Argo Group (ARGO) Announces Quarterly Earnings Results, Beats Estimates By $0.19 EPS

Share on StockTwits

Argo Group (NASDAQ:ARGO) issued its earnings results on Monday. The company reported $0.68 earnings per share for the quarter, topping the consensus estimate of $0.49 by $0.19, Morningstar.com reports. The firm had revenue of $484.70 million during the quarter, compared to the consensus estimate of $462.83 million.

Shares of ARGO traded up $1.50 during midday trading on Tuesday, hitting $62.74. 3,613 shares of the company traded hands, compared to its average volume of 117,830. Argo Group has a 52 week low of $50.53 and a 52 week high of $65.90.

In other Argo Group news, insider Kevin James Rehnberg sold 16,850 shares of the stock in a transaction dated Tuesday, August 14th. The shares were sold at an average price of $61.28, for a total transaction of $1,032,568.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Thomas A. Bradley acquired 2,000 shares of the company’s stock in a transaction on Tuesday, August 14th. The shares were bought at an average cost of $61.72 per share, with a total value of $123,440.00. The disclosure for this purchase can be found here. Insiders have sold a total of 54,880 shares of company stock valued at $3,439,177 in the last three months.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Dubuque Bank & Trust Co. purchased a new stake in shares of Argo Group during the 2nd quarter valued at about $212,000. Amalgamated Bank purchased a new stake in shares of Argo Group during the 2nd quarter valued at about $256,000. Boston Advisors LLC purchased a new stake in shares of Argo Group during the 2nd quarter valued at about $272,000. Diversified Trust Co purchased a new stake in shares of Argo Group during the 2nd quarter valued at about $313,000. Finally, First National Bank of Omaha purchased a new stake in shares of Argo Group during the 2nd quarter valued at about $1,328,000.

Several brokerages recently weighed in on ARGO. Raymond James dropped their target price on shares of Argo Group from $72.00 to $70.00 and set a “strong-buy” rating for the company in a report on Friday, October 19th. Boenning Scattergood set a $72.00 price objective on shares of Argo Group and gave the company an “outperform” rating in a report on Tuesday, October 2nd. Keefe, Bruyette & Woods increased their price objective on shares of Argo Group to $69.00 and gave the company an “outperform” rating in a report on Tuesday, August 7th. Finally, Zacks Investment Research downgraded shares of Argo Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 10th.

COPYRIGHT VIOLATION WARNING: “Argo Group (ARGO) Announces Quarterly Earnings Results, Beats Estimates By $0.19 EPS” was originally reported by Macon Daily and is the property of of Macon Daily. If you are viewing this report on another domain, it was illegally copied and republished in violation of U.S. & international trademark & copyright law. The legal version of this report can be read at https://macondaily.com/2018/11/06/argo-group-argo-announces-quarterly-earnings-results-beats-estimates-by-0-19-eps.html.

About Argo Group

Argo Group International Holdings Ltd. engages in underwriting property and casualty insurance and reinsurance. The company operates through following segments: Property, Liability, Professional and Specialty. The Property segment includes both property insurance and reinsurance products. The Liability segment includes a broad range of primary and excess casualty products.

Further Reading: What is an Initial Public Offering (IPO)?

Earnings History for Argo Group (NASDAQ:ARGO)

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

Leave a Reply