Eagle Asset Management Inc. Buys New Stake in Argo Group International Holdings, Ltd. (AGII)

Eagle Asset Management Inc. bought a new position in shares of Argo Group International Holdings, Ltd. (NASDAQ:AGII) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 57,411 shares of the insurance provider’s stock, valued at approximately $3,479,000. Eagle Asset Management Inc. owned about 0.19% of Argo Group International Holdings at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the business. Neuberger Berman Group LLC grew its position in Argo Group International Holdings by 0.8% during the 2nd quarter. Neuberger Berman Group LLC now owns 3,383 shares of the insurance provider’s stock worth $205,000 after purchasing an additional 27 shares during the last quarter. Diversified Trust Co grew its position in Argo Group International Holdings by 1.4% during the 2nd quarter. Diversified Trust Co now owns 3,750 shares of the insurance provider’s stock worth $227,000 after purchasing an additional 50 shares during the last quarter. Wealthsource Partners LLC grew its position in Argo Group International Holdings by 1.9% during the 1st quarter. Wealthsource Partners LLC now owns 5,300 shares of the insurance provider’s stock worth $359,000 after purchasing an additional 100 shares during the last quarter. Sei Investments Co. grew its position in Argo Group International Holdings by 0.9% during the 1st quarter. Sei Investments Co. now owns 19,104 shares of the insurance provider’s stock worth $1,296,000 after purchasing an additional 179 shares during the last quarter. Finally, 1st Global Advisors Inc. grew its position in Argo Group International Holdings by 2.2% during the 1st quarter. 1st Global Advisors Inc. now owns 10,548 shares of the insurance provider’s stock worth $715,000 after purchasing an additional 225 shares during the last quarter. 87.51% of the stock is currently owned by institutional investors.

Shares of Argo Group International Holdings, Ltd. (NASDAQ AGII) opened at 57.55 on Friday. Argo Group International Holdings, Ltd. has a 12-month low of $54.40 and a 12-month high of $69.03. The stock has a 50 day moving average of $59.78 and a 200 day moving average of $62.99. The stock has a market capitalization of $1.73 billion, a P/E ratio of 10.40 and a beta of 0.82.

Argo Group International Holdings (NASDAQ:AGII) last announced its earnings results on Monday, August 7th. The insurance provider reported $1.31 EPS for the quarter, beating analysts’ consensus estimates of $1.06 by $0.25. The business had revenue of $447.10 million for the quarter, compared to analysts’ expectations of $412.90 million. Argo Group International Holdings had a net margin of 10.04% and a return on equity of 6.39%. The company’s quarterly revenue was up 15.2% on a year-over-year basis. During the same period in the previous year, the company posted $1.20 EPS. Equities research analysts anticipate that Argo Group International Holdings, Ltd. will post $3.94 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Friday, September 1st will be given a $0.27 dividend. The ex-dividend date of this dividend is Wednesday, August 30th. This represents a $1.08 dividend on an annualized basis and a yield of 1.88%. Argo Group International Holdings’s dividend payout ratio (DPR) is 19.49%.

Several research firms have weighed in on AGII. Zacks Investment Research raised shares of Argo Group International Holdings from a “hold” rating to a “buy” rating and set a $66.00 target price on the stock in a research report on Friday, August 11th. Keefe, Bruyette & Woods reissued a “hold” rating and set a $70.00 target price on shares of Argo Group International Holdings in a research report on Tuesday, July 4th. Finally, BidaskClub downgraded shares of Argo Group International Holdings from a “sell” rating to a “strong sell” rating in a research report on Tuesday, July 25th.

In related news, insider Kevin James Rehnberg sold 3,500 shares of Argo Group International Holdings stock in a transaction on Monday, June 12th. The shares were sold at an average price of $61.00, for a total value of $213,500.00. Following the transaction, the insider now directly owns 33,193 shares in the company, valued at approximately $2,024,773. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Mark E. Watson III sold 6,503 shares of Argo Group International Holdings stock in a transaction on Wednesday, June 14th. The shares were sold at an average price of $61.10, for a total transaction of $397,333.30. Following the completion of the transaction, the insider now owns 534,272 shares in the company, valued at $32,644,019.20. The disclosure for this sale can be found here. Over the last quarter, insiders sold 38,541 shares of company stock worth $2,333,066. 4.86% of the stock is currently owned by insiders.

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Argo Group International Holdings Company Profile

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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Institutional Ownership by Quarter for Argo Group International Holdings (NASDAQ:AGII)

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