Arch Capital Group Ltd. (NASDAQ:ACGL) – Investment analysts at Langen Mcalenn cut their Q3 2017 earnings per share (EPS) estimates for Arch Capital Group in a research note issued on Friday. Langen Mcalenn analyst R. Glasspiegel now expects that the insurance provider will earn $1.20 per share for the quarter, down from their previous forecast of $1.23. Langen Mcalenn also issued estimates for Arch Capital Group’s Q4 2017 earnings at $1.51 EPS, FY2017 earnings at $5.35 EPS, Q1 2018 earnings at $1.51 EPS, Q2 2018 earnings at $1.51 EPS, Q3 2018 earnings at $1.33 EPS, Q4 2018 earnings at $1.56 EPS and FY2018 earnings at $5.90 EPS.
Several other analysts also recently weighed in on ACGL. Wells Fargo & Company reissued a “hold” rating on shares of Arch Capital Group in a research note on Wednesday, July 26th. BidaskClub cut shares of Arch Capital Group from a “hold” rating to a “sell” rating in a research report on Saturday, June 10th. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $95.00 price target on shares of Arch Capital Group in a research report on Tuesday, July 4th. Zacks Investment Research cut shares of Arch Capital Group from a “hold” rating to a “sell” rating in a research report on Tuesday, June 27th. Finally, Morgan Stanley boosted their price target on shares of Arch Capital Group from $90.00 to $96.00 and gave the company an “equal weight” rating in a research report on Friday, April 28th. One equities research 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. 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 97.26 on Monday. Arch Capital Group has a 52-week low of $71.96 and a 52-week high of $99.47. The stock has a market capitalization of $13.08 billion, a price-to-earnings ratio of 17.69 and a beta of 0.66. The company has a 50-day moving average of $95.39 and a 200-day moving average of $94.31.
Arch Capital Group (NASDAQ:ACGL) last posted its quarterly earnings data on Wednesday, July 26th. The insurance provider reported $1.21 earnings per share for the quarter, beating analysts’ consensus estimates of $1.20 by $0.01. Arch Capital Group had a net margin of 15.65% and a return on equity of 9.09%. The firm had revenue of $1.25 billion for the quarter, compared to analyst estimates of $1.28 billion. During the same period last year, the firm posted $1.13 EPS. Arch Capital Group’s quarterly revenue was up 22.0% on a year-over-year basis.
In related news, CEO Constantine Iordanou sold 37,168 shares of Arch Capital Group stock in a transaction dated Monday, May 22nd. The shares were sold at an average price of $95.52, for a total transaction of $3,550,287.36. Following the completion of the sale, the chief executive officer now owns 178,072 shares in the company, valued at approximately $17,009,437.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Mark Donald Lyons sold 8,266 shares of Arch Capital Group stock in a transaction dated Monday, June 12th. The shares were sold at an average price of $93.53, for a total transaction of $773,118.98. The disclosure for this sale can be found here. Insiders sold a total of 163,789 shares of company stock valued at $15,639,880 in the last 90 days. Company insiders own 6.60% of the company’s stock.
A number of large investors have recently made changes to their positions in ACGL. Proficio Capital Partners LLC raised its stake in shares of Arch Capital Group by 75.5% in the first quarter. Proficio Capital Partners LLC now owns 1,095 shares of the insurance provider’s stock worth $104,000 after buying an additional 471 shares during the last quarter. Toronto Dominion Bank raised its stake in shares of Arch Capital Group by 26.5% in the first quarter. Toronto Dominion Bank now owns 1,343 shares of the insurance provider’s stock worth $127,000 after buying an additional 281 shares during the last quarter. Parallel Advisors LLC raised its stake in shares of Arch Capital Group by 13.1% in the first quarter. Parallel Advisors LLC now owns 1,350 shares of the insurance provider’s stock worth $130,000 after buying an additional 156 shares during the last quarter. Crow Point Partners LLC bought a new stake in shares of Arch Capital Group during the second quarter worth $174,000. Finally, Atria Investments LLC bought a new stake in shares of Arch Capital Group during the second quarter worth $203,000. Institutional investors own 73.13% of the company’s stock.
Arch Capital Group Company Profile
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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