Roth Capital Weighs in on Arch Capital Group Ltd.'s Q2 2024 Earnings (NASDAQ:ACGL)

Arch Capital Group Ltd. (NASDAQ:ACGL - Free Report) - Research analysts at Roth Capital upped their Q2 2024 earnings estimates for Arch Capital Group in a report released on Tuesday, April 30th. Roth Capital analyst H. Fong now forecasts 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 - Get Free Report) last issued its quarterly earnings data on Monday, April 29th. The insurance provider reported $2.45 earnings per share for the quarter, topping analysts' consensus estimates 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 during the quarter, compared to the consensus estimate of $3.77 billion. During the same quarter in the prior year, the firm posted $1.73 earnings per share. The company's revenue was up 19.3% compared to the same quarter last year.

ACGL has been the subject of several other reports. Deutsche Bank Aktiengesellschaft upped their target price on Arch Capital Group from $103.00 to $110.00 and gave the stock a "buy" rating in a research note on Tuesday. Royal Bank of Canada reaffirmed an "outperform" rating and set a $98.00 price objective on shares of Arch Capital Group in a report on Friday, February 16th. JPMorgan Chase & Co. lifted their target price on shares of Arch Capital Group from $88.00 to $92.00 and gave the company a "neutral" rating in a research report on Monday, April 8th. UBS Group reduced their price target on shares of Arch Capital Group from $101.00 to $97.00 and set a "buy" rating for the company in a research report on Wednesday, January 10th. Finally, StockNews.com cut Arch Capital Group from a "buy" rating to a "hold" rating in a report on Monday, March 11th. Five equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $100.67.

Arch Capital Group Price Performance

NASDAQ ACGL traded up $2.26 during trading hours on Wednesday, reaching $95.80. The company's stock had a trading volume of 2,578,302 shares, compared to its average volume of 1,737,544. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.57 and a quick ratio of 0.57. Arch Capital Group has a 1-year low of $69.05 and a 1-year high of $96.58. The company's 50-day moving average is $90.60 and its two-hundred day moving average is $84.56. The firm has a market capitalization of $35.94 billion, a price-to-earnings ratio of 8.24, a P/E/G ratio of 1.14 and a beta of 0.57.

Institutional Trading of Arch Capital Group

A number of large investors have recently bought and sold shares of ACGL. Davis Asset Management L.P. increased its holdings in shares of Arch Capital Group by 441.7% in the fourth quarter. Davis Asset Management L.P. now owns 6,500,000 shares of the insurance provider's stock valued at $482,755,000 after purchasing an additional 5,300,000 shares during the period. Norges Bank acquired a new position in Arch Capital Group during the 4th quarter worth approximately $309,496,000. Envestnet Asset Management Inc. raised its stake in shares of Arch Capital Group by 112.4% during the 3rd quarter. Envestnet Asset Management Inc. now owns 2,620,807 shares of the insurance provider's stock worth $208,905,000 after buying an additional 1,387,072 shares in the last quarter. Hsbc Holdings PLC lifted its holdings in shares of Arch Capital Group by 597.9% in the 3rd quarter. Hsbc Holdings PLC now owns 1,419,944 shares of the insurance provider's stock valued at $113,516,000 after buying an additional 1,216,498 shares during the period. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its stake in shares of Arch Capital Group by 61.6% in the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 3,191,282 shares of the insurance provider's stock valued at $237,017,000 after buying an additional 1,216,080 shares in the last quarter. Institutional investors and hedge funds own 89.07% of the company's stock.

Insiders Place Their Bets

In related news, CFO Francois Morin sold 25,689 shares of Arch Capital Group 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 completion of the transaction, the chief financial officer now directly owns 221,779 shares in the company, valued at $19,399,009.13. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Arch Capital Group news, CFO Francois Morin sold 25,689 shares of the company's stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $87.47, for a total transaction of $2,247,016.83. Following the sale, the chief financial officer now 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, CEO Maamoun Rajeh sold 50,000 shares of Arch Capital Group stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $87.48, for a total value of $4,374,000.00. Following the completion of the transaction, the chief executive officer now owns 336,170 shares of the company's stock, valued at approximately $29,408,151.60. The disclosure for this sale can be found here. Insiders sold a total of 135,689 shares of company stock worth $11,872,217 over the last 90 days. Corporate insiders own 4.20% of the company's stock.

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.