Prudential Financial Inc. Buys 58,560 Shares of Argo Group International Holdings, Ltd. (NASDAQ:AGII)

Prudential Financial Inc. increased its position in Argo Group International Holdings, Ltd. (NASDAQ:AGII) by 33.7% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 232,518 shares of the insurance provider’s stock after purchasing an additional 58,560 shares during the period. Prudential Financial Inc. owned approximately 0.77% of Argo Group International Holdings worth $14,091,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in AGII. Russell Investments Group Ltd. boosted its stake in Argo Group International Holdings by 5.1% in the 1st quarter. Russell Investments Group Ltd. now owns 140,800 shares of the insurance provider’s stock worth $9,547,000 after purchasing an additional 6,774 shares in the last quarter. First Trust Advisors LP raised its position in Argo Group International Holdings by 13.9% in the 1st quarter. First Trust Advisors LP now owns 71,719 shares of the insurance provider’s stock worth $4,863,000 after buying an additional 8,749 shares during the last quarter. American Century Companies Inc. raised its position in Argo Group International Holdings by 58.3% in the 1st quarter. American Century Companies Inc. now owns 110,549 shares of the insurance provider’s stock worth $7,495,000 after buying an additional 40,692 shares during the last quarter. US Bancorp DE raised its position in Argo Group International Holdings by 3.5% in the 1st quarter. US Bancorp DE now owns 41,643 shares of the insurance provider’s stock worth $2,823,000 after buying an additional 1,402 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its position in shares of Argo Group International Holdings by 5.1% during the 1st quarter. Bank of New York Mellon Corp now owns 160,436 shares of the insurance provider’s stock valued at $10,878,000 after purchasing an additional 7,770 shares during the last quarter. Institutional investors own 87.51% of the company’s stock.

In other news, insider Mark E. Watson III sold 22,246 shares of Argo Group International Holdings stock in a transaction that occurred on Friday, August 25th. The stock was sold at an average price of $60.19, for a total value of $1,338,986.74. Following the sale, the insider now directly owns 593,661 shares of the company’s stock, valued at $35,732,455.59. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 4.86% of the company’s stock.

Argo Group International Holdings, Ltd. (NASDAQ AGII) opened at 61.10 on Friday. The company has a market capitalization of $1.84 billion, a P/E ratio of 11.04 and a beta of 0.82. Argo Group International Holdings, Ltd. has a 1-year low of $54.40 and a 1-year high of $69.03. The firm has a 50-day moving average price of $59.75 and a 200 day moving average price of $62.72.

Argo Group International Holdings (NASDAQ:AGII) last posted its quarterly earnings data on Monday, August 7th. The insurance provider reported $1.31 EPS for the quarter, beating the Zacks’ consensus estimate of $1.06 by $0.25. The business had revenue of $447.10 million during the quarter, compared to analysts’ expectations of $412.90 million. Argo Group International Holdings had a return on equity of 6.39% and a net margin of 10.04%. The business’s revenue was up 15.2% compared to the same quarter last year. During the same period in the previous year, the business earned $1.20 earnings per share. On average, equities analysts predict that Argo Group International Holdings, Ltd. will post $3.94 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Friday, September 1st were given a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.77%. The ex-dividend date was Wednesday, August 30th. Argo Group International Holdings’s dividend payout ratio (DPR) is presently 19.49%.

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AGII has been the subject of several research reports. Zacks Investment Research raised shares of Argo Group International Holdings from a “hold” rating to a “buy” rating and set a $66.00 price target for the company in a research report on Friday, August 11th. BidaskClub raised shares of Argo Group International Holdings from a “strong sell” rating to a “sell” rating in a report on Friday, June 30th. Finally, Keefe, Bruyette & Woods reissued a “hold” rating and issued a $70.00 target price on shares of Argo Group International Holdings in a report on Tuesday, July 4th.

Argo Group International Holdings 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.

Institutional Ownership by Quarter for Argo Group International Holdings (NASDAQ:AGII)

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