Argo Group International Holdings, Ltd. (NASDAQ:AGII) Shares Sold by Mesirow Financial Investment Management Equity Management

Mesirow Financial Investment Management Equity Management lowered its stake in Argo Group International Holdings, Ltd. (NASDAQ:AGII) by 0.3% during the second quarter, according to its most recent filing with the SEC. The firm owned 294,450 shares of the insurance provider’s stock after selling 970 shares during the period. Mesirow Financial Investment Management Equity Management owned 0.98% of Argo Group International Holdings worth $17,845,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. BlackRock Inc. raised its stake in Argo Group International Holdings by 9,732.6% in the first quarter. BlackRock Inc. now owns 2,502,010 shares of the insurance provider’s stock valued at $169,638,000 after buying an additional 2,476,564 shares during the period. Tributary Capital Management LLC acquired a new stake in Argo Group International Holdings during the second quarter valued at $11,786,000. Vanguard Group Inc. raised its stake in Argo Group International Holdings by 5.4% in the first quarter. Vanguard Group Inc. now owns 2,320,871 shares of the insurance provider’s stock valued at $157,355,000 after buying an additional 118,097 shares during the period. State Street Corp raised its stake in Argo Group International Holdings by 18.6% in the first quarter. State Street Corp now owns 703,967 shares of the insurance provider’s stock valued at $47,728,000 after buying an additional 110,594 shares during the period. Finally, Citadel Advisors LLC raised its stake in Argo Group International Holdings by 295.8% in the first quarter. Citadel Advisors LLC now owns 146,935 shares of the insurance provider’s stock valued at $9,962,000 after buying an additional 109,807 shares during the period. Hedge funds and other institutional investors own 87.10% of the company’s stock.

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

Argo Group International Holdings (NASDAQ:AGII) last posted its quarterly earnings results on Monday, August 7th. The insurance provider reported $1.31 EPS for the quarter, beating the consensus estimate of $1.06 by $0.25. Argo Group International Holdings had a net margin of 10.04% and a return on equity of 6.39%. 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 earned $1.20 earnings per share. The firm’s revenue was up 15.2% on a year-over-year basis. On average, equities research analysts forecast that Argo Group International Holdings, Ltd. will post $3.95 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Friday, September 1st will be paid a dividend of $0.27 per share. 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%.

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A number of brokerages have recently commented on AGII. Zacks Investment Research raised Argo Group International Holdings from a “hold” rating to a “buy” rating and set a $66.00 price target on the stock in a research note on Friday, August 11th. Keefe, Bruyette & Woods reissued a “hold” rating and set a $70.00 price target on shares of Argo Group International Holdings in a research note on Tuesday, July 4th. Finally, BidaskClub upgraded Argo Group International Holdings from a “strong sell” rating to a “sell” rating in a research report on Friday, June 30th.

In other news, CFO Jay Stanley Bullock sold 6,292 shares of the stock in a transaction dated 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 directly owns 86,115 shares of the company’s stock, valued at approximately $5,245,264.65. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Kevin James Rehnberg sold 3,500 shares of the stock in a transaction dated Monday, June 12th. The stock was sold at an average price of $61.00, for a total transaction of $213,500.00. Following the sale, the insider now directly owns 33,193 shares in the company, valued at $2,024,773. The disclosure for this sale can be found here. Over the last three months, insiders have sold 16,295 shares of company stock worth $994,079. Corporate insiders own 4.86% of the company’s stock.

About Argo Group International Holdings

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.

Institutional Ownership by Quarter for Argo Group International Holdings (NASDAQ:AGII)

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