Argo Group (NASDAQ:ARGO) Receives Average Rating of “Hold” from Brokerages

Shares of Argo Group (NASDAQ:ARGO) have been assigned a consensus recommendation of “Hold” from the five brokerages that are presently covering the stock, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $71.11.

Several brokerages have recently commented on ARGO. Zacks Investment Research upgraded Argo Group from a “sell” rating to a “hold” rating in a research note on Monday, August 12th. Boenning Scattergood restated a “buy” rating on shares of Argo Group in a research note on Tuesday, August 6th.

In related news, CFO Jay Stanley Bullock sold 14,623 shares of the business’s stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $68.72, for a total value of $1,004,892.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Strs Ohio boosted its stake in Argo Group by 283.9% during the third quarter. Strs Ohio now owns 59,500 shares of the company’s stock valued at $4,179,000 after buying an additional 44,000 shares during the period. Diversified Trust Co lifted its stake in shares of Argo Group by 2.6% in the 3rd quarter. Diversified Trust Co now owns 5,875 shares of the company’s stock worth $413,000 after acquiring an additional 150 shares during the period. Macquarie Group Ltd. lifted its stake in shares of Argo Group by 3.9% in the 2nd quarter. Macquarie Group Ltd. now owns 46,392 shares of the company’s stock worth $3,436,000 after acquiring an additional 1,744 shares during the period. Princeton Global Asset Management LLC acquired a new stake in shares of Argo Group in the 2nd quarter worth $108,000. Finally, Boston Partners acquired a new stake in shares of Argo Group in the 2nd quarter worth $1,876,000.

NASDAQ ARGO traded down $0.53 on Thursday, hitting $69.12. 1,851 shares of the company were exchanged, compared to its average volume of 123,742. The company’s 50 day moving average price is $68.02 and its 200-day moving average price is $70.90. Argo Group has a twelve month low of $59.28 and a twelve month high of $78.57.

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

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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