Boenning Scattergood Reiterates $72.00 Price Target for Argo Group (ARGO)

Boenning Scattergood set a $72.00 price objective on Argo Group (NASDAQ:ARGO) in a research report report published on Tuesday. The brokerage currently has a buy rating on the stock. Boenning Scattergood also issued estimates for Argo Group’s Q4 2018 earnings at $0.52 EPS, FY2018 earnings at $3.20 EPS, Q1 2019 earnings at $1.02 EPS, Q2 2019 earnings at $1.09 EPS, Q3 2019 earnings at $0.91 EPS and Q4 2019 earnings at $1.09 EPS.

Other research analysts have also issued reports about the company. Zacks Investment Research lowered Argo Group from a strong-buy rating to a hold rating in a research report on Tuesday, July 10th. Keefe, Bruyette & Woods raised their target price on Argo Group to $69.00 and gave the stock an outperform rating in a research report on Tuesday, August 7th. Finally, Raymond James lowered their target price on Argo Group from $72.00 to $70.00 and set a strong-buy rating for the company in a research report on Friday, October 19th.

NASDAQ:ARGO traded down $2.98 during trading hours on Tuesday, hitting $66.69. 89,548 shares of the company were exchanged, compared to its average volume of 117,459. Argo Group has a one year low of $50.53 and a one year high of $69.77.

Argo Group (NASDAQ:ARGO) last announced its earnings results on Monday, November 5th. The company reported $0.68 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.49 by $0.19. The company had revenue of $484.70 million for the quarter, compared to the consensus estimate of $462.83 million.

In other Argo Group news, Director Thomas A. Bradley acquired 2,000 shares of the stock in a transaction dated Tuesday, August 14th. The stock was purchased at an average cost of $61.72 per share, with a total value of $123,440.00. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, insider Kevin James Rehnberg sold 16,850 shares of Argo Group stock in a transaction dated Tuesday, August 14th. The stock was sold at an average price of $61.28, for a total value of $1,032,568.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 64,190 shares of company stock valued at $4,064,250.

A number of institutional investors have recently modified their holdings of ARGO. Dubuque Bank & Trust Co. bought a new stake in Argo Group in the 2nd quarter valued at about $212,000. Amalgamated Bank bought a new stake in Argo Group in the 2nd quarter valued at about $256,000. Boston Advisors LLC bought a new stake in Argo Group in the 2nd quarter valued at about $272,000. Diversified Trust Co bought a new stake in Argo Group in the 2nd quarter valued at about $313,000. Finally, First National Bank of Omaha bought a new stake in Argo Group in the 2nd quarter valued at about $1,328,000.

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.

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