FY2018 EPS Estimates for Argo Group Reduced by Analyst (ARGO)

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Argo Group (NASDAQ:ARGO) – Investment analysts at Boenning Scattergood lowered their FY2018 earnings estimates for shares of Argo Group in a note issued to investors on Tuesday, November 6th. Boenning Scattergood analyst R. Farnam now forecasts that the company will post earnings per share of $3.20 for the year, down from their previous estimate of $3.50. Boenning Scattergood currently has a “Buy” rating and a $72.00 target price on the stock. Boenning Scattergood also issued estimates for Argo Group’s Q1 2019 earnings at $1.02 EPS, Q2 2019 earnings at $1.09 EPS, Q3 2019 earnings at $0.91 EPS and Q4 2019 earnings at $1.09 EPS.

Other equities analysts have also issued reports about the stock. Keefe, Bruyette & Woods boosted their target price on shares of Argo Group to $69.00 and gave the company an “outperform” rating in a report on Tuesday, August 7th. Zacks Investment Research lowered shares of Argo Group from a “hold” rating to a “sell” rating in a report on Wednesday. Finally, Raymond James decreased their target price on shares of Argo Group from $72.00 to $70.00 and set a “strong-buy” rating on the stock in a report on Friday, October 19th.

NASDAQ:ARGO opened at $66.69 on Thursday. Argo Group has a 1-year low of $50.53 and a 1-year high of $69.77.

Argo Group (NASDAQ:ARGO) last posted its earnings results on Monday, November 5th. The company reported $0.68 earnings per share for the quarter, beating the consensus estimate of $0.49 by $0.19. The firm had revenue of $484.70 million during the quarter, compared to analyst estimates of $462.83 million.

Hedge funds have recently modified their holdings of the company. Amalgamated Bank acquired a new position in shares of Argo Group in the 2nd quarter worth approximately $256,000. Diversified Trust Co acquired a new position in shares of Argo Group in the 2nd quarter worth approximately $313,000. Dubuque Bank & Trust Co. acquired a new position in shares of Argo Group in the 2nd quarter worth approximately $212,000. First National Bank of Omaha acquired a new position in shares of Argo Group in the 2nd quarter worth approximately $1,328,000. Finally, Peregrine Capital Management LLC acquired a new position in shares of Argo Group in the 2nd quarter worth approximately $31,536,000.

In other news, CFO Jay Stanley Bullock sold 12,323 shares of the company’s stock in a transaction that occurred on Friday, September 7th. The shares were sold at an average price of $63.43, for a total value of $781,647.89. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Thomas A. Bradley acquired 2,000 shares of the firm’s stock in a transaction dated Tuesday, August 14th. The stock was bought at an average price of $61.72 per share, for a total transaction of $123,440.00. The disclosure for this purchase can be found here. Over the last 90 days, insiders sold 64,190 shares of company stock worth $4,064,250.

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.

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Earnings History and Estimates for Argo Group (NASDAQ:ARGO)

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