Zacks Research Analysts Boost Earnings Estimates for Arch Capital Group Ltd. (NASDAQ:ACGL)

Arch Capital Group Ltd. (NASDAQ:ACGLFree Report) – Equities research analysts at Zacks Research upped their Q1 2024 earnings per share (EPS) estimates for Arch Capital Group in a note issued to investors on Wednesday, February 28th. Zacks Research analyst Z. Masood now anticipates that the insurance provider will earn $2.03 per share for the quarter, up from their previous estimate of $1.94. The consensus estimate for Arch Capital Group’s current full-year earnings is $8.03 per share. Zacks Research also issued estimates for Arch Capital Group’s Q2 2024 earnings at $2.02 EPS, Q3 2024 earnings at $1.55 EPS, Q4 2024 earnings at $2.17 EPS, FY2024 earnings at $7.78 EPS, Q1 2025 earnings at $2.19 EPS, Q2 2025 earnings at $2.22 EPS, Q4 2025 earnings at $2.33 EPS and FY2026 earnings at $8.74 EPS.

Arch Capital Group (NASDAQ:ACGLGet Free Report) last announced its earnings results on Thursday, February 15th. The insurance provider reported $2.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.94 by $0.55. Arch Capital Group had a net margin of 32.59% and a return on equity of 21.94%. The company had revenue of $3.98 billion for the quarter, compared to the consensus estimate of $3.67 billion. During the same period in the previous year, the business earned $2.14 EPS.

Several other brokerages also recently issued reports on ACGL. Evercore ISI boosted their target price on shares of Arch Capital Group from $85.00 to $92.00 and gave the company an “in-line” rating in a research note on Thursday, February 15th. UBS Group cut their target price on shares of Arch Capital Group from $101.00 to $97.00 and set a “buy” rating on the stock in a research note on Wednesday, January 10th. TD Cowen assumed coverage on shares of Arch Capital Group in a research note on Wednesday, January 10th. They set an “outperform” rating and a $96.00 target price on the stock. JPMorgan Chase & Co. upped their price target on shares of Arch Capital Group from $80.00 to $88.00 and gave the stock a “neutral” rating in a research note on Thursday, February 15th. Finally, Wells Fargo & Company increased their price objective on Arch Capital Group from $98.00 to $104.00 and gave the stock an “overweight” rating in a report on Friday, February 16th. Five analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $94.46.

Check Out Our Latest Stock Analysis on Arch Capital Group

Arch Capital Group Price Performance

Shares of NASDAQ:ACGL opened at $87.17 on Thursday. The company’s fifty day moving average is $80.97 and its two-hundred day moving average is $80.80. 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 $62.10 and a 12-month high of $90.65. The company has a market cap of $32.61 billion, a P/E ratio of 7.50, a price-to-earnings-growth ratio of 1.10 and a beta of 0.57.

Institutional Investors Weigh In On Arch Capital Group

Hedge funds and other institutional investors have recently made changes to their positions in the business. DekaBank Deutsche Girozentrale grew its position in Arch Capital Group by 6.0% during the third quarter. DekaBank Deutsche Girozentrale now owns 205,548 shares of the insurance provider’s stock worth $16,756,000 after buying an additional 11,594 shares in the last quarter. Treasurer of the State of North Carolina grew its position in Arch Capital Group by 0.7% during the third quarter. Treasurer of the State of North Carolina now owns 209,153 shares of the insurance provider’s stock worth $16,672,000 after buying an additional 1,504 shares in the last quarter. Millington Financial Advisors LLC acquired a new stake in Arch Capital Group during the third quarter worth about $1,030,000. AdvisorNet Financial Inc grew its position in Arch Capital Group by 3.2% during the third quarter. AdvisorNet Financial Inc now owns 14,900 shares of the insurance provider’s stock worth $1,188,000 after buying an additional 460 shares in the last quarter. Finally, Amalgamated Bank grew its position in Arch Capital Group by 18.0% during the third quarter. Amalgamated Bank now owns 114,030 shares of the insurance provider’s stock worth $9,089,000 after buying an additional 17,395 shares in the last quarter. 87.21% of the stock is owned by institutional investors and hedge funds.

About Arch Capital Group

(Get Free Report)

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; collateral protection, debt cancellation, and service contract reimbursement products; 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.

Further Reading

Earnings History and Estimates for Arch Capital Group (NASDAQ:ACGL)

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