BidaskClub Upgrades Argo Group International (AGII) to “Hold”
BidaskClub upgraded shares of Argo Group International (NASDAQ:AGII) from a sell rating to a hold rating in a research report released on Tuesday.
A number of other research analysts have also recently commented on AGII. Zacks Investment Research cut Argo Group International from a hold rating to a sell rating in a report on Tuesday, January 9th. Keefe, Bruyette & Woods raised Argo Group International from a market perform rating to an outperform rating and boosted their price target for the stock from $67.00 to $71.00 in a report on Thursday, December 28th.
Shares of Argo Group International (NASDAQ AGII) traded up $0.50 during trading hours on Tuesday, hitting $62.65. The company had a trading volume of 111,655 shares, compared to its average volume of 135,969. The company has a market cap of $1,890.00, a P/E ratio of 37.07 and a beta of 0.82. The company has a current ratio of 0.52, a quick ratio of 0.52 and a debt-to-equity ratio of 0.22. Argo Group International has a 52 week low of $56.15 and a 52 week high of $69.03.
Argo Group International (NASDAQ:AGII) last announced its quarterly earnings data on Thursday, November 2nd. The insurance provider reported ($1.91) earnings per share (EPS) for the quarter, missing the Zacks’ 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 company had revenue of $439.20 million for the quarter, compared to the consensus estimate of $433.90 million. During the same quarter last year, the firm posted $1.12 earnings per share. The company’s revenue was up 5.4% compared to the same quarter last year. research analysts predict that Argo Group International will post 0.87 EPS for the current year.
In other news, CFO Jay Stanley Bullock sold 6,743 shares of the company’s stock in a transaction that occurred on Thursday, December 7th. The stock was sold at an average price of $60.97, for a total transaction of $411,120.71. Following the sale, the chief financial officer now directly owns 85,767 shares of the company’s stock, valued at approximately $5,229,213.99. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Gary V. Woods acquired 20,000 shares of the firm’s stock in a transaction dated Wednesday, December 6th. The shares were purchased at an average cost of $61.28 per share, for a total transaction of $1,225,600.00. Following the completion of the acquisition, the director now directly owns 44,652 shares in the company, valued at $2,736,274.56. The disclosure for this purchase can be found here. Over the last three months, insiders sold 17,524 shares of company stock worth $1,067,061. 4.86% of the stock is owned by insiders.
Several institutional investors and hedge funds have recently modified their holdings of AGII. Quantbot Technologies LP purchased a new stake in shares of Argo Group International during the 2nd quarter worth approximately $195,000. Neuberger Berman Group LLC raised its holdings 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 acquiring an additional 27 shares in the last quarter. Amalgamated Bank raised its holdings 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 acquiring an additional 49 shares in the last quarter. Cubist Systematic Strategies LLC purchased a new stake in shares of Argo Group International during the 2nd quarter worth approximately $271,000. Finally, BNP Paribas Arbitrage SA raised its holdings in shares of Argo Group International by 210.6% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 4,569 shares of the insurance provider’s stock worth $277,000 after acquiring an additional 3,098 shares in the last quarter. 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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