Zacks: Analysts Expect Argo Group International Holdings, Ltd. (AGII) to Announce $0.75 Earnings Per Share

Brokerages expect Argo Group International Holdings, Ltd. (NASDAQ:AGII) to post earnings of $0.75 per share for the current quarter, Zacks reports. Two analysts have provided estimates for Argo Group International’s earnings. The highest EPS estimate is $0.89 and the lowest is $0.60. Argo Group International reported earnings per share of $0.65 in the same quarter last year, which indicates a positive year over year growth rate of 15.4%. The firm is scheduled to issue its next quarterly earnings results on Monday, February 12th.

On average, analysts expect that Argo Group International will report full year earnings of $0.87 per share for the current financial year, with EPS estimates ranging from $0.70 to $1.04. For the next fiscal year, analysts forecast that the business will post earnings of $4.15 per share, with EPS estimates ranging from $3.90 to $4.40. Zacks’ EPS calculations are an average based on a survey of sell-side research analysts that follow Argo Group International.

Argo Group International (NASDAQ:AGII) last issued its earnings results on Thursday, November 2nd. The insurance provider reported ($1.91) EPS for the quarter, missing the Zacks’ consensus estimate of $0.99 by ($2.90). Argo Group International had a net margin of 3.15% and a return on equity of 1.36%. The company had revenue of $439.20 million during the quarter, compared to analyst estimates of $433.90 million. During the same quarter in the previous year, the firm earned $1.12 earnings per share. The business’s revenue was up 5.4% on a year-over-year basis.

Several equities analysts have recently issued reports on AGII shares. Zacks Investment Research downgraded Argo Group International from a “buy” rating to a “hold” rating in a research report on Monday, September 11th. Keefe, Bruyette & Woods upgraded Argo Group International from a “market perform” rating to an “outperform” rating and boosted their price objective for the stock from $67.00 to $71.00 in a research report on Thursday, December 28th.

In related news, Director F Sedgwick Browne sold 4,144 shares of the business’s stock in a transaction that occurred on Thursday, November 30th. The stock was sold at an average price of $61.24, for a total transaction of $253,778.56. Following the sale, the director now owns 23,169 shares of the company’s stock, valued at $1,418,869.56. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Jay Stanley Bullock sold 6,743 shares of the business’s stock in a transaction that occurred on Thursday, December 7th. The stock was sold at an average price of $60.97, for a total value of $411,120.71. Following the sale, the chief financial officer now directly owns 85,767 shares in the company, valued at approximately $5,229,213.99. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 17,524 shares of company stock valued at $1,067,061. Insiders own 4.86% of the company’s stock.

Large investors have recently made changes to their positions in the stock. Burgundy Asset Management Ltd. raised its holdings in Argo Group International by 2.4% during the second quarter. Burgundy Asset Management Ltd. now owns 133,579 shares of the insurance provider’s stock worth $8,095,000 after purchasing an additional 3,157 shares in the last quarter. Prudential Financial Inc. raised its holdings in Argo Group International by 33.7% during the second quarter. Prudential Financial Inc. now owns 232,518 shares of the insurance provider’s stock worth $14,091,000 after purchasing an additional 58,560 shares in the last quarter. Schwab Charles Investment Management Inc. raised its holdings in Argo Group International by 20.2% during the second quarter. Schwab Charles Investment Management Inc. now owns 217,413 shares of the insurance provider’s stock worth $13,176,000 after purchasing an additional 36,539 shares in the last quarter. Citadel Advisors LLC raised its holdings in Argo Group International by 18.2% during the third quarter. Citadel Advisors LLC now owns 166,610 shares of the insurance provider’s stock worth $10,247,000 after purchasing an additional 25,668 shares in the last quarter. Finally, IndexIQ Advisors LLC raised its holdings in Argo Group International by 83.4% during the third quarter. IndexIQ Advisors LLC now owns 12,786 shares of the insurance provider’s stock worth $786,000 after purchasing an additional 5,814 shares in the last quarter. 86.92% of the stock is currently owned by hedge funds and other institutional investors.

Argo Group International (NASDAQ AGII) opened at $60.60 on Thursday. The company has a current ratio of 0.52, a quick ratio of 0.52 and a debt-to-equity ratio of 0.22. The stock has a market capitalization of $1,801.63, a P/E ratio of 35.65 and a beta of 0.82. Argo Group International has a 52-week low of $56.15 and a 52-week high of $69.03.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 15th. Stockholders of record on Friday, December 1st were given a dividend of $0.27 per share. The ex-dividend date was Thursday, November 30th. This represents a $1.08 annualized dividend and a dividend yield of 1.78%. Argo Group International’s dividend payout ratio is presently 63.53%.

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Argo Group International 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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