Westwood Holdings Group Inc. Makes New Investment in Argo Group (NASDAQ:ARGO)

Westwood Holdings Group Inc. bought a new position in Argo Group (NASDAQ:ARGO) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 415,113 shares of the company’s stock, valued at approximately $30,739,000. Westwood Holdings Group Inc. owned about 1.21% of Argo Group at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Geode Capital Management LLC acquired a new position in shares of Argo Group during the 4th quarter worth $23,386,000. Janus Henderson Group PLC increased its position in Argo Group by 16.5% during the second quarter. Janus Henderson Group PLC now owns 1,050,105 shares of the company’s stock worth $77,760,000 after buying an additional 148,719 shares during the last quarter. Renaissance Technologies LLC increased its position in Argo Group by 1,344.4% during the second quarter. Renaissance Technologies LLC now owns 95,765 shares of the company’s stock worth $7,091,000 after buying an additional 89,135 shares during the last quarter. Russell Investments Group Ltd. increased its position in Argo Group by 145.1% during the second quarter. Russell Investments Group Ltd. now owns 119,632 shares of the company’s stock worth $8,857,000 after buying an additional 70,825 shares during the last quarter. Finally, Hillcrest Asset Management LLC increased its holdings in shares of Argo Group by 36.0% during the 1st quarter. Hillcrest Asset Management LLC now owns 253,122 shares of the company’s stock valued at $17,886,000 after acquiring an additional 67,023 shares during the last quarter.

A number of research analysts have recently commented on ARGO shares. Zacks Investment Research raised Argo Group from a “sell” rating to a “hold” rating in a report on Monday, August 12th. Boenning Scattergood reissued a “buy” rating on shares of Argo Group in a report on Tuesday, August 6th. Three research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $73.24.

NASDAQ:ARGO traded up $0.21 during midday trading on Friday, reaching $68.12. The stock had a trading volume of 231,877 shares, compared to its average volume of 127,088. Argo Group has a 1-year low of $58.42 and a 1-year high of $78.57. The firm’s fifty day simple moving average is $66.95 and its 200-day simple moving average is $71.06.

Argo Group (NASDAQ:ARGO) last posted its earnings results on Monday, August 5th. The company reported $0.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.25 by $0.23. The firm had revenue of $476.60 million during the quarter, compared to analyst estimates of $478.43 million.

The firm also recently declared a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Friday, August 30th were given a $0.31 dividend. This represents a $1.24 annualized dividend and a dividend yield of 1.82%. The ex-dividend date of this dividend was Thursday, August 29th.

In other news, CFO Jay Stanley Bullock sold 14,623 shares of the firm’s stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $68.72, for a total value of $1,004,892.56. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

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

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