Argo Group International Holdings, Ltd. (NASDAQ:AGII) Issues Quarterly Earnings Results

Argo Group International Holdings, Ltd. (NASDAQ:AGII) released its quarterly earnings data on Monday, August 7th. The insurance provider reported $1.31 earnings per share for the quarter, beating the consensus estimate of $1.06 by $0.25, Briefing.com reports. Argo Group International Holdings had a return on equity of 6.39% and a net margin of 10.04%. The company had revenue of $447.10 million for the quarter, compared to analyst estimates of $412.90 million. During the same period in the prior year, the company posted $1.20 EPS. The company’s revenue was up 15.2% compared to the same quarter last year.

Argo Group International Holdings (NASDAQ:AGII) traded up 1.26% on Friday, reaching $60.50. The company’s stock had a trading volume of 118,963 shares. The firm has a market cap of $1.82 billion, a P/E ratio of 10.93 and a beta of 0.82. Argo Group International Holdings has a 12 month low of $54.40 and a 12 month high of $69.03. The firm’s 50 day moving average is $60.30 and its 200-day moving average is $63.57.

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Friday, September 1st will be issued a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 1.79%. The ex-dividend date is Wednesday, August 30th. Argo Group International Holdings’s payout ratio is currently 19.49%.

In related news, insider Mark E. Watson III sold 6,503 shares of the business’s stock in a transaction that occurred on Wednesday, June 14th. The shares were sold at an average price of $61.10, for a total transaction of $397,333.30. Following the completion of the sale, the insider now directly owns 534,272 shares in the company, valued at $32,644,019.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Jay Stanley Bullock sold 6,292 shares of the business’s stock in a transaction that occurred on Thursday, June 15th. The shares were sold at an average price of $60.91, for a total transaction of $383,245.72. Following the sale, the chief financial officer now owns 86,115 shares of the company’s stock, valued at $5,245,264.65. The disclosure for this sale can be found here. Insiders sold 16,295 shares of company stock valued at $994,079 over the last quarter. Company insiders own 4.86% of the company’s stock.

Hedge funds have recently made changes to their positions in the stock. Oxford Asset Management raised its stake in shares of Argo Group International Holdings by 70.3% in the first quarter. Oxford Asset Management now owns 47,413 shares of the insurance provider’s stock valued at $3,215,000 after buying an additional 19,572 shares during the period. Burgundy Asset Management Ltd. raised its stake in shares of Argo Group International Holdings by 8.7% in the first quarter. Burgundy Asset Management Ltd. now owns 130,422 shares of the insurance provider’s stock valued at $8,843,000 after buying an additional 10,454 shares during the period. Mutual of America Capital Management LLC acquired a new stake in shares of Argo Group International Holdings during the first quarter valued at about $1,139,000. Parametric Portfolio Associates LLC raised its stake in shares of Argo Group International Holdings by 24.8% in the first quarter. Parametric Portfolio Associates LLC now owns 124,378 shares of the insurance provider’s stock valued at $8,433,000 after buying an additional 24,718 shares during the period. Finally, Sei Investments Co. raised its stake in shares of Argo Group International Holdings by 0.9% in the first quarter. Sei Investments Co. now owns 19,104 shares of the insurance provider’s stock valued at $1,296,000 after buying an additional 179 shares during the period. Institutional investors own 87.10% of the company’s stock.

Several equities research analysts have recently weighed in on the company. Zacks Investment Research upgraded Argo Group International Holdings from a “hold” rating to a “buy” rating and set a $67.00 price objective on the stock in a research note on Tuesday, June 20th. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $70.00 target price on shares of Argo Group International Holdings in a report on Tuesday, July 4th. Finally, BidaskClub downgraded Argo Group International Holdings from a “sell” rating to a “strong sell” rating in a report on Tuesday, July 25th.

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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.

Earnings History for Argo Group International Holdings (NASDAQ:AGII)

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