Zacks Investment Research Lowers Argo Group International (NASDAQ:AGII) to Sell

Zacks Investment Research cut shares of Argo Group International (NASDAQ:AGII) from a hold rating to a sell rating in a research note published on Tuesday, January 9th.

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. “

A number of other research analysts have also issued reports on the company. BidaskClub lowered Argo Group International from a hold rating to a sell rating in a report on Saturday, January 6th. Keefe, Bruyette & Woods upgraded Argo Group International from a market perform rating to an outperform rating and boosted their target price for the stock from $67.00 to $71.00 in a research report on Thursday, December 28th.

Argo Group International (NASDAQ:AGII) opened at $62.55 on Tuesday. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.52 and a quick ratio of 0.52. The firm has a market capitalization of $1,823.89, a PE ratio of 36.79 and a beta of 0.82. Argo Group International has a 52-week low of $56.15 and a 52-week high of $69.03.

Argo Group International (NASDAQ:AGII) last posted its earnings results on Thursday, November 2nd. The insurance provider reported ($1.91) earnings per share for the quarter, missing the consensus estimate of $0.99 by ($2.90). The business had revenue of $439.20 million for the quarter, compared to analysts’ expectations of $433.90 million. Argo Group International had a return on equity of 1.36% and a net margin of 3.15%. Argo Group International’s revenue for the quarter was up 5.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.12 EPS. equities research analysts anticipate that Argo Group International will post 0.87 earnings per share for the current year.

In related news, insider Kevin James Rehnberg sold 2,500 shares of the stock in a transaction dated Tuesday, November 14th. The stock was sold at an average price of $59.74, for a total value of $149,350.00. Following the completion of the transaction, the insider now owns 30,793 shares of the company’s stock, valued at $1,839,573.82. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director F Sedgwick Browne sold 4,144 shares of the stock in a transaction that occurred 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 transaction, the director now directly owns 23,169 shares in the company, valued at approximately $1,418,869.56. The disclosure for this sale can be found here. Insiders have sold 17,524 shares of company stock valued at $1,067,061 over the last 90 days. 4.86% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Quantbot Technologies LP bought a new stake in shares of Argo Group International in the 2nd quarter worth approximately $195,000. Neuberger Berman Group LLC increased its position in Argo Group International by 0.8% in the 2nd quarter. Neuberger Berman Group LLC now owns 3,383 shares of the insurance provider’s stock valued at $205,000 after acquiring an additional 27 shares during the period. Amalgamated Bank increased its position in Argo Group International by 1.4% in the 2nd quarter. Amalgamated Bank now owns 3,671 shares of the insurance provider’s stock valued at $222,000 after acquiring an additional 49 shares during the period. Cubist Systematic Strategies LLC acquired a new stake in Argo Group International in the 2nd quarter valued at approximately $271,000. Finally, BNP Paribas Arbitrage SA increased its position in Argo Group International by 210.6% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 4,569 shares of the insurance provider’s stock valued at $277,000 after acquiring an additional 3,098 shares during the period. 86.92% 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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