BidaskClub Downgrades Argo Group International (AGII) to Sell

Argo Group International (NASDAQ:AGII) was downgraded by equities research analysts at BidaskClub from a “hold” rating to a “sell” rating in a report issued on Saturday.

A number of other equities analysts also recently commented on the stock. Keefe, Bruyette & Woods raised shares of Argo Group International from a “market perform” rating to an “outperform” rating and boosted their price objective for the stock from $67.00 to $71.00 in a research note on Thursday, December 28th. Zacks Investment Research raised shares of Argo Group International from a “strong sell” rating to a “hold” rating in a research note on Tuesday, December 19th.

Shares of Argo Group International (AGII) traded down $0.70 during trading hours on Friday, reaching $59.85. 120,319 shares of the company were exchanged, compared to its average volume of 128,019. The company has a market capitalization of $1,797.18, a P/E ratio of 35.21 and a beta of 0.82. Argo Group International has a 52 week low of $56.15 and a 52 week high of $69.03. The company has a quick ratio of 0.52, a current ratio of 0.52 and a debt-to-equity ratio of 0.22.

Argo Group International (NASDAQ:AGII) last issued its quarterly earnings data on Thursday, November 2nd. The insurance provider reported ($1.91) EPS for the quarter, missing analysts’ consensus estimates of $0.99 by ($2.90). The business had revenue of $439.20 million during the quarter, compared to the consensus estimate of $433.90 million. Argo Group International had a return on equity of 1.36% and a net margin of 3.15%. The business’s quarterly revenue was up 5.4% on a year-over-year basis. During the same period last year, the firm earned $1.12 EPS. equities analysts anticipate that Argo Group International will post 0.87 earnings per share for the current fiscal year.

In other news, CFO Jay Stanley Bullock sold 6,743 shares of the company’s stock in a transaction on Thursday, December 7th. The stock was sold at an average price of $60.97, for a total transaction of $411,120.71. Following the transaction, the chief financial officer now directly owns 85,767 shares of the company’s stock, valued at $5,229,213.99. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Kevin James Rehnberg sold 2,500 shares of the company’s stock in a transaction on Tuesday, November 14th. The stock was sold at an average price of $59.74, for a total value of $149,350.00. Following the transaction, the insider now directly owns 30,793 shares in the company, valued at $1,839,573.82. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 17,524 shares of company stock worth $1,067,061. Insiders own 4.86% of the company’s stock.

Several hedge funds have recently modified their holdings of the company. Quantbot Technologies LP purchased a new stake in shares of Argo Group International during the second quarter valued at $195,000. Neuberger Berman Group LLC grew its holdings in shares of Argo Group International by 0.8% during the second quarter. Neuberger Berman Group LLC now owns 3,383 shares of the insurance provider’s stock valued at $205,000 after buying an additional 27 shares during the last quarter. Amalgamated Bank grew its holdings in shares of Argo Group International by 1.4% during the second quarter. Amalgamated Bank now owns 3,671 shares of the insurance provider’s stock valued at $222,000 after buying an additional 49 shares during the last quarter. Cubist Systematic Strategies LLC purchased a new stake in shares of Argo Group International during the second quarter valued at $271,000. Finally, BNP Paribas Arbitrage SA grew its holdings in shares of Argo Group International by 210.6% during the second quarter. BNP Paribas Arbitrage SA now owns 4,569 shares of the insurance provider’s stock valued at $277,000 after buying an additional 3,098 shares during the last quarter. 86.92% of the stock is currently owned by institutional investors and hedge funds.

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About Argo Group International

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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