State Board of Administration of Florida Retirement System cut its stake in Argo Group International Holdings Ltd. (NASDAQ:AGII) by 5.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 22,802 shares of the company’s stock after selling 1,198 shares during the period. State Board of Administration of Florida Retirement System owned 0.08% of Argo Group International Holdings worth $1,183,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of AGII. Frontier Capital Management Co. LLC raised its stake in shares of Argo Group International Holdings by 6.0% in the second quarter. Frontier Capital Management Co. LLC now owns 1,683,502 shares of the company’s stock valued at $87,374,000 after buying an additional 95,729 shares in the last quarter. Wellington Management Group LLP raised its stake in shares of Argo Group International Holdings by 5.5% in the first quarter. Wellington Management Group LLP now owns 1,441,227 shares of the company’s stock valued at $82,712,000 after buying an additional 75,599 shares in the last quarter. BlackRock Institutional Trust Company N.A. raised its stake in shares of Argo Group International Holdings by 0.3% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 711,311 shares of the company’s stock valued at $40,822,000 after buying an additional 1,885 shares in the last quarter. Wedge Capital Management L L P NC raised its stake in shares of Argo Group International Holdings by 8.2% in the second quarter. Wedge Capital Management L L P NC now owns 449,371 shares of the company’s stock valued at $23,322,000 after buying an additional 34,138 shares in the last quarter. Finally, James Investment Research Inc. raised its stake in shares of Argo Group International Holdings by 16.8% in the second quarter. James Investment Research Inc. now owns 430,243 shares of the company’s stock valued at $22,329,000 after buying an additional 61,973 shares in the last quarter. 88.95% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Argo Group International Holdings Ltd. (NASDAQ:AGII) traded up 1.04% on Wednesday, reaching $56.12. The company had a trading volume of 73,887 shares. The company has a 50-day moving average price of $55.66 and a 200-day moving average price of $52.85. The firm has a market cap of $1.69 billion, a P/E ratio of 12.95 and a beta of 0.60. Argo Group International Holdings Ltd. has a one year low of $41.55 and a one year high of $60.36.

Argo Group International Holdings (NASDAQ:AGII) last announced its quarterly earnings data on Tuesday, August 2nd. The company reported $1.20 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.51 by $0.69. Argo Group International Holdings had a return on equity of 6.68% and a net margin of 9.03%. The company had revenue of $384.30 million for the quarter, compared to analyst estimates of $361.84 million. During the same quarter last year, the firm earned $0.98 EPS. Argo Group International Holdings’s revenue for the quarter was up 1.9% compared to the same quarter last year. On average, analysts expect that Argo Group International Holdings Ltd. will post $3.94 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 29th. Stockholders of record on Monday, August 15th were issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 1.57%. The ex-dividend date of this dividend was Thursday, August 11th. Argo Group International Holdings’s payout ratio is presently 20.34%.

Several research analysts have recently issued reports on AGII shares. Compass Point increased their price target on Argo Group International Holdings from $52.00 to $54.00 and gave the stock a “neutral” rating in a research note on Thursday, August 4th. Zacks Investment Research cut Argo Group International Holdings from a “buy” rating to a “hold” rating in a research note on Tuesday, July 19th. JMP Securities started coverage on Argo Group International Holdings in a research note on Monday, June 27th. They issued a “market perform” rating for the company. Finally, Keefe, Bruyette & Woods increased their price target on Argo Group International Holdings from $56.00 to $58.00 and gave the stock a “market perform” rating in a research note on Thursday, August 4th. Three analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $62.25.

In related news, Director John H. Tonelli sold 3,810 shares of the firm’s stock in a transaction that occurred on Wednesday, September 14th. The stock was sold at an average price of $55.91, for a total transaction of $213,017.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Kevin James Rehnberg sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 23rd. The stock was sold at an average price of $55.90, for a total value of $279,500.00. The disclosure for this sale can be found here. Insiders own 5.79% of the company’s stock.

About Argo Group International Holdings

Argo Group International Holdings, Ltd. is an underwriter of specialty insurance and reinsurance products in the property and casualty market. The Company operates through four segments: Excess and Surplus Lines, Commercial Specialty, International Specialty and Syndicate 1200. Excess and Surplus Lines segment carriers focus on risks that the standard (admitted) market is unwilling or unable to underwrite.

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