Comerica Bank Sells 4,947 Shares of Argo Group (NASDAQ:ARGO)

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Comerica Bank reduced its stake in Argo Group (NASDAQ:ARGO) by 8.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 55,865 shares of the company’s stock after selling 4,947 shares during the quarter. Comerica Bank owned about 0.16% of Argo Group worth $3,756,000 at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. Meeder Asset Management Inc. raised its holdings in Argo Group by 95.7% in the 2nd quarter. Meeder Asset Management Inc. now owns 362 shares of the company’s stock valued at $27,000 after acquiring an additional 177 shares during the period. Huntington National Bank acquired a new position in shares of Argo Group during the 2nd quarter worth approximately $36,000. Steward Partners Investment Advisory LLC acquired a new position in shares of Argo Group during the 2nd quarter worth approximately $46,000. Ladenburg Thalmann Financial Services Inc. grew its position in shares of Argo Group by 93.7% during the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 990 shares of the company’s stock worth $73,000 after purchasing an additional 479 shares in the last quarter. Finally, Princeton Global Asset Management LLC acquired a new position in shares of Argo Group during the 2nd quarter worth approximately $108,000.

Shares of NASDAQ:ARGO opened at $62.86 on Friday. Argo Group has a 12-month low of $60.36 and a 12-month high of $78.57. The company’s 50 day moving average price is $67.21 and its two-hundred day moving average price is $70.26.

Argo Group (NASDAQ:ARGO) last released its quarterly earnings results on Wednesday, November 6th. The company reported ($0.44) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.36) by ($0.08). The business had revenue of $493.60 million for the quarter, compared to analyst estimates of $483.37 million.

In other Argo Group news, CFO Jay Stanley Bullock sold 14,623 shares of the business’s stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $68.72, for a total value of $1,004,892.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

A number of brokerages have issued reports on ARGO. William Blair lowered shares of Argo Group from an “outperform” rating to a “market perform” rating in a research report on Thursday. Boenning Scattergood lowered shares of Argo Group from an “outperform” rating to a “neutral” rating in a research report on Wednesday, October 30th. Zacks Investment Research lowered shares of Argo Group from a “hold” rating to a “sell” rating in a research report on Wednesday, October 23rd. Finally, TheStreet lowered shares of Argo Group from a “b-” rating to a “c” rating in a research report on Wednesday. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the stock. Argo Group has an average rating of “Hold” and a consensus target price of $74.06.

About Argo Group

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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Institutional Ownership by Quarter for Argo Group (NASDAQ:ARGO)

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