Argo Group International Holdings, Ltd. (NASDAQ:AGII) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued 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 analysts have also issued reports about the company. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $70.00 price target on shares of Argo Group International Holdings in a report on Tuesday, July 4th. BidaskClub upgraded Argo Group International Holdings from a “strong sell” rating to a “sell” rating in a report on Friday, June 30th.

Argo Group International Holdings (NASDAQ:AGII) last issued its quarterly earnings results on Monday, August 7th. The insurance provider reported $1.31 EPS for the quarter, topping the Zacks’ consensus estimate of $1.06 by $0.25. The business had revenue of $447.10 million for the quarter, compared to analyst estimates of $412.90 million. Argo Group International Holdings had a return on equity of 6.39% and a net margin of 10.04%. Argo Group International Holdings’s quarterly revenue was up 15.2% compared to the same quarter last year. During the same period last year, the company posted $1.20 earnings per share.

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In related news, insider Mark E. Watson III sold 22,246 shares of Argo Group International Holdings stock in a transaction on Friday, August 25th. The stock was sold at an average price of $60.19, for a total transaction of $1,338,986.74. Following the sale, the insider now directly owns 593,661 shares in the company, valued at $35,732,455.59. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 4.86% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of the business. BlackRock Inc. raised its stake in shares of Argo Group International Holdings by 9,732.6% in the first quarter. BlackRock Inc. now owns 2,502,010 shares of the insurance provider’s stock valued at $169,638,000 after buying an additional 2,476,564 shares during the period. Vanguard Group Inc. raised its stake in shares of Argo Group International Holdings by 0.5% in the second quarter. Vanguard Group Inc. now owns 2,332,774 shares of the insurance provider’s stock valued at $141,367,000 after buying an additional 11,903 shares during the period. State Street Corp raised its stake in shares of Argo Group International Holdings by 6.3% in the second quarter. State Street Corp now owns 748,556 shares of the insurance provider’s stock valued at $45,360,000 after buying an additional 44,589 shares during the period. TIAA CREF Investment Management LLC raised its stake in shares of Argo Group International Holdings by 3.0% in the second quarter. TIAA CREF Investment Management LLC now owns 511,032 shares of the insurance provider’s stock valued at $30,969,000 after buying an additional 15,037 shares during the period. Finally, Northern Trust Corp raised its stake in shares of Argo Group International Holdings by 3.9% in the second quarter. Northern Trust Corp now owns 490,457 shares of the insurance provider’s stock valued at $29,722,000 after buying an additional 18,421 shares during the period. 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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