Argo Group International (NASDAQ:AGII) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Friday, March 9th.
According to Zacks, “PXRE Group Ltd. provides reinsurance products and services to a worldwide marketplace. They primarily emphasize commercial and personal property and casualty reinsurance risks, and offer both broker-based and direct-writing distribution capabilities. PXRE also provides marine and aerospace reinsurance products and services. “
AGII has been the subject of several other reports. BidaskClub raised shares of Argo Group International from a “sell” rating to a “hold” rating in a report on Tuesday, January 16th. Keefe, Bruyette & Woods reaffirmed a “buy” rating and issued a $62.00 price objective on shares of Argo Group International in a report on Friday, February 23rd. Finally, ValuEngine downgraded shares of Argo Group International from a “hold” rating to a “sell” rating in a report on Tuesday, February 13th.
Argo Group International (AGII) traded up $1.40 during trading hours on Friday, reaching $58.85. 421,464 shares of the company’s stock traded hands, compared to its average volume of 172,096. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.52 and a current ratio of 0.52. The stock has a market cap of $1,939.76, a price-to-earnings ratio of 42.83 and a beta of 0.77. Argo Group International has a 52-week low of $49.69 and a 52-week high of $60.80.
Argo Group International (NASDAQ:AGII) last issued its quarterly earnings results on Tuesday, February 13th. The insurance provider reported ($0.66) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.51) by ($0.15). Argo Group International had a negative return on equity of 0.80% and a net margin of 2.84%. The company had revenue of $441.60 million for the quarter. analysts expect that Argo Group International will post 3.47 earnings per share for the current year.
In other Argo Group International news, Director John R. Power, Jr. sold 4,108 shares of the business’s stock in a transaction dated Monday, March 5th. The shares were sold at an average price of $61.09, for a total value of $250,957.72. Following the transaction, the director now owns 19,593 shares in the company, valued at $1,196,936.37. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Mark E. Watson III sold 5,772 shares of the business’s stock in a transaction dated Wednesday, March 7th. The shares were sold at an average price of $54.02, for a total transaction of $311,803.44. Following the transaction, the chief executive officer now owns 536,239 shares in the company, valued at approximately $28,967,630.78. The disclosure for this sale can be found here. In the last quarter, insiders sold 36,544 shares of company stock worth $2,092,498. 4.86% of the stock is owned by corporate insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. The Manufacturers Life Insurance Company bought a new stake in Argo Group International during the second quarter worth about $1,311,000. Nationwide Fund Advisors lifted its stake in shares of Argo Group International by 22.2% in the third quarter. Nationwide Fund Advisors now owns 72,002 shares of the insurance provider’s stock worth $4,428,000 after buying an additional 13,098 shares in the last quarter. First Trust Advisors LP lifted its stake in shares of Argo Group International by 17.6% in the third quarter. First Trust Advisors LP now owns 75,359 shares of the insurance provider’s stock worth $4,635,000 after buying an additional 11,304 shares in the last quarter. Aperio Group LLC lifted its stake in shares of Argo Group International by 16.9% in the third quarter. Aperio Group LLC now owns 5,553 shares of the insurance provider’s stock worth $342,000 after buying an additional 802 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System lifted its stake in shares of Argo Group International by 6.5% in the third quarter. State Board of Administration of Florida Retirement System now owns 24,641 shares of the insurance provider’s stock worth $1,515,000 after buying an additional 1,500 shares in the last quarter. Institutional investors own 78.24% of the company’s stock.
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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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