Argo Group International Holdings, Ltd. (NYSE:ARGO) shares gapped up before the market opened on Tuesday following a better than expected earnings announcement. The stock had previously closed at $52.90, but opened at $54.73. Argo Group International shares last traded at $54.73, with a volume of 10 shares traded.
The company reported $0.44 EPS for the quarter, beating the consensus estimate of ($0.02) by $0.46. Argo Group International had a negative return on equity of 4.54% and a negative net margin of 8.49%.
The company also recently declared a quarterly dividend, which was paid on Friday, March 12th. Investors of record on Friday, February 26th were paid a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a yield of 2.26%. The ex-dividend date was Thursday, February 25th. Argo Group International’s dividend payout ratio (DPR) is currently -137.78%.
Institutional investors have recently modified their holdings of the company. Assenagon Asset Management S.A. purchased a new stake in shares of Argo Group International in the fourth quarter worth approximately $1,505,000. Frontier Capital Management Co. LLC increased its position in shares of Argo Group International by 11.8% during the fourth quarter. Frontier Capital Management Co. LLC now owns 1,164,305 shares of the company’s stock valued at $50,880,000 after acquiring an additional 123,023 shares during the last quarter. Russell Investments Group Ltd. increased its position in shares of Argo Group International by 16.5% during the fourth quarter. Russell Investments Group Ltd. now owns 159,302 shares of the company’s stock valued at $6,958,000 after acquiring an additional 22,607 shares during the last quarter. Sapience Investments LLC increased its position in shares of Argo Group International by 3.0% during the fourth quarter. Sapience Investments LLC now owns 227,286 shares of the company’s stock valued at $9,932,000 after acquiring an additional 6,690 shares during the last quarter. Finally, KBC Group NV purchased a new stake in shares of Argo Group International during the fourth quarter valued at approximately $104,000. 89.37% of the stock is owned by hedge funds and other institutional investors.
The company has a quick ratio of 0.57, a current ratio of 0.57 and a debt-to-equity ratio of 0.23. The company has a market capitalization of $1.91 billion, a PE ratio of -11.82 and a beta of 0.90. The stock has a 50-day moving average of $52.38 and a 200 day moving average of $46.30.
About Argo Group International (NYSE:ARGO)
Argo Group International Holdings, Ltd. underwrites specialty insurance and reinsurance products in the property and casualty markets. The company operates in two segments, U.S. Operations and International Operations. It offers primary and excess specialty casualty, contract liability, commercial multi-peril, product liability, environmental liability, and auto liability insurance products; workers compensation, general liability, auto liability, and various public entity liability risks; management liability, and errors and omissions liability; and surety and inland marine insurance products.
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