Argo Group International (AGII) Lowered to “Sell” at Zacks Investment Research
Argo Group International (NASDAQ:AGII) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Tuesday.
According to Zacks, “PXRE Group Ltd. provides reinsurance products and services to a worldwide marketplace. They primarily emphasize commercial and personal property and casualty reinsurance risks, and offer both broker-based and direct-writing distribution capabilities. PXRE also provides marine and aerospace reinsurance products and services. “
A number of other brokerages also recently commented on AGII. Keefe, Bruyette & Woods upgraded shares of Argo Group International from a “market perform” rating to an “outperform” rating and upped their price objective for the stock from $67.00 to $71.00 in a research report on Thursday, December 28th. BidaskClub downgraded shares of Argo Group International from a “hold” rating to a “sell” rating in a research report on Saturday, January 6th.
Shares of Argo Group International (AGII) opened at $59.95 on Tuesday. Argo Group International has a 12-month low of $56.15 and a 12-month high of $69.03. The company has a market cap of $1,800.00, a price-to-earnings ratio of 35.47 and a beta of 0.82. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.52 and a quick ratio of 0.52.
Argo Group International (NASDAQ:AGII) last released its quarterly earnings results on Thursday, November 2nd. The insurance provider reported ($1.91) EPS for the quarter, missing the consensus estimate of $0.99 by ($2.90). Argo Group International had a net margin of 3.15% and a return on equity of 1.36%. The business had revenue of $439.20 million during the quarter, compared to analysts’ expectations of $433.90 million. During the same quarter last year, the company earned $1.12 EPS. The firm’s revenue for the quarter was up 5.4% compared to the same quarter last year. equities analysts forecast that Argo Group International will post 0.87 earnings per share for the current year.
In other news, CFO Jay Stanley Bullock sold 6,743 shares of the company’s stock in a transaction on Thursday, December 7th. The shares were sold at an average price of $60.97, for a total transaction of $411,120.71. Following the transaction, the chief financial officer now directly owns 85,767 shares of the company’s stock, valued at approximately $5,229,213.99. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Gary V. Woods purchased 20,000 shares of the stock in a transaction dated Wednesday, December 6th. The shares were bought at an average cost of $61.28 per share, for a total transaction of $1,225,600.00. Following the completion of the purchase, the director now owns 44,652 shares in the company, valued at $2,736,274.56. The disclosure for this purchase can be found here. In the last 90 days, insiders have sold 17,524 shares of company stock valued at $1,067,061. 4.86% of the stock is owned by insiders.
Several large investors have recently bought and sold shares of the company. Neuberger Berman Group LLC grew its stake in shares of Argo Group International by 0.8% during the 2nd quarter. Neuberger Berman Group LLC now owns 3,383 shares of the insurance provider’s stock worth $205,000 after purchasing an additional 27 shares during the period. Amalgamated Bank grew its stake in shares of Argo Group International by 1.4% during the 2nd quarter. Amalgamated Bank now owns 3,671 shares of the insurance provider’s stock worth $222,000 after purchasing an additional 49 shares during the period. Wealthsource Partners LLC grew its stake in shares of Argo Group International by 1.4% during the 2nd quarter. Wealthsource Partners LLC now owns 5,375 shares of the insurance provider’s stock worth $326,000 after purchasing an additional 75 shares during the period. Colony Group LLC grew its stake in shares of Argo Group International by 0.4% during the 2nd quarter. Colony Group LLC now owns 30,333 shares of the insurance provider’s stock worth $1,838,000 after purchasing an additional 121 shares during the period. Finally, Martingale Asset Management L P grew its stake in shares of Argo Group International by 0.4% during the 2nd quarter. Martingale Asset Management L P now owns 83,865 shares of the insurance provider’s stock worth $5,083,000 after purchasing an additional 300 shares during the period. 86.92% of the stock is currently owned by institutional investors and hedge funds.
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About Argo Group International
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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