Argo Group International Holdings, Ltd. (AGII) Shares Sold by Morgan Stanley

Morgan Stanley lowered its stake in shares of Argo Group International Holdings, Ltd. (NASDAQ:AGII) by 50.5% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 79,897 shares of the insurance provider’s stock after selling 81,399 shares during the period. Morgan Stanley’s holdings in Argo Group International Holdings were worth $5,417,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of AGII. Ameritas Investment Partners Inc. acquired a new stake in Argo Group International Holdings during the first quarter valued at about $169,000. SG Americas Securities LLC acquired a new stake in Argo Group International Holdings during the first quarter valued at about $302,000. Wealthsource Partners LLC raised its stake in Argo Group International Holdings by 1.9% in the first quarter. Wealthsource Partners LLC now owns 5,300 shares of the insurance provider’s stock valued at $359,000 after buying an additional 100 shares in the last quarter. Karp Capital Management Corp acquired a new stake in Argo Group International Holdings during the first quarter valued at about $391,000. Finally, Los Angeles Capital Management & Equity Research Inc. acquired a new stake in Argo Group International Holdings during the first quarter valued at about $707,000. 87.10% of the stock is owned by hedge funds and other institutional investors.

Argo Group International Holdings, Ltd. (NASDAQ:AGII) opened at 60.50 on Friday. The stock’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 52 week low of $54.40 and a 52 week high of $69.03. The company has a market cap of $1.82 billion, a price-to-earnings ratio of 10.93 and a beta of 0.82.

Argo Group International Holdings (NASDAQ:AGII) last issued its earnings results on Monday, August 7th. The insurance provider reported $1.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 business had revenue of $447.10 million for the quarter, compared to analysts’ expectations of $412.90 million. During the same quarter in the previous year, the firm posted $1.20 EPS. The business’s revenue for the quarter was up 15.2% compared to the same quarter last year. On average, equities research analysts forecast that Argo Group International Holdings, Ltd. will post $3.95 earnings per share for the current fiscal year.

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

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Several research firms have issued reports on AGII. 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 restated a “hold” rating and issued a $70.00 price objective on shares of Argo Group International Holdings in a research note on Tuesday, July 4th. Finally, BidaskClub lowered Argo Group International Holdings from a “sell” rating to a “strong sell” rating in a research note on Tuesday, July 25th.

In other news, insider Kevin James Rehnberg sold 3,500 shares of the company’s stock in a transaction on Monday, June 12th. The shares were sold at an average price of $61.00, for a total value of $213,500.00. Following the transaction, the insider now owns 33,193 shares of the company’s stock, valued at $2,024,773. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Jay Stanley Bullock sold 6,292 shares of the company’s stock in a transaction on Thursday, June 15th. The stock was sold at an average price of $60.91, for a total transaction of $383,245.72. Following the completion of the transaction, the chief financial officer now directly owns 86,115 shares in the company, valued at approximately $5,245,264.65. The disclosure for this sale can be found here. In the last ninety days, insiders sold 16,295 shares of company stock worth $994,079. Insiders own 4.86% of the company’s stock.

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.

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

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