Argo Group International Holdings, Ltd. (NASDAQ:AGII) announced a quarterly dividend on Monday, June 5th, Wall Street Journal reports. Investors of record on Monday, June 12th will be paid a dividend of 0.27 per share by the insurance provider on Monday, June 26th. This represents a $1.08 dividend on an annualized basis and a yield of 1.80%. The ex-dividend date is Thursday, June 8th.
Shares of Argo Group International Holdings (NASDAQ AGII) traded down 0.50% during midday trading on Tuesday, reaching $59.80. 20,279 shares of the company were exchanged. The firm has a market capitalization of $1.81 billion, a P/E ratio of 11.83 and a beta of 0.82. The firm has a 50-day moving average of $62.80 and a 200 day moving average of $65.06. Argo Group International Holdings has a 52 week low of $49.10 and a 52 week high of $69.03.
Argo Group International Holdings (NASDAQ:AGII) last issued its earnings results on Wednesday, May 3rd. The insurance provider reported $0.71 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.64 by $0.07. Argo Group International Holdings had a return on equity of 6.07% and a net margin of 9.53%. The business had revenue of $428.10 million during the quarter, compared to analysts’ expectations of $407.90 million. During the same quarter in the previous year, the business earned $0.98 EPS. The company’s revenue for the quarter was up 15.7% on a year-over-year basis. On average, equities research analysts expect that Argo Group International Holdings will post $3.88 EPS for the current year.
A number of analysts have recently issued reports on the company. Keefe, Bruyette & Woods set a $70.00 target price on Argo Group International Holdings and gave the stock a “hold” rating in a report on Thursday, April 6th. Zacks Investment Research upgraded Argo Group International Holdings from a “strong sell” rating to a “hold” rating in a report on Tuesday, May 9th.
In related news, CFO Jay Stanley Bullock sold 6,292 shares of the business’s stock in a transaction that occurred on Thursday, June 15th. The stock was sold at an average price of $60.91, for a total transaction of $383,245.72. Following the transaction, the chief financial officer now directly owns 86,115 shares of the company’s stock, valued at approximately $5,245,264.65. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Kevin James Rehnberg sold 3,500 shares of the business’s stock in a transaction that occurred on Monday, June 12th. The stock was 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 $2,024,773. The disclosure for this sale can be found here. Insiders have sold a total of 16,295 shares of company stock worth $994,079 over the last three months. 5.79% of the stock is currently owned by corporate insiders.
A hedge fund recently raised its stake in Argo Group International Holdings stock. Renaissance Technologies LLC raised its position in shares of Argo Group International Holdings, Ltd. (NASDAQ:AGII) by 147.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 18,040 shares of the insurance provider’s stock after buying an additional 10,757 shares during the period. Renaissance Technologies LLC’s holdings in Argo Group International Holdings were worth $1,223,000 at the end of the most recent quarter. Institutional investors own 88.26% of the company’s stock.
About Argo Group International Holdings
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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