Wall Street analysts expect Arch Capital Group Ltd. (NASDAQ:ACGL) to announce $1.37 billion in sales for the current quarter, according to Zacks. Two analysts have issued estimates for Arch Capital Group’s earnings, with estimates ranging from $1.30 billion to $1.45 billion. Arch Capital Group also reported sales of $1.37 billion during the same quarter last year. The firm is expected to report its next quarterly earnings report on Monday, February 11th.
According to Zacks, analysts expect that Arch Capital Group will report full year sales of $5.39 billion for the current financial year, with estimates ranging from $5.05 billion to $5.73 billion. For the next financial year, analysts anticipate that the firm will post sales of $5.68 billion, with estimates ranging from $5.38 billion to $5.98 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that that provide coverage for Arch Capital Group.
Arch Capital Group (NASDAQ:ACGL) last announced its quarterly earnings data on Tuesday, October 30th. The insurance provider reported $0.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.52 by $0.07. The business had revenue of $1.33 billion for the quarter, compared to analysts’ expectations of $1.19 billion. Arch Capital Group had a return on equity of 10.30% and a net margin of 15.15%. The company’s revenue for the quarter was up .6% compared to the same quarter last year. During the same period last year, the firm earned ($0.13) earnings per share.
A number of analysts have recently commented on ACGL shares. BidaskClub cut Arch Capital Group from a “sell” rating to a “strong sell” rating in a research report on Thursday, September 27th. Wells Fargo & Co reaffirmed a “hold” rating and issued a $30.00 price objective on shares of Arch Capital Group in a report on Wednesday, October 31st. Zacks Investment Research lowered Arch Capital Group from a “buy” rating to a “hold” rating in a report on Friday, October 5th. Finally, Morgan Stanley set a $22.00 price target on Arch Capital Group and gave the stock a “hold” rating in a research note on Wednesday, November 14th. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $29.60.
Arch Capital Group stock opened at $27.74 on Friday. Arch Capital Group has a 1-year low of $25.71 and a 1-year high of $31.59. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.53 and a current ratio of 0.53. The firm has a market capitalization of $11.31 billion, a price-to-earnings ratio of 25.93, a price-to-earnings-growth ratio of 1.15 and a beta of 0.67.
In other Arch Capital Group news, Director Yiorgos Lillikas sold 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 31st. The shares were sold at an average price of $28.49, for a total value of $56,980.00. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director John D. Vollaro sold 10,500 shares of the firm’s stock in a transaction that occurred on Monday, September 10th. The shares were 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 90 days, insiders sold 47,666 shares of company stock worth $1,410,330. Company insiders own 5.10% of the company’s stock.
Several institutional investors have recently bought and sold shares of ACGL. Artisan Partners Limited Partnership boosted its holdings in Arch Capital Group by 200.9% during the second quarter. Artisan Partners Limited Partnership now owns 54,463,667 shares of the insurance provider’s stock worth $1,441,109,000 after buying an additional 36,361,761 shares in the last quarter. Vanguard Group Inc. lifted its position in Arch Capital Group by 0.4% in the 3rd quarter. Vanguard Group Inc. now owns 33,874,589 shares of the insurance provider’s stock worth $1,009,802,000 after buying an additional 144,152 shares in the last quarter. BlackRock Inc. lifted its position in Arch Capital Group by 2.6% in the 3rd quarter. BlackRock Inc. now owns 26,717,583 shares of the insurance provider’s stock worth $796,451,000 after buying an additional 675,926 shares in the last quarter. Capital International Investors bought a new position in shares of Arch Capital Group during the 3rd quarter valued at $393,068,000. Finally, FMR LLC raised its holdings in shares of Arch Capital Group by 0.4% during the 3rd quarter. FMR LLC now owns 6,288,406 shares of the insurance provider’s stock valued at $187,457,000 after purchasing an additional 26,380 shares in the last quarter. Institutional investors and hedge funds own 80.63% of the company’s stock.
Arch Capital Group Company Profile
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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