Argo Group (ARGO) Announces Earnings Results

Argo Group (NASDAQ:ARGO) announced its quarterly earnings data on Monday. The company reported $0.68 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.49 by $0.19, Morningstar.com reports. The business had revenue of $484.70 million during the quarter, compared to analysts’ expectations of $462.83 million.

Shares of NASDAQ:ARGO traded up $5.20 during trading on Wednesday, reaching $66.44. 123,139 shares of the stock traded hands, compared to its average volume of 117,855. Argo Group has a 52-week low of $50.53 and a 52-week high of $67.59.

ARGO has been the topic of a number of recent research reports. Boenning Scattergood set a $72.00 price objective on shares of Argo Group and gave the stock an “outperform” rating in a report on Tuesday, October 2nd. Raymond James cut their price objective on shares of Argo Group from $72.00 to $70.00 and set a “strong-buy” rating on the stock in a report on Friday, October 19th. Zacks Investment Research cut shares of Argo Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 10th. Finally, Keefe, Bruyette & Woods increased their price target on shares of Argo Group to $69.00 and gave the company an “outperform” rating in a report on Tuesday, August 7th.

In other news, CFO Jay Stanley Bullock sold 12,323 shares of the stock in a transaction that occurred on Friday, September 7th. The shares were sold at an average price of $63.43, for a total transaction of $781,647.89. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Thomas A. Bradley purchased 2,000 shares of the business’s stock in a transaction dated Tuesday, August 14th. The shares were purchased at an average price of $61.72 per share, for a total transaction of $123,440.00. The disclosure for this purchase can be found here. In the last quarter, insiders have sold 54,880 shares of company stock worth $3,439,177.

Several large investors have recently bought and sold shares of the company. Peregrine Capital Management LLC purchased a new stake in shares of Argo Group during the second quarter valued at approximately $31,536,000. Bank of Montreal Can purchased a new stake in shares of Argo Group during the second quarter valued at approximately $3,383,000. Crescent Grove Advisors LLC purchased a new stake in Argo Group in the second quarter worth approximately $1,606,000. Mycio Wealth Partners LLC purchased a new stake in Argo Group in the second quarter worth approximately $1,515,000. Finally, First National Bank of Omaha purchased a new stake in Argo Group in the second quarter worth approximately $1,328,000.

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About Argo Group

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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Earnings History for Argo Group (NASDAQ:ARGO)

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