Argo Group International Holdings, Ltd. (NASDAQ:AGII) Expected to Post Quarterly Sales of $412.90 Million

Analysts forecast that Argo Group International Holdings, Ltd. (NASDAQ:AGII) will announce $412.90 million in sales for the current quarter, Zacks reports. Two analysts have issued estimates for Argo Group International Holdings’ earnings, with estimates ranging from $408.20 million to $417.60 million. Argo Group International Holdings posted sales of $386.40 million in the same quarter last year, which suggests a positive year over year growth rate of 6.9%. The business is expected to announce its next earnings report on Tuesday, August 1st.

On average, analysts expect that Argo Group International Holdings will report full year sales of $412.90 million for the current financial year, with estimates ranging from $1.69 billion to $1.74 billion. For the next year, analysts forecast that the firm will report sales of $1.88 billion per share, with estimates ranging from $1.87 billion to $1.89 billion. Zacks’ sales averages are a mean average based on a survey of research firms that cover Argo Group International Holdings.

Argo Group International Holdings (NASDAQ:AGII) last issued its quarterly earnings results on Wednesday, May 3rd. The insurance provider reported $0.71 EPS for the quarter, topping analysts’ consensus estimates of $0.64 by $0.07. The business had revenue of $428.10 million during the quarter, compared to analysts’ expectations of $407.90 million. Argo Group International Holdings had a return on equity of 6.07% and a net margin of 9.53%. The business’s quarterly revenue was up 15.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.98 earnings per share.

AGII has been the subject of several analyst reports. Zacks Investment Research cut Argo Group International Holdings from a “strong-buy” rating to a “sell” rating in a report on Friday, April 21st. BidaskClub raised Argo Group International Holdings from a “strong sell” rating to a “sell” rating in a report on Friday, June 30th. Finally, Keefe, Bruyette & Woods reissued a “hold” rating and issued a $70.00 price objective on shares of Argo Group International Holdings in a report on Tuesday, July 4th.

In other news, CFO Jay Stanley Bullock sold 6,292 shares of the business’s stock in a transaction dated Thursday, June 15th. The stock was sold at an average price of $60.91, for a total value of $383,245.72. Following the completion of the transaction, the chief financial officer now owns 86,115 shares of the company’s stock, valued at approximately $5,245,264.65. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Kevin James Rehnberg sold 3,500 shares of the business’s stock in a transaction dated Monday, June 12th. The shares were sold at an average price of $61.00, for a total value of $213,500.00. Following the completion of the transaction, the insider now directly owns 33,193 shares of the company’s stock, valued at approximately $2,024,773. The disclosure for this sale can be found here. In the last three months, insiders sold 16,295 shares of company stock valued at $994,079. Insiders own 5.79% of the company’s stock.

Several institutional investors have recently modified their holdings of the stock. Peregrine Capital Management LLC boosted its position in shares of Argo Group International Holdings by 7.3% in the first quarter. Peregrine Capital Management LLC now owns 507,073 shares of the insurance provider’s stock valued at $33,315,000 after buying an additional 34,507 shares during the period. Russell Investments Group Ltd. raised its position in shares of Argo Group International Holdings by 5.1% in the first quarter. Russell Investments Group Ltd. now owns 140,800 shares of the insurance provider’s stock valued at $9,547,000 after buying an additional 6,774 shares in the last quarter. Karp Capital Management Corp acquired a new position in shares of Argo Group International Holdings during the first quarter valued at $391,000. US Bancorp DE raised its position in shares of Argo Group International Holdings by 3.5% in the first quarter. US Bancorp DE now owns 41,643 shares of the insurance provider’s stock valued at $2,823,000 after buying an additional 1,402 shares in the last quarter. Finally, FMR LLC raised its position in shares of Argo Group International Holdings by 28.4% in the fourth quarter. FMR LLC now owns 251,442 shares of the insurance provider’s stock valued at $16,570,000 after buying an additional 55,604 shares in the last quarter. 88.29% of the stock is owned by institutional investors and hedge funds.

Shares of Argo Group International Holdings (NASDAQ AGII) traded down 0.74% during mid-day trading on Friday, reaching $60.40. The company’s stock had a trading volume of 154,794 shares. The firm’s 50-day moving average price is $60.70 and its 200 day moving average price is $64.31. Argo Group International Holdings has a 12-month low of $51.33 and a 12-month high of $69.03. The firm has a market cap of $1.82 billion, a P/E ratio of 11.95 and a beta of 0.82.

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 26th. Stockholders of record on Monday, June 12th were issued a $0.27 dividend. The ex-dividend date was Thursday, June 8th. This represents a $1.08 annualized dividend and a dividend yield of 1.79%. Argo Group International Holdings’s dividend payout ratio (DPR) is presently 21.34%.

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Argo Group International Holdings Company Profile

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 Holdings (NASDAQ:AGII)

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