Argo Group International Holdings, Ltd. (AGII) Announces Earnings Results, Misses Expectations By $2.90 EPS
Argo Group International Holdings, Ltd. (NASDAQ:AGII) announced its earnings results on Thursday. The insurance provider reported ($1.91) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.99 by ($2.90), Briefing.com reports. Argo Group International Holdings had a net margin of 10.04% and a return on equity of 6.39%. The firm had revenue of $439.20 million during the quarter, compared to analyst estimates of $433.90 million. During the same period in the prior year, the business posted $1.12 EPS. The firm’s quarterly revenue was up 5.4% compared to the same quarter last year.
Argo Group International Holdings (AGII) traded down $1.40 during trading hours on Friday, hitting $61.40. The company’s stock had a trading volume of 172,083 shares, compared to its average volume of 126,661. The firm has a market cap of $1,850.00, a price-to-earnings ratio of 16.57 and a beta of 0.85. Argo Group International Holdings has a 52-week low of $56.15 and a 52-week high of $69.03. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.49 and a quick ratio of 0.49.
In other Argo Group International Holdings news, insider Mark E. Watson III sold 22,246 shares of the business’s stock in a transaction that occurred on 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 transaction, the insider now owns 593,661 shares of the company’s stock, valued at approximately $35,732,455.59. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 4.86% of the stock is owned by insiders.
A number of equities research analysts recently issued reports on the company. BidaskClub raised Argo Group International Holdings from a “strong sell” rating to a “sell” rating in a research report on Saturday, August 19th. Zacks Investment Research raised Argo Group International Holdings from a “hold” rating to a “buy” rating and set a $66.00 target price on the stock in a research report on Friday, August 11th.
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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