The $428.05 Million in Sales Expected for Argo Group International Holdings, Ltd. (AGII) This Quarter

The $428.05 Million in Sales Expected for Argo Group International Holdings, Ltd. (AGII) This Quarter

Brokerages expect Argo Group International Holdings, Ltd. (NASDAQ:AGII) to announce sales of $428.05 million for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for Argo Group International Holdings’ earnings, with the lowest sales estimate coming in at $423.50 million and the highest estimate coming in at $432.60 million. Argo Group International Holdings posted sales of $399.00 million in the same quarter last year, which would indicate a positive year over year growth rate of 7.3%. The company is expected to issue its next quarterly earnings report on Tuesday, November 7th.

According to Zacks, analysts expect that Argo Group International Holdings will report full-year sales of $428.05 million for the current fiscal year. For the next fiscal year, analysts forecast that the firm will report sales of $1.85 billion per share, with estimates ranging from $1.83 billion to $1.87 billion. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that cover Argo Group International Holdings.

Argo Group International Holdings (NASDAQ:AGII) last posted its quarterly earnings data on Monday, August 7th. The insurance provider reported $1.31 earnings per share for the quarter, topping the consensus estimate of $1.06 by $0.25. Argo Group International Holdings had a net margin of 10.04% and a return on equity of 6.39%. The firm had revenue of $447.10 million during the quarter, compared to analysts’ expectations of $412.90 million. During the same quarter in the previous year, the company posted $1.20 EPS. Argo Group International Holdings’s revenue was up 15.2% on a year-over-year basis.

Several equities analysts have recently issued reports on the stock. Zacks Investment Research downgraded shares of Argo Group International Holdings from a “buy” rating to a “hold” rating in a research note on Monday, September 11th. BidaskClub raised shares of Argo Group International Holdings from a “strong sell” rating to a “sell” rating in a research note on Saturday, August 19th. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $70.00 price target on shares of Argo Group International Holdings in a research note on Tuesday, July 4th.

Argo Group International Holdings (AGII) remained flat at $63.90 on Wednesday. The company had a trading volume of 117,867 shares. Argo Group International Holdings has a 52 week low of $54.40 and a 52 week high of $69.03. The stock has a market cap of $1.93 billion, a P/E ratio of 11.55 and a beta of 0.80. The stock’s 50-day moving average is $61.61 and its 200-day moving average is $61.78.

In related news, insider Mark E. Watson III sold 22,246 shares of Argo Group International Holdings stock in a transaction on Friday, August 25th. The shares were sold at an average price of $60.19, for a total transaction of $1,338,986.74. Following the completion of the transaction, the insider now owns 593,661 shares of the company’s stock, valued at $35,732,455.59. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 4.86% of the stock is owned by company insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Dubuque Bank & Trust Co. bought a new position in Argo Group International Holdings during the second quarter worth $176,000. Quantbot Technologies LP bought a new position in Argo Group International Holdings during the second quarter worth $195,000. Neuberger Berman Group LLC raised its stake in Argo Group International Holdings by 0.8% during the second quarter. Neuberger Berman Group LLC now owns 3,383 shares of the insurance provider’s stock worth $205,000 after buying an additional 27 shares during the last quarter. Amalgamated Bank raised its stake in Argo Group International Holdings by 1.4% during the second quarter. Amalgamated Bank now owns 3,671 shares of the insurance provider’s stock worth $222,000 after buying an additional 49 shares during the last quarter. Finally, Diversified Trust Co raised its stake in Argo Group International Holdings by 1.4% during the second quarter. Diversified Trust Co now owns 3,750 shares of the insurance provider’s stock worth $227,000 after buying an additional 50 shares during the last quarter. 86.21% of the stock is owned by institutional investors and hedge funds.

About Argo Group International Holdings

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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