Wedge Capital Management L L P NC Increases Stock Holdings in Argo Group (NASDAQ:ARGO)

Wedge Capital Management L L P NC increased its holdings in shares of Argo Group (NASDAQ:ARGO) by 32.3% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 280,692 shares of the company’s stock after acquiring an additional 68,473 shares during the period. Wedge Capital Management L L P NC’s holdings in Argo Group were worth $18,455,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. Ladenburg Thalmann Financial Services Inc. increased its stake in shares of Argo Group by 93.7% in the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 990 shares of the company’s stock worth $73,000 after acquiring an additional 479 shares during the last quarter. Princeton Global Asset Management LLC acquired a new stake in shares of Argo Group in the 2nd quarter worth $108,000. Royal Bank of Canada increased its stake in shares of Argo Group by 232.5% in the 2nd quarter. Royal Bank of Canada now owns 2,324 shares of the company’s stock worth $172,000 after acquiring an additional 1,625 shares during the last quarter. MML Investors Services LLC acquired a new stake in shares of Argo Group in the 2nd quarter worth $237,000. Finally, A.R.T. Advisors LLC acquired a new stake in shares of Argo Group in the 2nd quarter worth $400,000.

Shares of Argo Group stock opened at $68.92 on Thursday. The business has a 50-day moving average of $66.17 and a 200 day moving average of $67.41. Argo Group has a 12 month low of $60.36 and a 12 month high of $78.57.

Argo Group (NASDAQ:ARGO) last announced its earnings results on Wednesday, November 6th. The company reported ($0.44) EPS for the quarter, missing analysts’ consensus estimates of ($0.36) by ($0.08). The company had revenue of $493.60 million during the quarter, compared to the consensus estimate of $483.37 million.

A number of analysts have issued reports on the company. Keefe, Bruyette & Woods reaffirmed a “buy” rating and issued a $74.00 target price on shares of Argo Group in a research note on Tuesday, December 24th. Zacks Investment Research upgraded Argo Group from a “strong sell” rating to a “hold” rating in a report on Wednesday, January 8th. TheStreet cut Argo Group from a “b-” rating to a “c” rating in a report on Wednesday, November 6th. Boenning Scattergood cut Argo Group from an “outperform” rating to a “neutral” rating in a report on Wednesday, October 30th. Finally, William Blair cut Argo Group from an “outperform” rating to a “market perform” rating in a report on Thursday, November 7th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Argo Group presently has an average rating of “Hold” and an average target price of $74.04.

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.

Further Reading: Asset Allocation, Balancing Your Investments

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Institutional Ownership by Quarter for Argo Group (NASDAQ:ARGO)

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