Raymond James Financial Services Advisors Inc. Acquires Shares of 31,565 Argo Group (ARGO)
Raymond James Financial Services Advisors Inc. acquired a new position in Argo Group (NASDAQ:ARGO) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 31,565 shares of the company’s stock, valued at approximately $2,123,000. Raymond James Financial Services Advisors Inc. owned 0.09% of Argo Group at the end of the most recent reporting period.
A number of other institutional investors have also added to or reduced their stakes in ARGO. BlackRock Inc. acquired a new position in Argo Group in the fourth quarter worth $161,071,000. Frontier Capital Management Co. LLC acquired a new position in Argo Group in the fourth quarter worth $92,065,000. Pzena Investment Management LLC acquired a new position in Argo Group in the fourth quarter worth $32,693,000. Peregrine Capital Management LLC acquired a new position in Argo Group in the fourth quarter worth $31,446,000. Finally, Chartwell Investment Partners LLC acquired a new position in Argo Group in the fourth quarter worth $26,321,000.
ARGO has been the subject of a number of research reports. Zacks Investment Research raised shares of Argo Group from a “sell” rating to a “hold” rating in a report on Friday, November 16th. Keefe, Bruyette & Woods downgraded shares of Argo Group from an “outperform” rating to a “hold” rating in a report on Thursday, December 13th. Finally, Compass Point began coverage on shares of Argo Group in a report on Tuesday, January 15th. They set a “neutral” rating and a $70.00 price target for the company. Two research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $71.20.
Argo Group (NASDAQ:ARGO) last issued its quarterly earnings data on Monday, February 11th. The company reported $0.55 EPS for the quarter, topping the consensus estimate of $0.06 by $0.49. The company had revenue of $483.60 million during the quarter, compared to analysts’ expectations of $468.50 million.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 15th. Stockholders of record on Friday, March 1st will be paid a $0.31 dividend. This represents a $1.24 annualized dividend and a dividend yield of 1.83%. The ex-dividend date is Thursday, February 28th.
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Argo Group Profile
Argo Group International Holdings Ltd. engages in underwriting property and casualty insurance and reinsurance. The company operates through following segments: Property, Liability, Professional and Specialty. The Property segment includes both property insurance and reinsurance products. The Liability segment includes a broad range of primary and excess casualty products.
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