Argo Group International Holdings Ltd. (AGII) Downgraded to Sell at Zacks Investment Research
Argo Group International Holdings Ltd. (NASDAQ:AGII) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Tuesday.
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. “
Other research analysts have also issued research reports about the company. JMP Securities started coverage on Argo Group International Holdings in a research report on Monday, June 27th. They issued a “market perform” rating for the company. Keefe, Bruyette & Woods increased their target price on Argo Group International Holdings from $56.00 to $58.00 and gave the stock a “market perform” rating in a research report on Thursday, August 4th. Finally, Compass Point increased their target price on Argo Group International Holdings from $52.00 to $54.00 and gave the stock a “neutral” rating in a research report on Thursday, August 4th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $62.25.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at http://www.americanbankingnews.com/2016/10/18/argo-group-international-holdings-ltd-agii-downgraded-to-sell-at-zacks-investment-research.html
Argo Group International Holdings (NASDAQ:AGII) remained flat at $57.80 on Tuesday. The company’s stock had a trading volume of 100,043 shares. Argo Group International Holdings has a 12-month low of $41.55 and a 12-month high of $60.36. The stock has a market capitalization of $1.74 billion, a PE ratio of 13.34 and a beta of 0.69. The stock has a 50-day moving average of $56.55 and a 200 day moving average of $53.59.
Argo Group International Holdings (NASDAQ:AGII) last announced its earnings results on Tuesday, August 2nd. The company reported $1.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.69. Argo Group International Holdings had a return on equity of 6.68% and a net margin of 9.03%. The firm earned $384.30 million during the quarter, compared to analyst estimates of $361.84 million. During the same quarter in the prior year, the company earned $0.98 EPS. The business’s revenue was up 1.9% compared to the same quarter last year. Equities research analysts forecast that Argo Group International Holdings will post $3.94 earnings per share for the current fiscal year.
In other Argo Group International Holdings news, insider Kevin James Rehnberg sold 5,000 shares of the stock in a transaction on Tuesday, August 23rd. The stock was sold at an average price of $55.90, for a total transaction of $279,500.00. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Mark E. Watson III sold 10,498 shares of the stock in a transaction on Friday, August 19th. The shares were sold at an average price of $55.52, for a total value of $582,848.96. The disclosure for this sale can be found here. Corporate insiders own 5.79% of the company’s stock.
Hedge funds have recently modified their holdings of the stock. Mesirow Financial Investment Management Equity Management acquired a new stake in shares of Argo Group International Holdings during the second quarter valued at approximately $18,953,000. Vanguard Group Inc. increased its stake in shares of Argo Group International Holdings by 13.5% in the second quarter. Vanguard Group Inc. now owns 2,081,412 shares of the company’s stock valued at $108,025,000 after buying an additional 247,656 shares in the last quarter. Victory Capital Management Inc. increased its stake in shares of Argo Group International Holdings by 55.2% in the second quarter. Victory Capital Management Inc. now owns 606,073 shares of the company’s stock valued at $31,455,000 after buying an additional 215,526 shares in the last quarter. Investment Counselors of Maryland LLC acquired a new stake in shares of Argo Group International Holdings during the second quarter valued at approximately $7,280,000. Finally, BlackRock Institutional Trust Company N.A. increased its stake in shares of Argo Group International Holdings by 19.3% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 848,588 shares of the company’s stock valued at $44,042,000 after buying an additional 137,277 shares in the last quarter. Institutional investors and hedge funds own 88.95% of the company’s stock.
Argo Group International Holdings 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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Argo Group International Holdings Ltd. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Argo Group International Holdings Ltd. and related companies with MarketBeat.com's FREE daily email newsletter.