Gabelli Funds LLC Acquires Shares of 112,282 Argo Group (ARGO)

Gabelli Funds LLC acquired a new stake in Argo Group (NASDAQ:ARGO) during the 4th quarter, HoldingsChannel.com reports. The fund acquired 112,282 shares of the company’s stock, valued at approximately $7,551,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. First Hawaiian Bank acquired a new stake in Argo Group in the fourth quarter valued at $358,000. Virtu Financial LLC acquired a new stake in Argo Group in the fourth quarter valued at $263,000. Boston Advisors LLC acquired a new stake in Argo Group in the fourth quarter valued at $527,000. Nisa Investment Advisors LLC acquired a new stake in Argo Group in the fourth quarter valued at $59,000. Finally, Peregrine Capital Management LLC acquired a new stake in Argo Group in the fourth quarter valued at $31,446,000.

ARGO opened at $67.52 on Wednesday. Argo Group has a one year low of $50.53 and a one year high of $70.00.

Argo Group (NASDAQ:ARGO) last posted its earnings results on Monday, November 5th. The company reported $0.68 EPS for the quarter, topping the Zacks’ consensus estimate of $0.49 by $0.19. The firm had revenue of $484.70 million for the quarter, compared to analyst estimates of $462.83 million.

In other news, CFO Jay Stanley Bullock sold 6,207 shares of Argo Group stock in a transaction dated Tuesday, December 11th. The stock was sold at an average price of $69.09, for a total transaction of $428,841.63. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Mural R. Josephson sold 5,543 shares of Argo Group stock in a transaction dated Wednesday, December 12th. The stock was sold at an average price of $69.02, for a total value of $382,577.86. The disclosure for this sale can be found here. Insiders have sold 45,083 shares of company stock worth $3,078,265 in the last quarter.

ARGO has been the topic of a number of analyst reports. Raymond James cut their price target on Argo Group from $72.00 to $70.00 and set a “strong-buy” rating on the stock in a research note on Friday, October 19th. Zacks Investment Research cut Argo Group from a “hold” rating to a “sell” rating in a research note on Wednesday, November 7th. Keefe, Bruyette & Woods cut Argo Group from an “outperform” rating to a “hold” rating in a research note on Thursday, December 13th. Boenning Scattergood set a $72.00 price target on Argo Group and gave the company a “buy” rating in a research note on Tuesday, November 6th. Finally, Compass Point initiated coverage on Argo Group in a research note on Tuesday, January 15th. They issued a “neutral” rating and a $70.00 price target on the stock. Two analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $71.20.

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Argo Group Profile

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.

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Institutional Ownership by Quarter for Argo Group (NASDAQ:ARGO)

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