BidaskClub upgraded shares of Argo Group International (NASDAQ:AGII) from a sell rating to a hold rating in a research report report published on Wednesday, March 21st.
A number of other brokerages have also recently commented on AGII. Keefe, Bruyette & Woods raised Argo Group International from a market perform rating to an outperform rating and lifted their price target for the stock from $67.00 to $71.00 in a research note on Thursday, December 28th. Zacks Investment Research cut Argo Group International from a hold rating to a sell rating in a research note on Tuesday, January 9th. Finally, ValuEngine raised Argo Group International from a sell rating to a hold rating in a research note on Tuesday, March 13th.
NASDAQ:AGII traded up $1.05 during mid-day trading on Wednesday, reaching $58.60. The stock had a trading volume of 114,389 shares, compared to its average volume of 174,362. The company has a market capitalization of $1,936.39, a price-to-earnings ratio of -138.57 and a beta of 0.62. Argo Group International has a one year low of $49.69 and a one year high of $60.80. 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 (NASDAQ:AGII) last released its earnings results on Tuesday, February 13th. The insurance provider reported ($0.66) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.51) by ($0.15). The firm had revenue of $441.60 million during the quarter. Argo Group International had a negative return on equity of 0.80% and a net margin of 2.84%. sell-side analysts anticipate that Argo Group International will post 3.47 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, March 23rd. Shareholders of record on Wednesday, March 7th were paid a $0.27 dividend. The ex-dividend date was Tuesday, March 6th. This represents a $1.08 dividend on an annualized basis and a yield of 1.84%. Argo Group International’s dividend payout ratio (DPR) is currently -257.14%.
In other news, Director John R. Power, Jr. sold 4,108 shares of the business’s stock in a transaction that occurred on Monday, March 5th. The stock was sold at an average price of $61.09, for a total transaction of $250,957.72. Following the transaction, the director now directly owns 19,593 shares of the company’s stock, valued at $1,196,936.37. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Mark E. Watson III sold 8,800 shares of the business’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $59.74, for a total value of $525,712.00. Following the transaction, the chief executive officer now directly owns 543,056 shares in the company, valued at $32,442,165.44. The disclosure for this sale can be found here. Insiders sold a total of 36,544 shares of company stock worth $2,092,498 over the last ninety days. Insiders own 4.86% of the company’s stock.
Several institutional investors and hedge funds have recently bought and sold shares of AGII. Nationwide Fund Advisors increased its stake in shares of Argo Group International by 22.2% during the third quarter. Nationwide Fund Advisors now owns 72,002 shares of the insurance provider’s stock valued at $4,428,000 after buying an additional 13,098 shares during the period. Aperio Group LLC increased its stake in shares of Argo Group International by 16.9% during the third quarter. Aperio Group LLC now owns 5,553 shares of the insurance provider’s stock valued at $342,000 after buying an additional 802 shares during the period. Swiss National Bank increased its stake in shares of Argo Group International by 2.2% during the third quarter. Swiss National Bank now owns 50,536 shares of the insurance provider’s stock valued at $3,108,000 after buying an additional 1,100 shares during the period. Bank of New York Mellon Corp increased its stake in shares of Argo Group International by 2.6% during the third quarter. Bank of New York Mellon Corp now owns 164,846 shares of the insurance provider’s stock valued at $10,138,000 after buying an additional 4,160 shares during the period. Finally, Ameriprise Financial Inc. increased its stake in shares of Argo Group International by 0.3% during the third quarter. Ameriprise Financial Inc. now owns 448,399 shares of the insurance provider’s stock valued at $27,576,000 after buying an additional 1,291 shares during the period. 79.58% of the stock is currently owned by hedge funds and other institutional investors.
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Argo Group International 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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