Argo Group International Holdings, Ltd. (AGII) Issues Quarterly Earnings Results, Misses Estimates By $2.90 EPS
Argo Group International Holdings, Ltd. (NASDAQ:AGII) posted its quarterly earnings results on Thursday. The insurance provider reported ($1.91) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.99 by ($2.90), Briefing.com reports. The company had revenue of $439.20 million for the quarter, compared to the consensus estimate of $433.90 million. Argo Group International Holdings had a net margin of 10.04% and a return on equity of 6.39%. Argo Group International Holdings’s quarterly revenue was up 5.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.12 EPS.
Shares of Argo Group International Holdings (AGII) traded down $1.40 during trading hours on Friday, reaching $61.40. 172,083 shares of the company’s stock were exchanged, compared to its average volume of 126,661. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.49 and a quick ratio of 0.49. The company has a market capitalization of $1,850.00, a price-to-earnings ratio of 16.57 and a beta of 0.85. Argo Group International Holdings has a 12-month low of $56.15 and a 12-month high of $69.03.
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Several research firms recently weighed in on AGII. BidaskClub upgraded shares of Argo Group International Holdings from a “strong sell” rating to a “sell” rating in a research report on Saturday, August 19th. Zacks Investment Research upgraded shares of Argo Group International Holdings from a “hold” rating to a “buy” rating and set a $66.00 price target for the company in a research report on Friday, August 11th.
In other Argo Group International Holdings news, insider Mark E. Watson III sold 22,246 shares of the stock in a transaction dated Friday, August 25th. The shares were sold at an average price of $60.19, for a total transaction of $1,338,986.74. Following the completion of the transaction, the insider now owns 593,661 shares in the company, valued at $35,732,455.59. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 4.86% of the stock is owned by company insiders.
Argo Group International Holdings Company Profile
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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