Wall Street analysts expect Arch Capital Group Ltd. (NASDAQ:ACGL) to report sales of $1.25 billion for the current quarter, according to Zacks Investment Research. Two analysts have provided estimates for Arch Capital Group’s earnings. The highest sales estimate is $1.27 billion and the lowest is $1.23 billion. Arch Capital Group posted sales of $1.38 billion during the same quarter last year, which would indicate a negative year over year growth rate of 9.4%. The firm is expected to announce its next earnings report on Wednesday, October 24th.
According to Zacks, analysts expect that Arch Capital Group will report full year sales of $4.97 billion for the current year, with estimates ranging from $4.91 billion to $5.03 billion. For the next financial year, analysts forecast that the business will report sales of $5.17 billion per share, with estimates ranging from $5.06 billion to $5.28 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that cover Arch Capital Group.
Arch Capital Group (NASDAQ:ACGL) last announced its quarterly earnings data on Tuesday, July 31st. The insurance provider reported $0.59 earnings per share for the quarter, topping analysts’ consensus estimates of $0.53 by $0.06. Arch Capital Group had a net margin of 10.47% and a return on equity of 6.86%. The company had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.24 billion. During the same period in the previous year, the business earned $1.21 EPS.
ACGL has been the subject of a number of recent analyst reports. Wells Fargo & Co restated a “hold” rating on shares of Arch Capital Group in a report on Monday, May 14th. Zacks Investment Research upgraded shares of Arch Capital Group from a “hold” rating to a “buy” rating and set a $32.00 target price for the company in a research note on Tuesday, July 17th. Bank of America boosted their target price on shares of Arch Capital Group from $28.00 to $30.00 and gave the company an “underperform” rating in a research note on Wednesday, August 1st. Credit Suisse Group started coverage on shares of Arch Capital Group in a research note on Tuesday, August 7th. They set a “neutral” rating and a $34.00 target price for the company. Finally, BidaskClub lowered shares of Arch Capital Group from a “strong-buy” rating to a “buy” rating in a research note on Monday, June 18th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $18.33.
In other Arch Capital Group news, CFO Francois Morin sold 1,938 shares of the business’s stock in a transaction on Monday, June 11th. The shares were sold at an average price of $83.11, for a total transaction of $161,067.18. Following the completion of the sale, the chief financial officer now directly owns 8,902 shares in the company, valued at approximately $739,845.22. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Andrew Rippert sold 6,170 shares of the business’s stock in a transaction on Friday, June 15th. The shares were sold at an average price of $80.88, for a total transaction of $499,029.60. Following the sale, the chief executive officer now owns 33,489 shares of the company’s stock, valued at $2,708,590.32. The disclosure for this sale can be found here. 5.10% of the stock is currently owned by insiders.
Institutional investors and hedge funds have recently made changes to their positions in the business. Global X Management Co. LLC grew its position in shares of Arch Capital Group by 105.9% during the 1st quarter. Global X Management Co. LLC now owns 17,171 shares of the insurance provider’s stock valued at $1,470,000 after acquiring an additional 8,830 shares during the period. Wells Fargo & Company MN grew its position in shares of Arch Capital Group by 13.4% during the 1st quarter. Wells Fargo & Company MN now owns 3,228,015 shares of the insurance provider’s stock valued at $276,285,000 after acquiring an additional 380,299 shares during the period. Dupont Capital Management Corp grew its position in shares of Arch Capital Group by 33.3% during the 1st quarter. Dupont Capital Management Corp now owns 12,213 shares of the insurance provider’s stock valued at $1,045,000 after acquiring an additional 3,049 shares during the period. Greenleaf Trust grew its position in shares of Arch Capital Group by 13.0% during the 1st quarter. Greenleaf Trust now owns 38,559 shares of the insurance provider’s stock valued at $3,300,000 after acquiring an additional 4,428 shares during the period. Finally, SG Americas Securities LLC grew its position in shares of Arch Capital Group by 37.1% during the 1st quarter. SG Americas Securities LLC now owns 15,323 shares of the insurance provider’s stock valued at $1,311,000 after acquiring an additional 4,147 shares during the period. Institutional investors and hedge funds own 80.58% of the company’s stock.
Shares of NASDAQ ACGL opened at $30.60 on Friday. Arch Capital Group has a twelve month low of $25.71 and a twelve month high of $34.20. The company has a market capitalization of $12.62 billion, a P/E ratio of 28.58, a PEG ratio of 1.27 and a beta of 0.69. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 0.31.
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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