Argo Group (NASDAQ:ARGO) – Research analysts at Boenning Scattergood lowered their Q3 2019 EPS estimates for Argo Group in a report released on Tuesday, August 6th. Boenning Scattergood analyst R. Farnam now expects that the company will earn $0.86 per share for the quarter, down from their prior forecast of $0.97. Boenning Scattergood has a “Buy” rating on the stock. Boenning Scattergood also issued estimates for Argo Group’s Q4 2019 earnings at $0.98 EPS, Q1 2020 earnings at $1.17 EPS, Q2 2020 earnings at $1.12 EPS, Q3 2020 earnings at $1.05 EPS, Q4 2020 earnings at $1.16 EPS and FY2020 earnings at $4.50 EPS.
Other research analysts have also recently issued reports about the stock. William Blair cut shares of Argo Group from an “outperform” rating to a “market perform” rating and set a $74.12 target price for the company. in a report on Friday, April 26th. Zacks Investment Research cut shares of Argo Group from a “hold” rating to a “sell” rating in a report on Tuesday. One analyst has rated the stock with a sell rating, two have assigned a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $73.24.
Argo Group (NASDAQ:ARGO) last posted its quarterly earnings data on Monday, August 5th. The company reported $0.48 EPS for the quarter, topping the consensus estimate of $0.25 by $0.23. The business had revenue of $476.60 million for the quarter, compared to the consensus estimate of $478.43 million.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP purchased a new position in shares of Argo Group during the fourth quarter valued at approximately $190,291,000. Champlain Investment Partners LLC raised its holdings in shares of Argo Group by 1.8% during the first quarter. Champlain Investment Partners LLC now owns 1,580,413 shares of the company’s stock valued at $111,672,000 after purchasing an additional 27,850 shares during the last quarter. Frontier Capital Management Co. LLC raised its holdings in shares of Argo Group by 2.1% during the first quarter. Frontier Capital Management Co. LLC now owns 1,397,552 shares of the company’s stock valued at $98,751,000 after purchasing an additional 28,560 shares during the last quarter. Janus Henderson Group PLC raised its holdings in shares of Argo Group by 16.5% during the second quarter. Janus Henderson Group PLC now owns 1,050,105 shares of the company’s stock valued at $77,760,000 after purchasing an additional 148,719 shares during the last quarter. Finally, FMR LLC purchased a new position in shares of Argo Group during the fourth quarter valued at approximately $52,222,000.
In other Argo Group news, insider Kevin James Rehnberg sold 6,442 shares of Argo Group stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $71.08, for a total value of $457,897.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kathleen Nealon sold 1,210 shares of Argo Group stock in a transaction dated Monday, June 10th. The stock was 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.
About Argo Group
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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