Arch Capital Group Ltd. (ACGL) reported quarterly earnings results on Wednesday, Apr-27-2016. The company said it had a profit of $1.20 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.10. Analysts had a consensus of $1.10. The company posted revenue of $977.10 million in the period, compared to analysts expectations of $1028.31 million. The company’s revenue was up 3.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.16 EPS.
Many Wall Street Analysts have commented on Arch Capital Group Ltd.. Shares were Reiterated by RBC Capital Mkts on Feb 11, 2016 to “Outperform” and Lowered the Price Target to $ 79 from a previous price target of $85 .
Arch Capital Group Ltd. opened for trading at $69.17 and hit $70.9 on the upside on Friday, eventually ending the session at $70.81, with a gain of 2.08% or 1.44 points. The heightened volatility saw the trading volume jump to 3,52,732 shares. Company has a market cap of $8,644 M.
In a different news, on Mar 16, 2016, Mark Donald Lyons (EVP,CFO & Treasurer) sold 3,500 shares at $69.91 per share price. According to the SEC, on Mar 2, 2016, Constantine Iordanou (Chairman & CEO) sold 40,000 shares at $68.81 per share price. On Feb 22, 2016, Marc Grandisson (President & COO) sold 30,000 shares at $68.56 per share price, according to the Form-4 filing with the securities and exchange commission.
Arch Capital Group Ltd. (ACGL) writes insurance and reinsurance on an around the world basis. The Company operates in two underwriting segments: insurance and reinsurance and mortgage. The insurance segments product lines include construction and national accounts; excess and surplus casualty; lenders products; professional lines; programs; property energy marine and aviation; travel accident and health and other (consisting of alternative markets excess workers’ compensation and surety business). The reinsurance segments product lines include casualty; marine and aviation; other specialty; property catastrophe; property excluding property catastrophe and other (consisting of life reinsurance casualty clash and other). The mortgage segment consists of the Companys mortgage insurance and reinsurance business and includes the results of Arch MI U.S. which provides mortgage insurance to banks and other lenders across the nation including existing credit union customers.