Argo Group International Holdings, Ltd. (AGII) Shares Bought by Millennium Management LLC

Millennium Management LLC increased its position in shares of Argo Group International Holdings, Ltd. (NASDAQ:AGII) by 27.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 175,731 shares of the insurance provider’s stock after acquiring an additional 37,698 shares during the period. Millennium Management LLC’s holdings in Argo Group International were worth $10,834,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in AGII. Janus Henderson Group PLC acquired a new position in Argo Group International during the third quarter worth about $15,531,000. Thrivent Financial For Lutherans grew its holdings in Argo Group International by 189.2% during the fourth quarter. Thrivent Financial For Lutherans now owns 307,556 shares of the insurance provider’s stock worth $18,961,000 after acquiring an additional 201,200 shares during the period. Hillcrest Asset Management LLC acquired a new position in Argo Group International during the fourth quarter worth about $10,644,000. Dean Investment Associates LLC acquired a new position in Argo Group International during the fourth quarter worth about $6,109,000. Finally, Cortina Asset Management LLC grew its holdings in Argo Group International by 24.0% during the fourth quarter. Cortina Asset Management LLC now owns 300,443 shares of the insurance provider’s stock worth $18,522,000 after acquiring an additional 58,092 shares during the period. 79.58% of the stock is currently owned by hedge funds and other institutional investors.

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In related news, CEO Mark E. Watson III sold 8,800 shares of Argo Group International stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $59.74, for a total value of $525,712.00. Following the transaction, the chief executive officer now owns 543,056 shares of the company’s stock, valued at approximately $32,442,165.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John R. Power, Jr. sold 4,108 shares of Argo Group International stock in a transaction dated Monday, March 5th. The stock was sold at an average price of $61.09, for a total value of $250,957.72. Following the completion of the transaction, the director now directly owns 19,593 shares in the company, valued at approximately $1,196,936.37. The disclosure for this sale can be found here. Insiders sold a total of 36,544 shares of company stock worth $2,092,498 in the last three months. 4.86% of the stock is currently owned by company insiders.

A number of research analysts recently issued reports on the company. Zacks Investment Research raised Argo Group International from a “strong sell” rating to a “hold” rating in a report on Tuesday, December 19th. BidaskClub raised Argo Group International from a “sell” rating to a “hold” rating in a report on Tuesday, January 16th. Keefe, Bruyette & Woods raised Argo Group International from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $67.00 to $71.00 in a report on Thursday, December 28th. Finally, ValuEngine cut Argo Group International from a “hold” rating to a “sell” rating in a research note on Tuesday, February 13th.

Shares of AGII opened at $57.10 on Friday. Argo Group International Holdings, Ltd. has a 1-year low of $49.69 and a 1-year high of $60.80. The company has a quick ratio of 0.52, a current ratio of 0.52 and a debt-to-equity ratio of 0.22.

Argo Group International (NASDAQ:AGII) last issued its quarterly earnings results on Tuesday, February 13th. The insurance provider reported ($0.66) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.51) by ($0.15). The company had revenue of $441.60 million during the quarter. Argo Group International had a negative return on equity of 0.80% and a net margin of 2.84%. sell-side analysts anticipate that Argo Group International Holdings, Ltd. will post 3.47 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Friday, March 23rd. Investors of record on Wednesday, March 7th were paid a $0.27 dividend. The ex-dividend date was Tuesday, March 6th. This represents a $1.08 dividend on an annualized basis and a yield of 1.89%. Argo Group International’s dividend payout ratio is currently -257.14%.

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About Argo Group International

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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Institutional Ownership by Quarter for Argo Group International (NASDAQ:AGII)

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