Argo Group International Holdings, Ltd. (AGII) Upgraded to Hold by Zacks Investment Research
Argo Group International Holdings, Ltd. (NASDAQ:AGII) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a research note issued to investors 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. “
Several other analysts also recently weighed in on AGII. Keefe, Bruyette & Woods reissued a “hold” rating on shares of Argo Group International Holdings in a research note on Tuesday. Compass Point downgraded shares of Argo Group International Holdings from a “neutral” rating to a “sell” rating in a research note on Wednesday, February 15th.
Shares of Argo Group International Holdings (NASDAQ:AGII) traded up 0.38% on Tuesday, hitting $65.50. The stock had a trading volume of 169,271 shares. Argo Group International Holdings has a 1-year low of $49.10 and a 1-year high of $69.03. The company has a market capitalization of $1.98 billion, a PE ratio of 12.96 and a beta of 0.80. The firm has a 50-day moving average of $66.13 and a 200 day moving average of $64.55.
Argo Group International Holdings (NASDAQ:AGII) last posted its quarterly earnings results on Wednesday, May 3rd. The insurance provider reported $0.71 earnings per share for the quarter, topping the consensus estimate of $0.64 by $0.07. The business had revenue of $428.10 million during the quarter, compared to the consensus estimate of $407.90 million. Argo Group International Holdings had a net margin of 9.31% and a return on equity of 6.69%. The firm’s revenue for the quarter was up 15.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.98 earnings per share. On average, equities analysts anticipate that Argo Group International Holdings will post $3.88 earnings per share for the current fiscal year.
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In other Argo Group International Holdings news, CFO Jay Stanley Bullock sold 10,178 shares of the business’s stock in a transaction on Friday, March 10th. The shares were sold at an average price of $67.59, for a total value of $687,931.02. Following the completion of the sale, the chief financial officer now directly owns 87,678 shares of the company’s stock, valued at $5,926,156.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 5.79% of the company’s stock.
A number of hedge funds have recently bought and sold shares of AGII. Ameritas Investment Partners Inc. acquired a new stake in Argo Group International Holdings during the first quarter valued at $169,000. Aperio Group LLC increased its stake in Argo Group International Holdings by 0.3% in the third quarter. Aperio Group LLC now owns 4,044 shares of the insurance provider’s stock valued at $228,000 after buying an additional 13 shares in the last quarter. SG Americas Securities LLC acquired a new stake in Argo Group International Holdings during the third quarter valued at $257,000. A.R.T. Advisors LLC acquired a new stake in Argo Group International Holdings during the fourth quarter valued at $303,000. Finally, First Republic Investment Management Inc. increased its stake in Argo Group International Holdings by 19.1% in the fourth quarter. First Republic Investment Management Inc. now owns 5,235 shares of the insurance provider’s stock valued at $345,000 after buying an additional 840 shares in the last quarter. 87.48% of the stock is owned by institutional investors and hedge funds.
About Argo Group International Holdings
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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