Mackenzie Financial Corp continued to hold its stake in shares of Argo Group International Holdings, Ltd. (NASDAQ:AGII) during the first quarter, Holdings Channel reports. The institutional investor owned 6,504 shares of the insurance provider’s stock at the end of the first quarter. Mackenzie Financial Corp’s holdings in Argo Group International Holdings were worth $441,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently made changes to their positions in AGII. Russell Investments Group Ltd. bought a new position in Argo Group International Holdings during the fourth quarter worth $8,865,000. Comerica Bank increased its position in Argo Group International Holdings by 227.1% in the fourth quarter. Comerica Bank now owns 47,558 shares of the insurance provider’s stock worth $3,067,000 after buying an additional 33,017 shares during the period. State Street Corp increased its position in Argo Group International Holdings by 13.9% in the fourth quarter. State Street Corp now owns 593,373 shares of the insurance provider’s stock worth $39,101,000 after buying an additional 72,186 shares during the period. FMR LLC increased its position in Argo Group International Holdings by 28.4% in the fourth quarter. FMR LLC now owns 251,442 shares of the insurance provider’s stock worth $16,570,000 after buying an additional 55,604 shares during the period. Finally, Marshall Wace LLP bought a new position in Argo Group International Holdings during the fourth quarter worth $1,937,000. 88.26% of the stock is currently owned by institutional investors.

Institutional Ownership by Quarter for Argo Group International Holdings (NASDAQ:AGII)

Argo Group International Holdings, Ltd. (NASDAQ:AGII) traded up 0.51% during trading on Friday, hitting $59.35. 14,187 shares of the stock were exchanged. Argo Group International Holdings, Ltd. has a 12-month low of $49.10 and a 12-month high of $69.03. The firm has a market capitalization of $1.79 billion, a PE ratio of 11.75 and a beta of 0.82. The stock has a 50 day moving average price of $62.61 and a 200-day moving average price of $65.04.

Argo Group International Holdings (NASDAQ:AGII) last issued its quarterly earnings data on Wednesday, May 3rd. The insurance provider reported $0.71 EPS for the quarter, topping analysts’ consensus estimates of $0.64 by $0.07. Argo Group International Holdings had a net margin of 9.53% and a return on equity of 6.07%. The business had revenue of $428.10 million for the quarter, compared to analyst estimates of $407.90 million. During the same period last year, the business posted $0.98 earnings per share. The firm’s quarterly revenue was up 15.7% on a year-over-year basis. On average, equities research analysts anticipate that Argo Group International Holdings, Ltd. will post $3.88 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 26th. Investors of record on Monday, June 12th will be issued a dividend of $0.27 per share. The ex-dividend date of this dividend is Thursday, June 8th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.83%. Argo Group International Holdings’s payout ratio is 21.34%.

COPYRIGHT VIOLATION NOTICE: “Mackenzie Financial Corp Has $441,000 Stake in Argo Group International Holdings, Ltd. (AGII)” was reported by Watch List News and is the property of of Watch List News. If you are accessing this story on another website, it was illegally copied and republished in violation of US & international copyright & trademark laws. The legal version of this story can be accessed at https://www.watchlistnews.com/mackenzie-financial-corp-has-441000-stake-in-argo-group-international-holdings-ltd-agii/1387793.html.

A number of research firms have recently weighed in on AGII. Keefe, Bruyette & Woods set a $70.00 price target on shares of Argo Group International Holdings and gave the stock a “hold” rating in a research note on Thursday, April 6th. Zacks Investment Research raised shares of Argo Group International Holdings from a “hold” rating to a “buy” rating and set a $67.00 price target on the stock in a research note on Tuesday.

In related news, CFO Jay Stanley Bullock sold 6,292 shares of the firm’s stock in a transaction on Thursday, June 15th. The shares were sold at an average price of $60.91, for a total transaction of $383,245.72. Following the sale, the chief financial officer now directly owns 86,115 shares in the company, valued at $5,245,264.65. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Kevin James Rehnberg sold 3,500 shares of the firm’s stock in a transaction on Monday, June 12th. The stock was sold at an average price of $61.00, for a total transaction of $213,500.00. Following the sale, the insider now owns 33,193 shares in the company, valued at $2,024,773. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 16,295 shares of company stock worth $994,079. 5.79% of the stock is currently 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.

Want to see what other hedge funds are holding AGII? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Argo Group International Holdings, Ltd. (NASDAQ:AGII).

Receive News & Ratings for Argo Group International Holdings Ltd. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Argo Group International Holdings Ltd. and related companies with Analyst Ratings Network's FREE daily email newsletter.