Shares of Argo Group (NASDAQ:ARGO) have received a consensus rating of “Buy” from the six brokerages that are presently covering the company, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. The average 1 year target price among brokers that have covered the stock in the last year is $74.64.
Several equities research analysts recently commented on the stock. Zacks Investment Research upgraded shares of Argo Group from a “hold” rating to a “buy” rating and set a $87.00 price target for the company in a research report on Thursday, May 2nd. Boenning Scattergood restated a “buy” rating and issued a $74.00 price target on shares of Argo Group in a research report on Tuesday, April 30th. William Blair downgraded shares of Argo Group from an “outperform” rating to a “market perform” rating and set a $74.12 price target for the company. in a research report on Friday, April 26th. Finally, Compass Point upgraded shares of Argo Group from a “neutral” rating to a “buy” rating and set a $68.10 price target for the company in a research report on Tuesday, March 19th.
In other Argo Group news, insider Kevin James Rehnberg sold 6,442 shares of the company’s stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $71.08, for a total value of $457,897.36. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Kathleen Nealon sold 1,210 shares of the company’s stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $73.10, for a total transaction of $88,451.00. The disclosure for this sale can be found here.
A number of institutional investors have recently added to or reduced their stakes in the business. Marshall Wace LLP acquired a new position in Argo Group in the 1st quarter valued at approximately $992,000. RMB Capital Management LLC increased its stake in shares of Argo Group by 29.3% during the 1st quarter. RMB Capital Management LLC now owns 60,595 shares of the company’s stock worth $4,282,000 after purchasing an additional 13,729 shares during the last quarter. Man Group plc increased its stake in shares of Argo Group by 54.1% during the 1st quarter. Man Group plc now owns 64,550 shares of the company’s stock worth $4,561,000 after purchasing an additional 22,650 shares during the last quarter. Macquarie Group Ltd. increased its stake in shares of Argo Group by 1.1% during the 1st quarter. Macquarie Group Ltd. now owns 44,648 shares of the company’s stock worth $3,155,000 after purchasing an additional 476 shares during the last quarter. Finally, SEI Investments Co increased its stake in shares of Argo Group by 31.9% during the 1st quarter. SEI Investments Co now owns 48,166 shares of the company’s stock worth $3,403,000 after purchasing an additional 11,657 shares during the last quarter.
ARGO stock traded up $0.58 on Friday, hitting $75.26. 148,040 shares of the company’s stock traded hands, compared to its average volume of 130,071. Argo Group has a 1-year low of $57.75 and a 1-year high of $78.57.
Argo Group (NASDAQ:ARGO) last issued its quarterly earnings results on Monday, April 29th. The company reported $1.18 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.88 by $0.30. The firm had revenue of $456.70 million during the quarter, compared to analysts’ expectations of $488.65 million.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 21st. Shareholders of record on Friday, June 7th will be paid a $0.31 dividend. The ex-dividend date is Thursday, June 6th. This represents a $1.24 annualized dividend and a yield of 1.65%.
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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