Argo Group International Holdings, Ltd. (NASDAQ:AGII) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “sell” rating in a note issued to investors on Friday.
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. “
A number of other analysts have also commented on AGII. Compass Point lowered Argo Group International Holdings from a “neutral” rating to a “sell” rating in a research note on Wednesday, February 15th. Keefe, Bruyette & Woods set a $70.00 price objective on Argo Group International Holdings and gave the company a “hold” rating in a research note on Thursday, April 6th.
Argo Group International Holdings (NASDAQ:AGII) traded down 0.08% during midday trading on Friday, reaching $65.15. 110,281 shares of the company were exchanged. The company has a market capitalization of $1.96 billion, a price-to-earnings ratio of 13.72 and a beta of 0.80. Argo Group International Holdings has a 52-week low of $49.10 and a 52-week high of $69.03. The company has a 50 day moving average of $66.35 and a 200-day moving average of $63.93.
Argo Group International Holdings (NASDAQ:AGII) last posted its quarterly earnings data on Monday, February 13th. The insurance provider reported $0.65 EPS for the quarter, beating analysts’ consensus estimates of $0.62 by $0.03. The business had revenue of $405.40 million for the quarter, compared to analyst estimates of $352.70 million. Argo Group International Holdings had a return on equity of 6.69% and a net margin of 9.31%. The business’s revenue for the quarter was up 8.6% compared to the same quarter last year. During the same quarter last year, the company earned $0.78 earnings per share. On average, equities research analysts anticipate that Argo Group International Holdings will post $3.71 earnings per share for the current fiscal year.
In related news, CFO Jay Stanley Bullock sold 10,178 shares of the stock in a transaction on Friday, March 10th. The stock was sold at an average price of $67.59, for a total transaction of $687,931.02. Following the sale, the chief financial officer now owns 87,678 shares of the company’s stock, valued at $5,926,156.02. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 5.79% of the stock is owned by company insiders.
Hedge funds have recently bought and sold shares of the stock. Nationwide Fund Advisors increased its position in Argo Group International Holdings by 3.7% in the third quarter. Nationwide Fund Advisors now owns 80,780 shares of the insurance provider’s stock valued at $4,558,000 after buying an additional 2,862 shares during the period. James Investment Research Inc. increased its position in Argo Group International Holdings by 7.7% in the third quarter. James Investment Research Inc. now owns 463,530 shares of the insurance provider’s stock valued at $26,152,000 after buying an additional 33,287 shares during the period. Chicago Equity Partners LLC acquired a new position in Argo Group International Holdings during the third quarter valued at $707,000. Rothschild Asset Management Inc. increased its position in Argo Group International Holdings by 66.0% in the third quarter. Rothschild Asset Management Inc. now owns 162,576 shares of the insurance provider’s stock valued at $9,173,000 after buying an additional 64,615 shares during the period. Finally, Peregrine Capital Management LLC acquired a new position in Argo Group International Holdings during the third quarter valued at $29,125,000. 87.48% of the stock is currently owned by institutional investors and hedge funds.
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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