Zacks Investment Research cut shares of Argo Group International Holdings Ltd. (NASDAQ:AGII) from a hold rating to a sell rating in a report issued on Tuesday morning.

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. “

Several other brokerages have also recently commented on AGII. Compass Point boosted their price target on Argo Group International Holdings from $52.00 to $54.00 and gave the company a neutral rating in a research note on Thursday, August 4th. JMP Securities started coverage on Argo Group International Holdings in a research note on Monday, June 27th. They issued a market perform rating for the company. Finally, Keefe, Bruyette & Woods boosted their price target on Argo Group International Holdings from $56.00 to $58.00 and gave the company a market perform rating in a research note on Thursday, August 4th. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company. The stock has a consensus rating of Hold and an average price target of $62.25.

Shares of Argo Group International Holdings (NASDAQ:AGII) opened at 57.80 on Tuesday. The firm has a market cap of $1.74 billion, a P/E ratio of 13.34 and a beta of 0.69. The stock’s 50 day moving average is $56.55 and its 200-day moving average is $53.59. Argo Group International Holdings has a 52-week low of $41.55 and a 52-week high of $60.36.

Argo Group International Holdings (NASDAQ:AGII) last announced its quarterly earnings results on Tuesday, August 2nd. The company reported $1.20 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.51 by $0.69. The business earned $384.30 million during the quarter, compared to analysts’ expectations of $361.84 million. Argo Group International Holdings had a return on equity of 6.68% and a net margin of 9.03%. The firm’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.98 EPS. Equities analysts anticipate that Argo Group International Holdings will post $3.94 earnings per share for the current fiscal year.

In other news, CFO Jay Stanley Bullock sold 18,661 shares of the company’s stock in a transaction that occurred on Monday, September 12th. The stock was sold at an average price of $56.62, for a total transaction of $1,056,585.82. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Kevin James Rehnberg purchased 8,543 shares of the business’s stock in a transaction dated Friday, September 23rd. The shares were acquired at an average price of $56.21 per share, with a total value of $480,202.03. Following the completion of the acquisition, the insider now owns 30,238 shares of the company’s stock, valued at $1,699,677.98. The disclosure for this purchase can be found here. 5.79% of the stock is owned by corporate insiders.

Several hedge funds and other institutional investors have recently modified their holdings of AGII. BNP Paribas Arbitrage SA raised its position in shares of Argo Group International Holdings by 409.9% in the second quarter. BNP Paribas Arbitrage SA now owns 2,065 shares of the company’s stock worth $107,000 after buying an additional 1,660 shares during the period. Barclays PLC raised its position in shares of Argo Group International Holdings by 117.0% in the first quarter. Barclays PLC now owns 24,642 shares of the company’s stock worth $1,404,000 after buying an additional 13,287 shares during the last quarter. Jacobs Levy Equity Management Inc. raised its position in shares of Argo Group International Holdings by 39.5% in the first quarter. Jacobs Levy Equity Management Inc. now owns 31,589 shares of the company’s stock worth $1,813,000 after buying an additional 8,940 shares during the last quarter. Nuveen Asset Management LLC raised its position in shares of Argo Group International Holdings by 62.8% in the first quarter. Nuveen Asset Management LLC now owns 61,261 shares of the company’s stock worth $3,516,000 after buying an additional 23,627 shares during the last quarter. Finally, Wellington Management Group LLP raised its position in shares of Argo Group International Holdings by 5.5% in the first quarter. Wellington Management Group LLP now owns 1,441,227 shares of the company’s stock worth $82,712,000 after buying an additional 75,599 shares during the last quarter. Institutional investors own 88.95% 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.

5 Day Chart for NASDAQ:AGII

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