Argo Group (NASDAQ:ARGO) Rating Lowered to C at TheStreet

TheStreet downgraded shares of Argo Group (NASDAQ:ARGO) from a b- rating to a c rating in a research note issued to investors on Wednesday, TheStreetRatingsTable reports.

ARGO has been the topic of several other reports. Zacks Investment Research cut Argo Group from a hold rating to a sell rating in a research report on Wednesday, October 23rd. Boenning Scattergood cut Argo Group from an outperform rating to a neutral rating in a research report on Wednesday, October 30th. Finally, William Blair cut Argo Group from an outperform rating to a market perform rating in a research report on Thursday. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the stock. The stock presently has an average rating of Hold and a consensus price target of $74.06.

Shares of ARGO stock opened at $62.86 on Wednesday. Argo Group has a 1-year low of $60.36 and a 1-year high of $78.57. The business’s fifty day moving average price is $67.21 and its 200 day moving average price is $70.26.

Argo Group (NASDAQ:ARGO) last issued its quarterly earnings results on Wednesday, November 6th. The company reported ($0.44) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.36) by ($0.08). The firm had revenue of $493.60 million during the quarter, compared to the consensus estimate of $483.37 million.

In other news, CFO Jay Stanley Bullock sold 14,623 shares of Argo Group stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $68.72, for a total transaction of $1,004,892.56. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Several institutional investors and hedge funds have recently added to or reduced their stakes in ARGO. Meeder Asset Management Inc. increased its stake in Argo Group by 95.7% during the second quarter. Meeder Asset Management Inc. now owns 362 shares of the company’s stock valued at $27,000 after acquiring an additional 177 shares during the period. Huntington National Bank purchased a new stake in Argo Group in the 2nd quarter worth approximately $36,000. Steward Partners Investment Advisory LLC purchased a new stake in Argo Group in the 2nd quarter worth approximately $46,000. Ladenburg Thalmann Financial Services Inc. boosted its position in Argo Group by 93.7% in the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 990 shares of the company’s stock worth $73,000 after purchasing an additional 479 shares in the last quarter. Finally, Princeton Global Asset Management LLC purchased a new stake in Argo Group in the 2nd quarter worth approximately $108,000.

Argo Group Company Profile

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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