Argo Group International Holdings, Ltd. (NYSE:ARGO – Get Rating) was the recipient of a significant decline in short interest in the month of March. As of March 31st, there was short interest totalling 355,600 shares, a decline of 19.2% from the March 15th total of 440,100 shares. Based on an average trading volume of 282,800 shares, the days-to-cover ratio is presently 1.3 days. Currently, 1.0% of the company’s shares are sold short.
Several institutional investors and hedge funds have recently modified their holdings of the company. BlackRock Inc. lifted its position in Argo Group International by 2.6% in the 4th quarter. BlackRock Inc. now owns 2,256,440 shares of the company’s stock valued at $131,121,000 after acquiring an additional 56,764 shares in the last quarter. Champlain Investment Partners LLC lifted its position in Argo Group International by 0.3% in the 4th quarter. Champlain Investment Partners LLC now owns 2,167,260 shares of the company’s stock valued at $125,939,000 after acquiring an additional 6,112 shares in the last quarter. Frontier Capital Management Co. LLC lifted its position in Argo Group International by 2.6% in the 4th quarter. Frontier Capital Management Co. LLC now owns 1,486,692 shares of the company’s stock valued at $86,392,000 after acquiring an additional 37,442 shares in the last quarter. Westwood Holdings Group Inc. lifted its position in Argo Group International by 33.7% in the 4th quarter. Westwood Holdings Group Inc. now owns 1,181,128 shares of the company’s stock valued at $68,635,000 after acquiring an additional 297,961 shares in the last quarter. Finally, William Blair Investment Management LLC lifted its position in Argo Group International by 47,946.8% in the 3rd quarter. William Blair Investment Management LLC now owns 946,521 shares of the company’s stock valued at $49,427,000 after acquiring an additional 944,551 shares in the last quarter. 89.02% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities analysts have issued reports on the stock. Zacks Investment Research upgraded shares of Argo Group International from a “hold” rating to a “buy” rating and set a $46.00 price objective on the stock in a research report on Tuesday, April 12th. Compass Point upgraded Argo Group International from a “neutral” rating to a “buy” rating in a report on Wednesday, February 23rd. TheStreet downgraded Argo Group International from a “b-” rating to a “c” rating in a report on Thursday, February 17th. Finally, Raymond James downgraded Argo Group International from a “strong-buy” rating to an “outperform” rating and reduced their target price for the stock from $70.00 to $60.00 in a report on Wednesday, February 9th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $41.38.
Argo Group International (NYSE:ARGO – Get Rating) last issued its quarterly earnings results on Monday, February 21st. The company reported ($1.77) EPS for the quarter, missing analysts’ consensus estimates of $0.96 by ($2.73). Argo Group International had a return on equity of 5.40% and a net margin of 4.95%. During the same period in the prior year, the firm earned ($0.52) earnings per share. Research analysts forecast that Argo Group International will post 3.92 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, March 15th. Stockholders of record on Monday, February 28th were given a $0.31 dividend. The ex-dividend date of this dividend was Friday, February 25th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 3.04%. Argo Group International’s dividend payout ratio is currently 46.10%.
Argo Group International Company Profile (Get Rating)
Argo Group International Holdings, Ltd. underwrites specialty insurance and reinsurance products in the property and casualty markets. The company operates in two segments, U.S. Operations and International Operations. It offers primary and excess specialty casualty, general liability, commercial multi-peril, and workers compensation, as well as product, environmental, and auto liability insurance products; management liability, transaction liability, and errors and omissions liability insurance; primary and excess property, inland marine, and auto physical damage insurance; and surety, animal mortality, and ocean marine insurance products.
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