$441.75 Million in Sales Expected for Argo Group International Holdings, Ltd. (AGII) This Quarter
Wall Street analysts forecast that Argo Group International Holdings, Ltd. (NASDAQ:AGII) will post $441.75 million in sales for the current quarter, according to Zacks. Two analysts have provided estimates for Argo Group International’s earnings, with the lowest sales estimate coming in at $438.30 million and the highest estimate coming in at $445.20 million. Argo Group International reported sales of $392.10 million in the same quarter last year, which would suggest a positive year over year growth rate of 12.7%. The business is expected to report its next earnings report on Monday, February 12th.
According to Zacks, analysts expect that Argo Group International will report full-year sales of $441.75 million for the current financial year, with estimates ranging from $1.73 billion to $1.74 billion. For the next financial year, analysts expect that the business will post sales of $1.89 billion per share, with estimates ranging from $1.88 billion to $1.89 billion. Zacks’ sales averages are an average based on a survey of analysts that follow Argo Group International.
Argo Group International (NASDAQ:AGII) last released its quarterly earnings data on Thursday, November 2nd. The insurance provider reported ($1.91) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.99 by ($2.90). The firm had revenue of $439.20 million for the quarter, compared to the consensus estimate of $433.90 million. Argo Group International had a net margin of 3.15% and a return on equity of 1.36%. The business’s revenue for the quarter was up 5.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.12 earnings per share.
Argo Group International (NASDAQ AGII) traded down $0.90 on Friday, hitting $60.55. The stock had a trading volume of 239,601 shares, compared to its average volume of 123,120. The company has a market capitalization of $1,830.00, a PE ratio of 80.26 and a beta of 0.82. The company has a current ratio of 0.52, a quick ratio of 0.52 and a debt-to-equity ratio of 0.22. Argo Group International has a 1-year low of $56.15 and a 1-year high of $69.03.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Friday, December 1st will be paid a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 1.78%. The ex-dividend date is Thursday, November 30th. Argo Group International’s dividend payout ratio is 63.91%.
In related news, Director F Sedgwick Browne sold 4,144 shares of the business’s stock in a transaction on Thursday, November 30th. The stock was sold at an average price of $61.24, for a total value of $253,778.56. Following the sale, the director now owns 23,169 shares of the company’s stock, valued at approximately $1,418,869.56. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Kevin James Rehnberg sold 2,500 shares of the business’s stock in a transaction on Tuesday, November 14th. The shares were sold at an average price of $59.74, for a total value of $149,350.00. Following the completion of the sale, the insider now directly owns 30,793 shares in the company, valued at approximately $1,839,573.82. The disclosure for this sale can be found here. In the last ninety days, insiders sold 10,781 shares of company stock worth $655,941. 4.86% of the stock is owned by insiders.
A number of hedge funds have recently made changes to their positions in AGII. Quantbot Technologies LP acquired a new stake in Argo Group International in the 2nd quarter valued at $195,000. Neuberger Berman Group LLC boosted its stake in Argo Group International by 0.8% in the second quarter. Neuberger Berman Group LLC now owns 3,383 shares of the insurance provider’s stock worth $205,000 after purchasing an additional 27 shares in the last quarter. Amalgamated Bank boosted its stake in Argo Group International by 1.4% in the second quarter. Amalgamated Bank now owns 3,671 shares of the insurance provider’s stock worth $222,000 after purchasing an additional 49 shares in the last quarter. Cubist Systematic Strategies LLC acquired a new position in Argo Group International in the second quarter worth $271,000. Finally, BNP Paribas Arbitrage SA boosted its stake in Argo Group International by 210.6% in the second quarter. BNP Paribas Arbitrage SA now owns 4,569 shares of the insurance provider’s stock worth $277,000 after purchasing an additional 3,098 shares in the last quarter. 86.96% of the stock is currently owned by institutional investors and hedge funds.
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About Argo Group International
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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