Gabelli Funds LLC reduced its stake in Argo Group (NASDAQ:ARGO) by 7.1% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 101,400 shares of the company’s stock after selling 7,698 shares during the period. Gabelli Funds LLC owned 0.30% of Argo Group worth $7,509,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Huntington National Bank acquired a new stake in shares of Argo Group in the 2nd quarter valued at $36,000. Steward Partners Investment Advisory LLC bought a new stake in Argo Group in the second quarter valued at about $46,000. Riggs Asset Managment Co. Inc. bought a new stake in Argo Group in the first quarter valued at about $52,000. Quadrant Capital Group LLC bought a new stake in Argo Group in the first quarter valued at about $53,000. Finally, Nisa Investment Advisors LLC increased its stake in Argo Group by 69.0% in the first quarter. Nisa Investment Advisors LLC now owns 1,470 shares of the company’s stock valued at $104,000 after acquiring an additional 600 shares during the period.
Several analysts have recently commented on the stock. Zacks Investment Research raised shares of Argo Group from a “sell” rating to a “hold” rating in a research note on Monday, August 12th. Boenning Scattergood restated a “buy” rating on shares of Argo Group in a report on Tuesday, August 6th. Three analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. Argo Group currently has an average rating of “Buy” and a consensus price target of $73.24.
In other Argo Group news, CFO Jay Stanley Bullock sold 14,623 shares of the business’s stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $68.72, for a total transaction of $1,004,892.56. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.
Shares of ARGO opened at $68.28 on Friday. Argo Group has a one year low of $58.42 and a one year high of $78.57. The firm has a 50-day moving average of $67.08 and a 200-day moving average of $71.12.
Argo Group (NASDAQ:ARGO) last issued its earnings results on Monday, August 5th. The company reported $0.48 EPS for the quarter, beating the consensus estimate of $0.25 by $0.23. The firm had revenue of $476.60 million during the quarter, compared to analyst estimates of $478.43 million.
The business also recently declared a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Friday, August 30th were issued a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a dividend yield of 1.82%. The ex-dividend date was Thursday, August 29th.
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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