Argo Group International Holdings, Ltd. (NASDAQ:AGII) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Wednesday.

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 equities research analysts also recently issued reports about the stock. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $70.00 price target on shares of Argo Group International Holdings in a research note on Tuesday, July 4th. BidaskClub downgraded shares of Argo Group International Holdings from a “sell” rating to a “strong sell” rating in a research note on Tuesday, July 25th.

Argo Group International Holdings (AGII) traded down 0.64% during trading on Wednesday, reaching $62.50. The company’s stock had a trading volume of 127,950 shares. The stock’s 50-day moving average is $60.63 and its 200 day moving average is $62.00. The company has a market cap of $1.88 billion, a P/E ratio of 11.30 and a beta of 0.80. Argo Group International Holdings has a 12 month low of $54.40 and a 12 month high of $69.03.

Argo Group International Holdings (NASDAQ:AGII) last posted its quarterly earnings results on Monday, August 7th. The insurance provider reported $1.31 earnings per share for the quarter, beating the consensus estimate of $1.06 by $0.25. Argo Group International Holdings had a net margin of 10.04% and a return on equity of 6.39%. The firm had revenue of $447.10 million during the quarter, compared to the consensus estimate of $412.90 million. During the same period in the previous year, the firm posted $1.20 earnings per share. The business’s revenue was up 15.2% compared to the same quarter last year. On average, equities analysts forecast that Argo Group International Holdings will post $3.92 EPS for the current fiscal year.

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In other news, insider Mark E. Watson III sold 22,246 shares of the business’s stock in a transaction dated Friday, August 25th. The shares were 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 of the company’s stock, valued at $35,732,455.59. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 4.86% of the company’s stock.

Large investors have recently bought and sold shares of the company. Ameritas Investment Partners Inc. bought a new stake in shares of Argo Group International Holdings during the first quarter worth about $169,000. Dubuque Bank & Trust Co. bought a new stake in shares of Argo Group International Holdings during the second quarter worth about $176,000. Quantbot Technologies LP bought a new stake in shares of Argo Group International Holdings during the second quarter worth about $195,000. Neuberger Berman Group LLC increased its position in shares of Argo Group International Holdings by 0.8% during the second quarter. Neuberger Berman Group LLC now owns 3,383 shares of the insurance provider’s stock worth $205,000 after acquiring an additional 27 shares in the last quarter. Finally, Amalgamated Bank increased its position in shares of Argo Group International Holdings by 1.4% during the second quarter. Amalgamated Bank now owns 3,671 shares of the insurance provider’s stock worth $222,000 after acquiring an additional 49 shares in the last quarter. 87.09% of the stock is owned by institutional investors.

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.

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