Hillcrest Asset Management LLC bought a new stake in shares of Argo Group International Holdings, Ltd. (NASDAQ:AGII) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 173,776 shares of the insurance provider’s stock, valued at approximately $10,644,000. Argo Group International accounts for about 1.9% of Hillcrest Asset Management LLC’s investment portfolio, making the stock its 20th largest position. Hillcrest Asset Management LLC owned about 0.59% of Argo Group International as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Janus Henderson Group PLC acquired a new position in shares of Argo Group International in the third quarter worth about $15,531,000. Thrivent Financial For Lutherans raised its position in shares of Argo Group International by 189.2% in the fourth quarter. Thrivent Financial For Lutherans now owns 307,556 shares of the insurance provider’s stock worth $18,961,000 after acquiring an additional 201,200 shares during the period. Thompson Siegel & Walmsley LLC acquired a new position in shares of Argo Group International in the third quarter worth about $10,600,000. Dean Investment Associates LLC acquired a new position in shares of Argo Group International in the fourth quarter worth about $6,109,000. Finally, Cortina Asset Management LLC raised its position in shares of Argo Group International by 24.0% in the fourth quarter. Cortina Asset Management LLC now owns 300,443 shares of the insurance provider’s stock worth $18,522,000 after acquiring an additional 58,092 shares during the period. Institutional investors own 78.24% of the company’s stock.
In related news, Director John R. Power, Jr. sold 4,108 shares of the company’s stock in a transaction dated Monday, March 5th. The shares were sold at an average price of $61.09, for a total transaction of $250,957.72. Following the completion of the sale, the director now owns 19,593 shares of the company’s stock, valued at approximately $1,196,936.37. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Mark E. Watson III sold 5,772 shares of the company’s stock in a transaction dated Wednesday, March 7th. The shares were sold at an average price of $54.02, for a total transaction of $311,803.44. Following the sale, the chief executive officer now directly owns 536,239 shares of the company’s stock, valued at approximately $28,967,630.78. The disclosure for this sale can be found here. Insiders have sold 23,597 shares of company stock valued at $1,380,543 in the last three months. Corporate insiders own 4.86% of the company’s stock.
Shares of Argo Group International Holdings, Ltd. (NASDAQ:AGII) opened at $56.15 on Wednesday. The company has a market cap of $1,863.79, a PE ratio of 40.87 and a beta of 0.77. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.52 and a current ratio of 0.52. Argo Group International Holdings, Ltd. has a one year low of $49.69 and a one year high of $60.80.
Argo Group International (NASDAQ:AGII) last released its earnings results on Tuesday, February 13th. The insurance provider reported ($0.66) EPS for the quarter, missing analysts’ consensus estimates of ($0.51) by ($0.15). The company had revenue of $441.60 million for the quarter. Argo Group International had a negative return on equity of 0.80% and a net margin of 2.84%. research analysts forecast that Argo Group International Holdings, Ltd. will post 3.47 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, March 23rd. Stockholders of record on Wednesday, March 7th will be paid a dividend of $0.27 per share. The ex-dividend date of this dividend is Tuesday, March 6th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.92%. Argo Group International’s dividend payout ratio is currently 78.61%.
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Argo Group International 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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