Zacks Research Has Negative Outlook for ACGL FY2024 Earnings

Arch Capital Group Ltd. (NASDAQ:ACGL) – Equities researchers at Zacks Research dropped their FY2024 EPS estimates for shares of Arch Capital Group in a note issued to investors on Wednesday, November 13th. Zacks Research analyst T. De now forecasts that the insurance provider will post earnings of $9.00 per share for the year, down from their previous estimate of $9.01. The consensus estimate for Arch Capital Group’s current full-year earnings is $9.01 per share. Zacks Research also issued estimates for Arch Capital Group’s Q4 2024 earnings at $1.99 EPS, Q1 2025 earnings at $2.37 EPS, Q2 2025 earnings at $2.44 EPS, FY2025 earnings at $9.11 EPS, Q1 2026 earnings at $2.57 EPS and FY2026 earnings at $9.73 EPS.

Arch Capital Group (NASDAQ:ACGL) last announced its quarterly earnings results on Wednesday, October 30th. The insurance provider reported $1.99 EPS for the quarter, beating analysts’ consensus estimates of $1.94 by $0.05. The company had revenue of $4.72 billion during the quarter, compared to analysts’ expectations of $4.05 billion. Arch Capital Group had a return on equity of 18.94% and a net margin of 33.86%. During the same period in the prior year, the company earned $2.31 EPS.

Several other analysts have also recently weighed in on the stock. Evercore ISI boosted their price objective on shares of Arch Capital Group from $104.00 to $107.00 and gave the stock an “in-line” rating in a research note on Wednesday, October 9th. Bank of America reduced their target price on Arch Capital Group from $143.00 to $136.00 and set a “buy” rating on the stock in a report on Friday. Roth Mkm raised their price target on shares of Arch Capital Group from $110.00 to $125.00 and gave the stock a “buy” rating in a report on Friday, August 23rd. TD Cowen increased their price objective on shares of Arch Capital Group from $116.00 to $138.00 and gave the stock a “buy” rating in a research report on Friday, September 20th. Finally, BMO Capital Markets boosted their target price on shares of Arch Capital Group from $98.00 to $104.00 and gave the company a “market perform” rating in a report on Wednesday, November 6th. Six research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $118.94.

Arch Capital Group Stock Performance

Arch Capital Group stock opened at $101.83 on Monday. The business has a 50 day moving average of $108.03 and a 200-day moving average of $103.36. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.58 and a quick ratio of 0.58. Arch Capital Group has a 1 year low of $72.85 and a 1 year high of $116.47. The company has a market capitalization of $38.31 billion, a P/E ratio of 6.83, a P/E/G ratio of 1.47 and a beta of 0.61.

Hedge Funds Weigh In On Arch Capital Group

Several large investors have recently bought and sold shares of ACGL. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Arch Capital Group by 245.1% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,053,739 shares of the insurance provider’s stock valued at $341,652,000 after buying an additional 2,168,897 shares during the last quarter. Capital International Investors boosted its position in Arch Capital Group by 61.1% in the first quarter. Capital International Investors now owns 4,112,577 shares of the insurance provider’s stock worth $380,167,000 after purchasing an additional 1,560,173 shares during the last quarter. Erste Asset Management GmbH bought a new position in Arch Capital Group in the 3rd quarter valued at $82,748,000. National Pension Service purchased a new position in shares of Arch Capital Group in the 3rd quarter worth about $64,271,000. Finally, International Assets Investment Management LLC increased its holdings in Arch Capital Group by 18,634.1% during the third quarter. International Assets Investment Management LLC now owns 551,345 shares of the insurance provider’s stock worth $616,840,000 after buying an additional 548,402 shares during the last quarter. 89.07% of the stock is currently owned by institutional investors.

Arch Capital Group Dividend Announcement

The business also recently declared a special dividend, which will be paid on Wednesday, December 4th. Investors of record on Monday, November 18th will be issued a dividend of $5.00 per share. The ex-dividend date of this dividend is Monday, November 18th.

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.