Argo Group International (AGII) Raised to Hold at BidaskClub

BidaskClub upgraded shares of Argo Group International (NASDAQ:AGII) from a sell rating to a hold rating in a research report report published on Tuesday morning.

Other equities research analysts have also recently issued research reports about the company. Zacks Investment Research upgraded Argo Group International from a strong sell rating to a hold rating in a research note on Tuesday, December 19th. Keefe, Bruyette & Woods upgraded 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 note on Thursday, December 28th.

Shares of Argo Group International (NASDAQ:AGII) opened at $62.65 on Tuesday. The company has a market capitalization of $1,844.67, a P/E ratio of 81.78 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 has a 12 month low of $56.15 and a 12 month high of $69.03.

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 firm had revenue of $439.20 million during the quarter, compared to the consensus estimate of $433.90 million. Argo Group International had a net margin of 3.15% and a return on equity of 1.36%. The company’s revenue was up 5.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.12 EPS. equities research analysts expect that Argo Group International will post 0.87 earnings per share for the current fiscal 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 owns 85,767 shares in the company, valued at approximately $5,229,213.99. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Kevin James Rehnberg sold 2,500 shares of the company’s stock in a transaction that occurred on 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 in the company, valued at approximately $1,839,573.82. The disclosure for this sale can be found here. In the last quarter, insiders have sold 17,524 shares of company stock worth $1,067,061. Company insiders own 4.86% of the company’s stock.

Several institutional investors have recently made changes to their positions in the company. Neuberger Berman Group LLC increased 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 during the last quarter. Amalgamated Bank increased 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 during the last quarter. Wealthsource Partners LLC increased its holdings 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 acquiring an additional 75 shares during the last quarter. Colony Group LLC increased its holdings 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 acquiring an additional 121 shares during the last quarter. Finally, Macquarie Group Ltd. increased its holdings in shares of Argo Group International by 0.8% during the 2nd quarter. Macquarie Group Ltd. now owns 41,873 shares of the insurance provider’s stock worth $2,538,000 after acquiring an additional 318 shares during the last quarter. Institutional investors own 86.92% of the company’s stock.

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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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