Zacks: Brokerages Anticipate Argo Group International Holdings, Ltd. (AGII) Will Post Quarterly Sales of $454.10 Million

Wall Street analysts expect Argo Group International Holdings, Ltd. (NASDAQ:AGII) to post sales of $454.10 million for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for Argo Group International’s earnings. The lowest sales estimate is $453.30 million and the highest is $454.90 million. Argo Group International reported sales of $413.50 million in the same quarter last year, which would suggest a positive year over year growth rate of 9.8%. The company is scheduled to issue its next quarterly earnings report on Wednesday, May 2nd.

On average, analysts expect that Argo Group International will report full year sales of $454.10 million for the current year, with estimates ranging from $1.86 billion to $1.88 billion. For the next financial year, analysts anticipate that the business will report sales of $1.97 billion per share, with estimates ranging from $1.96 billion to $1.99 billion. Zacks’ sales calculations are an average based on a survey of research analysts that that provide coverage for Argo Group International.

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Argo Group International (NASDAQ:AGII) last released its quarterly earnings results on Tuesday, February 13th. The insurance provider reported ($0.66) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.51) by ($0.15). Argo Group International had a net margin of 2.84% and a negative return on equity of 0.80%. The business had revenue of $441.60 million for the quarter.

A number of research firms recently weighed in on AGII. BidaskClub raised Argo Group International from a “sell” rating to a “hold” rating in a report on Wednesday, March 21st. ValuEngine upgraded Argo Group International from a “sell” rating to a “hold” rating in a research report on Tuesday, March 13th. Zacks Investment Research upgraded Argo Group International from a “sell” rating to a “hold” rating in a research report on Friday, March 9th. Finally, Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $62.00 price objective on shares of Argo Group International in a research report on Friday, February 23rd.

In other Argo Group International news, Director John R. Power, Jr. sold 4,108 shares of the stock in a transaction on Monday, March 5th. The stock was sold at an average price of $61.09, for a total value of $250,957.72. Following the transaction, the director now directly owns 19,593 shares in the company, valued at approximately $1,196,936.37. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Mark E. Watson III sold 4,917 shares of the stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $59.40, for a total value of $292,069.80. Following the completion of the transaction, the chief executive officer now owns 543,056 shares in the company, valued at $32,257,526.40. The disclosure for this sale can be found here. Insiders sold a total of 36,544 shares of company stock worth $2,092,498 over the last quarter. Corporate insiders own 4.86% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Xact Kapitalforvaltning AB bought a new position in Argo Group International in the 4th quarter valued at $735,000. Sterling Capital Management LLC boosted its position in shares of Argo Group International by 44.1% in the 4th quarter. Sterling Capital Management LLC now owns 35,766 shares of the insurance provider’s stock worth $2,205,000 after purchasing an additional 10,942 shares during the last quarter. Dean Capital Management bought a new position in shares of Argo Group International in the 4th quarter worth $4,410,000. Millennium Management LLC boosted its position in shares of Argo Group International by 27.3% in the 4th quarter. Millennium Management LLC now owns 175,731 shares of the insurance provider’s stock worth $10,834,000 after purchasing an additional 37,698 shares during the last quarter. Finally, Hillcrest Asset Management LLC bought a new position in shares of Argo Group International in the 4th quarter worth $10,644,000. Hedge funds and other institutional investors own 79.58% of the company’s stock.

AGII stock opened at $57.40 on Friday. Argo Group International has a fifty-two week low of $49.69 and a fifty-two week high of $60.80. The firm has a market cap of $1,938.05, a P/E ratio of -136.67 and a beta of 0.77. The company has a quick ratio of 0.52, a current ratio of 0.52 and a debt-to-equity ratio of 0.22.

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 23rd. Shareholders of record on Wednesday, March 7th were given a $0.27 dividend. The ex-dividend date of this dividend was Tuesday, March 6th. This represents a $1.08 dividend on an annualized basis and a yield of 1.88%. Argo Group International’s payout ratio is -257.14%.

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About Argo Group International

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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Earnings History and Estimates for Argo Group International (NASDAQ:AGII)

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