Argo Group International Holdings, Ltd. (AGII) Expected to Post Quarterly Sales of $424.05 Million
Equities analysts expect that Argo Group International Holdings, Ltd. (NASDAQ:AGII) will post $424.05 million in sales for the current quarter, according to Zacks. Two analysts have provided estimates for Argo Group International Holdings’ earnings. The lowest sales estimate is $423.50 million and the highest is $424.60 million. Argo Group International Holdings posted sales of $399.00 million during the same quarter last year, which suggests a positive year-over-year growth rate of 6.3%. The business is expected to report its next earnings results on Tuesday, November 7th.
On average, analysts expect that Argo Group International Holdings will report full-year sales of $424.05 million for the current year, with estimates ranging from $1.71 billion to $1.72 billion. For the next financial year, analysts forecast that the business will report sales of $1.84 billion per share, with estimates ranging from $1.83 billion to $1.84 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side analysts that follow Argo Group International Holdings.
Argo Group International Holdings (NASDAQ:AGII) last posted its quarterly earnings results on Monday, August 7th. The insurance provider reported $1.31 EPS for the quarter, topping the consensus estimate of $1.06 by $0.25. Argo Group International Holdings had a return on equity of 6.39% and a net margin of 10.04%. The business had revenue of $447.10 million for the quarter, compared to analyst estimates of $412.90 million. During the same quarter in the previous year, the firm earned $1.20 EPS. The company’s quarterly revenue was up 15.2% compared to the same quarter last year.
Several research firms recently weighed in on AGII. Zacks Investment Research downgraded Argo Group International Holdings from a “buy” rating to a “hold” rating in a research report on Monday, September 11th. BidaskClub upgraded Argo Group International Holdings from a “strong sell” rating to a “sell” rating in a research report on Saturday, August 19th. Finally, Keefe, Bruyette & Woods reiterated a “hold” rating and set a $70.00 target price on shares of Argo Group International Holdings in a research report on Tuesday, July 4th.
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In other Argo Group International Holdings news, insider Mark E. Watson III sold 22,246 shares of the company’s stock in a transaction dated Friday, August 25th. The stock was sold at an average price of $60.19, for a total transaction of $1,338,986.74. Following the completion of the sale, the insider now directly owns 593,661 shares in the company, valued at $35,732,455.59. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 4.86% of the company’s stock.
A number of large investors have recently made changes to their positions in AGII. Bank of New York Mellon Corp increased its stake in Argo Group International Holdings by 5.1% during the first quarter. Bank of New York Mellon Corp now owns 160,436 shares of the insurance provider’s stock worth $10,878,000 after acquiring an additional 7,770 shares during the last quarter. Swiss National Bank increased its stake in Argo Group International Holdings by 1.9% during the first quarter. Swiss National Bank now owns 49,436 shares of the insurance provider’s stock worth $3,352,000 after acquiring an additional 900 shares during the last quarter. UBS Asset Management Americas Inc. increased its stake in Argo Group International Holdings by 16.2% during the first quarter. UBS Asset Management Americas Inc. now owns 20,882 shares of the insurance provider’s stock worth $1,416,000 after acquiring an additional 2,916 shares during the last quarter. Karp Capital Management Corp acquired a new stake in Argo Group International Holdings during the first quarter worth about $391,000. Finally, Sei Investments Co. increased its stake in Argo Group International Holdings by 0.9% during the first quarter. Sei Investments Co. now owns 19,104 shares of the insurance provider’s stock worth $1,296,000 after acquiring an additional 179 shares during the last quarter. Institutional investors own 87.09% of the company’s stock.
Shares of Argo Group International Holdings (AGII) opened at 62.55 on Friday. Argo Group International Holdings has a 12 month low of $54.40 and a 12 month high of $69.03. The firm has a market capitalization of $1.89 billion, a P/E ratio of 11.30 and a beta of 0.80. The company’s 50 day moving average price is $60.39 and its 200-day moving average price is $62.11.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 15th. Investors of record on Friday, September 1st were given a dividend of $0.27 per share. The ex-dividend date of this dividend was Wednesday, August 30th. This represents a $1.08 annualized dividend and a yield of 1.73%. Argo Group International Holdings’s dividend payout ratio (DPR) is presently 19.49%.
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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