Russell Investments Group Ltd. lessened its stake in shares of Argo Group International Holdings, Ltd. (NASDAQ:AGII) by 30.0% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 99,395 shares of the insurance provider’s stock after selling 42,589 shares during the quarter. Russell Investments Group Ltd. owned about 0.33% of Argo Group International worth $6,113,000 at the end of the most recent reporting period.
Several other large investors also recently modified their holdings of AGII. Burgundy Asset Management Ltd. increased its holdings in shares of Argo Group International by 2.4% in the 2nd quarter. Burgundy Asset Management Ltd. now owns 133,579 shares of the insurance provider’s stock valued at $8,095,000 after acquiring an additional 3,157 shares during the period. Prudential Financial Inc. increased its stake in Argo Group International by 33.7% in the 2nd quarter. Prudential Financial Inc. now owns 232,518 shares of the insurance provider’s stock valued at $14,091,000 after buying an additional 58,560 shares during the period. Schwab Charles Investment Management Inc. increased its stake in Argo Group International by 20.2% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 217,413 shares of the insurance provider’s stock valued at $13,176,000 after buying an additional 36,539 shares during the period. IndexIQ Advisors LLC increased its stake in Argo Group International by 83.4% in the 3rd quarter. IndexIQ Advisors LLC now owns 12,786 shares of the insurance provider’s stock valued at $786,000 after buying an additional 5,814 shares during the period. Finally, Vanguard Group Inc. grew its stake in shares of Argo Group International by 0.5% during the 2nd quarter. Vanguard Group Inc. now owns 2,332,774 shares of the insurance provider’s stock worth $141,367,000 after purchasing an additional 11,903 shares during the period. Institutional investors and hedge funds own 86.92% of the company’s stock.
Shares of Argo Group International Holdings, Ltd. (NASDAQ AGII) traded down $0.95 during trading hours on Tuesday, reaching $60.70. 134,070 shares of the company’s stock traded hands, compared to its average volume of 103,750. 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 Holdings, Ltd. has a one year low of $56.15 and a one year high of $69.03. The firm has a market capitalization of $1,830.00, a P/E ratio of 35.92 and a beta of 0.82.
Argo Group International (NASDAQ:AGII) last released its earnings results on Thursday, November 2nd. The insurance provider reported ($1.91) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.99 by ($2.90). The business had revenue of $439.20 million for the quarter, compared to analysts’ expectations of $433.90 million. Argo Group International had a net margin of 3.15% and a return on equity of 1.36%. The business’s quarterly revenue was up 5.4% compared to the same quarter last year. During the same quarter last year, the company posted $1.12 earnings per share. equities research analysts anticipate that Argo Group International Holdings, Ltd. will post 0.87 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, December 15th. Shareholders of record on Friday, December 1st were paid a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 1.78%. The ex-dividend date was Thursday, November 30th. Argo Group International’s payout ratio is 63.91%.
Several equities research analysts recently commented on AGII shares. Zacks Investment Research upgraded shares of Argo Group International from a “strong sell” rating to a “hold” rating in a research report on Tuesday, December 19th. Keefe, Bruyette & Woods upgraded shares of Argo Group International from a “market perform” rating to an “outperform” rating and upped their target price for the company from $67.00 to $71.00 in a report on Thursday, December 28th.
In related news, CFO Jay Stanley Bullock sold 6,743 shares of Argo Group International stock in a transaction dated Thursday, December 7th. The stock was sold at an average price of $60.97, for a total value of $411,120.71. Following the transaction, the chief financial officer now owns 85,767 shares of the company’s stock, valued at approximately $5,229,213.99. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Kevin James Rehnberg sold 2,500 shares of the firm’s stock in a transaction dated Tuesday, November 14th. The stock was sold at an average price of $59.74, for a total value of $149,350.00. Following the sale, the insider now owns 30,793 shares of the company’s stock, valued at $1,839,573.82. The disclosure for this sale can be found here. Insiders have sold 17,524 shares of company stock worth $1,067,061 over the last three months. Corporate insiders own 4.86% of the company’s stock.
Argo Group International 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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