Argo Group International (NASDAQ:AGII) Upgraded by Zacks Investment Research to “Hold”

Argo Group International (NASDAQ:AGII) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Friday, March 9th.

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. “

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Other equities analysts also recently issued research reports about the stock. BidaskClub downgraded shares of Argo Group International from a “hold” rating to a “sell” rating in a research note on Friday, February 23rd. Keefe, Bruyette & Woods raised shares of Argo Group International from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $67.00 to $71.00 in a research note on Thursday, December 28th. Finally, ValuEngine downgraded shares of Argo Group International from a “hold” rating to a “sell” rating in a research note on Tuesday, February 13th.

Shares of NASDAQ AGII traded down $0.65 during trading hours on Friday, hitting $56.75. 140,203 shares of the stock were exchanged, compared to its average volume of 183,942. The firm has a market capitalization of $1,938.07, a price-to-earnings ratio of -134.52 and a beta of 0.61. The company has a current ratio of 0.52, a quick ratio of 0.52 and a debt-to-equity ratio of 0.22. Argo Group International has a 1-year low of $49.69 and a 1-year high of $60.80.

Argo Group International (NASDAQ:AGII) last issued its quarterly earnings data on Tuesday, February 13th. The insurance provider reported ($0.66) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.51) by ($0.15). The company had revenue of $441.60 million during the quarter. Argo Group International had a net margin of 2.84% and a negative return on equity of 0.80%. equities research analysts forecast that Argo Group International will post 3.47 earnings per share for the current year.

In related news, Director John R. Power, Jr. sold 4,108 shares of Argo Group International stock in a transaction on 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 transaction, the director now owns 19,593 shares of the company’s stock, valued at $1,196,936.37. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Jay Stanley Bullock sold 12,947 shares of Argo Group International stock in a transaction on Monday, March 12th. The stock was sold at an average price of $54.99, for a total transaction of $711,955.53. Following the transaction, the chief financial officer now directly owns 80,406 shares of the company’s stock, valued at approximately $4,421,525.94. The disclosure for this sale can be found here. Insiders have sold 36,544 shares of company stock valued at $2,092,498 in the last ninety days. Insiders own 5.22% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Champlain Investment Partners LLC raised its stake in Argo Group International by 3.8% during the fourth quarter. Champlain Investment Partners LLC now owns 1,354,005 shares of the insurance provider’s stock worth $83,474,000 after buying an additional 50,125 shares during the last quarter. Pzena Investment Management LLC raised its stake in Argo Group International by 3.9% during the third quarter. Pzena Investment Management LLC now owns 594,713 shares of the insurance provider’s stock worth $36,575,000 after buying an additional 22,078 shares during the last quarter. Peregrine Capital Management LLC raised its stake in Argo Group International by 0.6% during the fourth quarter. Peregrine Capital Management LLC now owns 525,649 shares of the insurance provider’s stock worth $32,406,000 after buying an additional 3,255 shares during the last quarter. Ameriprise Financial Inc. raised its stake in Argo Group International by 0.3% during the third quarter. Ameriprise Financial Inc. now owns 448,399 shares of the insurance provider’s stock worth $27,576,000 after buying an additional 1,291 shares during the last quarter. Finally, Wedge Capital Management L L P NC raised its stake in Argo Group International by 3.7% during the fourth quarter. Wedge Capital Management L L P NC now owns 431,525 shares of the insurance provider’s stock worth $26,604,000 after buying an additional 15,408 shares during the last quarter. 79.58% of the stock is owned by institutional investors and hedge funds.

WARNING: “Argo Group International (NASDAQ:AGII) Upgraded by Zacks Investment Research to “Hold”” was first posted by Enterprise Leader and is owned by of Enterprise Leader. If you are reading this piece on another publication, it was copied illegally and reposted in violation of U.S. & international copyright & trademark law. The original version of this piece can be viewed at https://theenterpriseleader.com/2018/04/02/argo-group-international-nasdaqagii-upgraded-to-hold-at-zacks-investment-research.html.

Argo Group International 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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