Argo Group International Holdings, Ltd. (AGII) Declares $0.27 Quarterly Dividend
Argo Group International Holdings, Ltd. (NASDAQ:AGII) announced a quarterly dividend on Tuesday, August 8th, Zacks reports. Investors of record on Friday, September 1st will be given a dividend of 0.27 per share by the insurance provider on Friday, September 15th. 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 (NASDAQ:AGII) traded down 0.08% during midday trading on Friday, hitting $60.15. The company had a trading volume of 10,601 shares. The firm’s 50 day moving average is $60.24 and its 200-day moving average is $63.45. Argo Group International Holdings has a 52 week low of $54.40 and a 52 week high of $69.03. The firm has a market capitalization of $1.81 billion, a P/E ratio of 10.87 and a beta of 0.82.
Argo Group International Holdings (NASDAQ:AGII) last released its quarterly earnings data on Monday, August 7th. The insurance provider reported $1.31 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.06 by $0.25. The firm had revenue of $447.10 million for the quarter, compared to analyst estimates 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 quarter in the prior year, the business earned $1.20 earnings per share. On average, equities research analysts expect that Argo Group International Holdings will post $3.95 EPS for the current fiscal year.
Several research firms recently commented on AGII. Zacks Investment Research upgraded shares of Argo Group International Holdings from a “hold” rating to a “buy” rating and set a $67.00 price target on the stock in a research report on Tuesday, June 20th. Keefe, Bruyette & Woods restated a “hold” rating and set a $70.00 price target on shares of Argo Group International Holdings in a research report on Tuesday, July 4th. Finally, BidaskClub upgraded shares of Argo Group International Holdings from a “strong sell” rating to a “sell” rating in a research report on Saturday, August 19th.
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In related news, CFO Jay Stanley Bullock sold 6,292 shares of the firm’s stock in a transaction on 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 owns 86,115 shares in the company, valued at $5,245,264.65. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Mark E. Watson III sold 6,503 shares of the firm’s stock in a transaction on Wednesday, June 14th. The shares were sold at an average price of $61.10, for a total transaction of $397,333.30. Following the sale, the insider now owns 534,272 shares in the company, valued at approximately $32,644,019.20. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 16,295 shares of company stock worth $994,079. 4.86% of the stock is owned by company insiders.
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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