Q2 2024 Earnings Forecast for Arch Capital Group Ltd. (NASDAQ:ACGL) Issued By Roth Capital

Arch Capital Group Ltd. (NASDAQ:ACGL) – Analysts at Roth Capital increased their Q2 2024 EPS estimates for shares of Arch Capital Group in a research note issued on Tuesday, April 30th. Roth Capital analyst H. Fong now expects that the insurance provider will earn $2.29 per share for the quarter, up from their prior estimate of $2.07. The consensus estimate for Arch Capital Group’s current full-year earnings is $8.03 per share. Roth Capital also issued estimates for Arch Capital Group’s Q3 2024 earnings at $2.01 EPS, Q1 2025 earnings at $2.46 EPS, Q2 2025 earnings at $2.58 EPS and Q3 2025 earnings at $2.32 EPS.

Arch Capital Group (NASDAQ:ACGL) last released its quarterly earnings data on Monday, April 29th. The insurance provider reported $2.45 earnings per share for the quarter, topping the consensus estimate of $2.06 by $0.39. Arch Capital Group had a net margin of 33.65% and a return on equity of 23.02%. The business had revenue of $4.09 billion for the quarter, compared to analyst estimates of $3.77 billion. During the same quarter last year, the firm earned $1.73 EPS. Arch Capital Group’s quarterly revenue was up 19.3% compared to the same quarter last year.

ACGL has been the topic of a number of other reports. Roth Mkm restated a “buy” rating and set a $110.00 target price on shares of Arch Capital Group in a report on Tuesday. JMP Securities lifted their price objective on shares of Arch Capital Group from $100.00 to $110.00 and gave the stock a “market outperform” rating in a research report on Tuesday. Wells Fargo & Company lifted their price objective on shares of Arch Capital Group from $109.00 to $110.00 and gave the stock an “overweight” rating in a research report on Wednesday. Royal Bank of Canada reaffirmed an “outperform” rating and set a $98.00 price objective on shares of Arch Capital Group in a research report on Friday, February 16th. Finally, Bank of America lifted their price objective on shares of Arch Capital Group from $105.00 to $109.00 and gave the stock a “buy” rating in a research report on Tuesday. Four investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, Arch Capital Group presently has a consensus rating of “Moderate Buy” and an average price target of $100.67.

Arch Capital Group Price Performance

NASDAQ ACGL opened at $95.80 on Wednesday. The company has a quick ratio of 0.57, a current ratio of 0.57 and a debt-to-equity ratio of 0.17. Arch Capital Group has a 12-month low of $69.05 and a 12-month high of $96.58. The company has a market capitalization of $35.94 billion, a PE ratio of 8.24, a price-to-earnings-growth ratio of 1.14 and a beta of 0.57. The firm’s 50 day moving average is $90.60 and its 200-day moving average is $84.56.

Insider Buying and Selling at Arch Capital Group

In other Arch Capital Group news, insider Nicolas Papadopoulo sold 60,000 shares of the stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $87.52, for a total transaction of $5,251,200.00. Following the transaction, the insider now directly owns 651,931 shares in the company, valued at approximately $57,057,001.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, CFO Francois Morin sold 25,689 shares of the stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $87.47, for a total value of $2,247,016.83. Following the transaction, the chief financial officer now directly owns 221,779 shares in the company, valued at approximately $19,399,009.13. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Nicolas Papadopoulo sold 60,000 shares of the stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $87.52, for a total value of $5,251,200.00. Following the completion of the transaction, the insider now owns 651,931 shares in the company, valued at $57,057,001.12. The disclosure for this sale can be found here. In the last 90 days, insiders sold 135,689 shares of company stock valued at $11,872,217. 4.20% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Arch Capital Group

Institutional investors and hedge funds have recently bought and sold shares of the stock. Capital World Investors increased its position in shares of Arch Capital Group by 0.6% during the 4th quarter. Capital World Investors now owns 10,611,092 shares of the insurance provider’s stock valued at $788,086,000 after purchasing an additional 58,862 shares during the last quarter. Principal Financial Group Inc. increased its holdings in Arch Capital Group by 11.4% in the 1st quarter. Principal Financial Group Inc. now owns 6,800,236 shares of the insurance provider’s stock worth $628,614,000 after acquiring an additional 693,608 shares during the last quarter. Davis Asset Management L.P. increased its holdings in Arch Capital Group by 441.7% in the 4th quarter. Davis Asset Management L.P. now owns 6,500,000 shares of the insurance provider’s stock worth $482,755,000 after acquiring an additional 5,300,000 shares during the last quarter. Allspring Global Investments Holdings LLC increased its holdings in Arch Capital Group by 1.7% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 5,907,122 shares of the insurance provider’s stock worth $546,054,000 after acquiring an additional 99,329 shares during the last quarter. Finally, Northern Trust Corp increased its holdings in Arch Capital Group by 9.2% in the 3rd quarter. Northern Trust Corp now owns 4,652,983 shares of the insurance provider’s stock worth $370,889,000 after acquiring an additional 390,362 shares during the last quarter. 89.07% of the stock is owned by hedge funds and other institutional investors.

Arch Capital Group Company Profile

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.