Recent Analysts’ Ratings Updates for Argo Group (ARGO)

Argo Group (NASDAQ: ARGO) recently received a number of ratings updates from brokerages and research firms:

  • 8/12/2019 – Argo Group was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. 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. “
  • 8/6/2019 – Argo Group was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. 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. “
  • 8/6/2019 – Argo Group had its “buy” rating reaffirmed by analysts at Boenning Scattergood. They wrote, “We compare ARGO to a peer group of 10 specialty insurers. The peer group is trading at a higher price-to-book multiple than ARGO (1.5x vs. 1.2x), but peers have also generated stronger returns. Relative to expected ROE, ARGO’s shares appear to be undervalued (see chart below). We are maintaining our Outperform rating and our target price of $81.00, which is 1.4 times our 12-months forward BVPS estimate of $58.49.””
  • 7/31/2019 – Argo Group was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. 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. “
  • 7/23/2019 – Argo Group was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. 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. “
  • 7/22/2019 – Argo Group was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $80.00 price target on the stock. 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. “
  • 7/11/2019 – Argo Group was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $84.00 price target on the stock. 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. “
  • 7/9/2019 – Argo Group was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. 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. “

Shares of Argo Group stock traded down $0.98 on Wednesday, reaching $67.74. 688 shares of the company were exchanged, compared to its average volume of 132,030. The stock has a 50-day moving average price of $71.29. Argo Group has a 1-year low of $58.42 and a 1-year high of $78.57.

Argo Group (NASDAQ:ARGO) last announced its quarterly earnings results on Monday, August 5th. The company reported $0.48 earnings per share for the quarter, topping analysts’ consensus estimates of $0.25 by $0.23. The company had revenue of $476.60 million for the quarter, compared to analyst estimates of $478.43 million.

The business also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Friday, August 30th will be given a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.83%. The ex-dividend date is Thursday, August 29th.

In related news, insider Kevin James Rehnberg sold 6,442 shares of the firm’s stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $71.08, for a total value of $457,897.36. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Kathleen Nealon sold 1,210 shares of the firm’s stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $73.10, for a total value of $88,451.00. The disclosure for this sale can be found here.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Quadrant Capital Group LLC acquired a new stake in Argo Group in the 1st quarter valued at approximately $53,000. FMR LLC acquired a new stake in Argo Group in the 4th quarter valued at approximately $52,222,000. Two Sigma Advisers LP acquired a new stake in Argo Group in the 4th quarter valued at approximately $841,000. Principal Financial Group Inc. acquired a new stake in Argo Group in the 4th quarter valued at approximately $280,000. Finally, Frontier Capital Management Co. LLC increased its position in Argo Group by 2.1% in the 1st quarter. Frontier Capital Management Co. LLC now owns 1,397,552 shares of the company’s stock valued at $98,751,000 after acquiring an additional 28,560 shares during the period.

Argo Group International Holdings Ltd. engages in underwriting property and casualty insurance and reinsurance. The company operates through following segments: Property, Liability, Professional and Specialty. The Property segment includes both property insurance and reinsurance products. The Liability segment includes a broad range of primary and excess casualty products.

See Also: P/E Growth (PEG)

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