Arch Capital Group Ltd. (NASDAQ:ACGL) announced its quarterly earnings data on Monday. The company reported $1.13 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.97 by $0.16. Arch Capital Group had a return on equity of 8.32% and a net margin of 15.47%. During the same quarter in the previous year, the business posted $1.15 EPS.
Shares of Arch Capital Group (NASDAQ:ACGL) opened at 93.21 on Tuesday. The company has a market cap of $11.27 billion, a price-to-earnings ratio of 17.72 and a beta of 0.60. The firm’s 50-day moving average price is $88.30 and its 200 day moving average price is $82.17. Arch Capital Group has a 12-month low of $65.15 and a 12-month high of $93.78.
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In other news, CFO Mark Donald Lyons sold 3,500 shares of the business’s stock in a transaction that occurred on Thursday, December 15th. The stock was sold at an average price of $87.13, for a total transaction of $304,955.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Brian S. Posner bought 6,000 shares of the stock in a transaction dated Friday, November 18th. The shares were bought at an average price of $21.88 per share, for a total transaction of $131,280.00. Following the completion of the acquisition, the director now owns 6,000 shares in the company, valued at $131,280. The disclosure for this purchase can be found here. Over the last 90 days, insiders have sold 59,600 shares of company stock worth $5,174,109. Insiders own 6.30% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Sandy Spring Bank boosted its position in shares of Arch Capital Group by 151.9% in the third quarter. Sandy Spring Bank now owns 1,700 shares of the company’s stock valued at $135,000 after buying an additional 1,025 shares in the last quarter. Advisor Group Inc. boosted its position in shares of Arch Capital Group by 72.9% in the third quarter. Advisor Group Inc. now owns 1,783 shares of the company’s stock valued at $141,000 after buying an additional 752 shares in the last quarter. Hall Laurie J Trustee bought a new position in shares of Arch Capital Group during the fourth quarter valued at $192,000. Teza Capital Management LLC bought a new position in shares of Arch Capital Group during the fourth quarter valued at $286,000. Finally, PNC Financial Services Group Inc. boosted its position in shares of Arch Capital Group by 1.1% in the third quarter. PNC Financial Services Group Inc. now owns 3,547 shares of the company’s stock valued at $282,000 after buying an additional 40 shares in the last quarter. Institutional investors and hedge funds own 77.05% of the company’s stock.
ACGL has been the topic of a number of research reports. Zacks Investment Research raised Arch Capital Group from a “hold” rating to a “buy” rating and set a $90.00 price objective on the stock in a report on Monday, October 17th. BMO Capital Markets raised Arch Capital Group from a “market perform” rating to an “outperform” rating and set a $99.00 price objective on the stock in a report on Monday, December 12th. Credit Suisse Group upgraded Arch Capital Group from a “neutral” rating to an “outperform” rating and set a $100.00 price target on the stock in a research report on Friday, January 6th. Barclays PLC restated a “hold” rating and set a $86.00 price target on shares of Arch Capital Group in a research report on Monday, January 9th. Finally, Langen Mcalenn restated a “neutral” rating on shares of Arch Capital Group in a research report on Wednesday, January 18th. Eight analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Arch Capital Group currently has a consensus rating of “Hold” and a consensus price target of $87.09.
About Arch Capital Group
Arch Capital Group Ltd. writes insurance and reinsurance on worldwide basis. The Company operates in five segments: insurance, reinsurance, mortgage, other and corporate. The Company’s insurance, reinsurance and mortgage segments are underwriting segments. 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, which includes alternative market risks and excess workers’ compensation.
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