’s stock valued at $1,100,000 after buying an additional 6,994 shares during the last quarter. Eagle Asset Management Inc. increased its position in Arch Capital Group by 87.0% in the first quarter. Eagle Asset Management Inc. now owns 114,756 shares of the insurance provider’s stock valued at $9,383,000 after buying an additional 53,384 shares during the last quarter. Principal Financial Group Inc. increased its position in Arch Capital Group by 0.7% in the first quarter. Principal Financial Group Inc. now owns 1,819,732 shares of the insurance provider’s stock valued at $172,456,000 after buying an additional 12,071 shares during the last quarter. Finally, Nomura Asset Management Co. Ltd. increased its position in Arch Capital Group by 33.5% in the first quarter. Nomura Asset Management Co. Ltd. now owns 75,053 shares of the insurance provider’s stock valued at $7,113,000 after buying an additional 18,822 shares during the last quarter. Institutional investors own 70.23% 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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