Argo Group International Holdings, Ltd. (AGII) Lowered to “Sell” at Zacks Investment Research

Zacks Investment Research downgraded shares of Argo Group International Holdings, Ltd. (NASDAQ:AGII) from a hold rating to a sell rating in a report published on Wednesday.

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. “

Other research analysts also recently issued reports about the stock. Keefe, Bruyette & Woods restated a hold rating and issued a $70.00 target price on shares of Argo Group International Holdings in a research note on Tuesday, July 4th. BidaskClub downgraded shares of Argo Group International Holdings from a sell rating to a strong sell rating in a research note on Tuesday, July 25th.

Shares of Argo Group International Holdings (NASDAQ:AGII) traded down 0.08% during trading on Wednesday, reaching $62.45. 20,004 shares of the company’s stock traded hands. The company has a market capitalization of $1.88 billion, a price-to-earnings ratio of 11.29 and a beta of 0.80. The stock has a 50-day moving average of $60.69 and a 200-day moving average of $62.01. Argo Group International Holdings has a 1-year low of $54.40 and a 1-year high of $69.03.

Argo Group International Holdings (NASDAQ:AGII) last announced its earnings results 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. The business had revenue of $447.10 million during the quarter, compared to the consensus estimate of $412.90 million. Argo Group International Holdings had a net margin of 10.04% and a return on equity of 6.39%. The business’s quarterly revenue was up 15.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.20 earnings per share. On average, equities analysts predict that Argo Group International Holdings will post $3.92 EPS for the current fiscal year.

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The company also recently announced a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Friday, September 1st were paid a $0.27 dividend. The ex-dividend date of this dividend was Wednesday, August 30th. This represents a $1.08 annualized dividend and a dividend yield of 1.73%. Argo Group International Holdings’s dividend payout ratio (DPR) is presently 19.49%.

In other news, insider Mark E. Watson III sold 22,246 shares of the company’s stock in a transaction on Friday, August 25th. The shares were sold at an average price of $60.19, for a total value of $1,338,986.74. Following the completion of the transaction, the insider now directly owns 593,661 shares in the company, valued at $35,732,455.59. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 4.86% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Neuberger Berman Group LLC boosted its stake in Argo Group International Holdings by 0.8% during the 2nd quarter. Neuberger Berman Group LLC now owns 3,383 shares of the insurance provider’s stock valued at $205,000 after acquiring an additional 27 shares during the last quarter. Amalgamated Bank boosted its stake in Argo Group International Holdings by 1.4% during the 2nd quarter. Amalgamated Bank now owns 3,671 shares of the insurance provider’s stock valued at $222,000 after acquiring an additional 49 shares during the last quarter. Diversified Trust Co boosted its stake in Argo Group International Holdings by 1.4% during the 2nd quarter. Diversified Trust Co now owns 3,750 shares of the insurance provider’s stock valued at $227,000 after acquiring an additional 50 shares during the last quarter. Wealthsource Partners LLC boosted its stake in Argo Group International Holdings by 1.4% during the 2nd quarter. Wealthsource Partners LLC now owns 5,375 shares of the insurance provider’s stock valued at $326,000 after acquiring an additional 75 shares during the last quarter. Finally, Colony Group LLC boosted its stake in Argo Group International Holdings by 0.4% during the 2nd quarter. Colony Group LLC now owns 30,333 shares of the insurance provider’s stock valued at $1,838,000 after acquiring an additional 121 shares during the last quarter. Hedge funds and other institutional investors own 87.09% 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.

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