Argo Group (NASDAQ:AGII) CEO Mark E. Watson III sold 17,853 shares of the stock in a transaction dated Friday, May 11th. The stock was sold at an average price of $61.83, for a total value of $1,103,850.99. Following the sale, the chief executive officer now directly owns 886,173 shares in the company, valued at $54,792,076.59. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.
Shares of AGII opened at $58.85 on Monday. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.52 and a quick ratio of 0.52. The firm has a market capitalization of $1.99 billion, a P/E ratio of -140.12 and a beta of 0.62. Argo Group has a 1-year low of $49.69 and a 1-year high of $60.15.
A number of hedge funds and other institutional investors have recently bought and sold shares of AGII. Delpha Capital Management LLC acquired a new position in Argo Group in the fourth quarter valued at $183,000. Dorsey & Whitney Trust CO LLC acquired a new position in shares of Argo Group during the first quarter worth about $203,000. Ramsey Quantitative Systems acquired a new position in shares of Argo Group during the fourth quarter worth about $294,000. QS Investors LLC increased its stake in shares of Argo Group by 110.7% during the fourth quarter. QS Investors LLC now owns 5,150 shares of the insurance provider’s stock worth $317,000 after acquiring an additional 2,706 shares during the period. Finally, Public Employees Retirement Association of Colorado increased its stake in shares of Argo Group by 15.0% during the first quarter. Public Employees Retirement Association of Colorado now owns 7,953 shares of the insurance provider’s stock worth $457,000 after acquiring an additional 1,037 shares during the period. Institutional investors own 80.67% of the company’s stock.
AGII has been the topic of a number of research reports. Keefe, Bruyette & Woods reaffirmed a “buy” rating and issued a $62.00 price target on shares of Argo Group in a research note on Friday, February 23rd. BidaskClub lowered shares of Argo Group from a “hold” rating to a “sell” rating in a research note on Friday, February 23rd. ValuEngine downgraded shares of Argo Group from a “hold” rating to a “sell” rating in a report on Tuesday, February 13th. Finally, Zacks Investment Research downgraded shares of Argo Group from a “hold” rating to a “strong sell” rating in a report on Tuesday, April 17th.
Argo Group Company Profile
Argo Group International Holdings, Ltd. underwrites specialty insurance and reinsurance products in the property and casualty markets. The company operates in two segments, U.S. Operations and International Operations. The U.S. Operations segment underwrites primary and excess specialty casualty, and commercial multi-peril, as well as contract, product, environmental, and auto liability products; and workers compensation, general, management, errors and omissions, and public entity liability risks.
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