Gabelli Funds LLC Buys Shares of 112,282 Argo Group (ARGO)

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Gabelli Funds LLC bought a new stake in shares of Argo Group (NASDAQ:ARGO) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 112,282 shares of the company’s stock, valued at approximately $7,551,000. Gabelli Funds LLC owned about 0.33% of Argo Group at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the business. James Investment Research Inc. acquired a new stake in shares of Argo Group in the fourth quarter valued at approximately $46,000. Nisa Investment Advisors LLC acquired a new stake in shares of Argo Group in the fourth quarter valued at approximately $59,000. Quantamental Technologies LLC acquired a new stake in shares of Argo Group in the fourth quarter valued at approximately $124,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in shares of Argo Group in the fourth quarter valued at approximately $161,000. Finally, Virtu Financial LLC acquired a new stake in shares of Argo Group in the fourth quarter valued at approximately $263,000.

Several research firms recently commented on ARGO. Zacks Investment Research raised Argo Group from a “hold” rating to a “buy” rating and set a $75.00 price target for the company in a report on Monday, January 14th. Compass Point began coverage on Argo Group in a report on Tuesday, January 15th. They issued a “neutral” rating and a $70.00 price target for the company. Keefe, Bruyette & Woods cut Argo Group from an “outperform” rating to a “hold” rating in a report on Thursday, December 13th. Finally, Raymond James cut their price target on Argo Group from $72.00 to $70.00 and set a “strong-buy” rating for the company in a report on Friday, October 19th. Two investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $71.20.

In related news, Director F Sedgwick Browne sold 5,457 shares of the stock in a transaction that occurred on Wednesday, November 14th. The stock was sold at an average price of $66.34, for a total value of $362,017.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Jay Stanley Bullock sold 6,207 shares of the stock in a transaction that occurred on Tuesday, December 11th. The stock was sold at an average price of $69.09, for a total value of $428,841.63. The disclosure for this sale can be found here. Insiders sold 45,083 shares of company stock valued at $3,078,265 over the last quarter.

NASDAQ:ARGO opened at $67.52 on Wednesday. Argo Group has a one year low of $50.53 and a one year high of $70.00.

Argo Group (NASDAQ:ARGO) last issued its quarterly earnings data on Monday, November 5th. The company reported $0.68 earnings per share for the quarter, topping the consensus estimate of $0.49 by $0.19. The business had revenue of $484.70 million during the quarter, compared to analysts’ expectations of $462.83 million.

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

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