Brokers Offer Predictions for Arch Capital Group Ltd.'s Q3 2024 Earnings (NASDAQ:ACGL)

Arch Capital Group Ltd. (NASDAQ:ACGL - Free Report) - Equities researchers at Zacks Research boosted their Q3 2024 earnings per share estimates for Arch Capital Group in a research note issued to investors on Thursday, August 22nd. Zacks Research analyst T. De now anticipates that the insurance provider will post earnings per share of $1.71 for the quarter, up from their previous estimate of $1.64. The consensus estimate for Arch Capital Group's current full-year earnings is $9.00 per share. Zacks Research also issued estimates for Arch Capital Group's Q4 2024 earnings at $2.26 EPS, FY2024 earnings at $8.99 EPS, FY2025 earnings at $9.22 EPS and FY2026 earnings at $9.66 EPS.

Several other equities analysts have also commented on the company. JMP Securities raised their price target on Arch Capital Group from $110.00 to $115.00 and gave the company a "market outperform" rating in a research note on Wednesday, July 31st. Roth Mkm raised their price objective on Arch Capital Group from $110.00 to $125.00 and gave the company a "buy" rating in a research report on Friday. Keefe, Bruyette & Woods raised their price objective on Arch Capital Group from $120.00 to $121.00 and gave the company an "outperform" rating in a research report on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft raised their price objective on Arch Capital Group from $110.00 to $120.00 and gave the company a "buy" rating in a research report on Monday, July 1st. Finally, JPMorgan Chase & Co. raised their price objective on Arch Capital Group from $106.00 to $108.00 and gave the company a "neutral" rating in a research report on Wednesday, July 31st. Five research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, Arch Capital Group has an average rating of "Moderate Buy" and an average price target of $106.50.

Arch Capital Group Stock Up 0.4 %

Shares of Arch Capital Group stock traded up $0.47 during trading on Monday, hitting $109.49. 1,227,705 shares of the stock traded hands, compared to its average volume of 1,632,281. The firm has a market cap of $41.11 billion, a P/E ratio of 8.64, a price-to-earnings-growth ratio of 1.86 and a beta of 0.58. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 0.16. Arch Capital Group has a 52-week low of $72.85 and a 52-week high of $110.12. The stock's fifty day simple moving average is $99.41 and its 200 day simple moving average is $95.58.

Arch Capital Group (NASDAQ:ACGL - Get Free Report) last announced its quarterly earnings results on Tuesday, July 30th. The insurance provider reported $2.57 EPS for the quarter, beating the consensus estimate of $2.21 by $0.36. The firm had revenue of $3.78 billion for the quarter, compared to analyst estimates of $3.89 billion. Arch Capital Group had a return on equity of 21.42% and a net margin of 35.19%. The business's revenue for the quarter was up 10.3% on a year-over-year basis. During the same quarter last year, the firm posted $1.92 earnings per share.

Institutional Investors Weigh In On Arch Capital Group

A number of institutional investors and hedge funds have recently modified their holdings of ACGL. UMB Bank n.a. purchased a new position in Arch Capital Group during the second quarter valued at approximately $30,000. Baldwin Brothers LLC MA increased its position in shares of Arch Capital Group by 50.7% in the second quarter. Baldwin Brothers LLC MA now owns 309 shares of the insurance provider's stock valued at $31,000 after buying an additional 104 shares in the last quarter. Richardson Financial Services Inc. purchased a new stake in shares of Arch Capital Group in the fourth quarter valued at approximately $33,000. Rothschild Investment LLC purchased a new stake in shares of Arch Capital Group in the second quarter valued at approximately $35,000. Finally, LRI Investments LLC purchased a new stake in shares of Arch Capital Group in the first quarter valued at approximately $38,000. Institutional investors and hedge funds own 89.07% of the company's stock.

Insiders Place Their Bets

In related news, CFO Francois Morin sold 11,460 shares of Arch Capital Group stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $102.46, for a total transaction of $1,174,191.60. Following the completion of the sale, the chief financial officer now owns 221,779 shares of the company's stock, valued at $22,723,476.34. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 4.20% of the company's stock.

About Arch Capital Group

Arch Capital Group Ltd., together with its subsidiaries, provides insurance, reinsurance, and mortgage insurance products worldwide. The company's Insurance segment offers primary and excess casualty coverages; loss sensitive primary casualty insurance programs; 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.