Analysts Set Argo Group (NASDAQ:ARGO) PT at $71.56

Argo Group (NASDAQ:ARGO) has received a consensus rating of “Buy” from the six analysts that are currently covering the company, Marketbeat reports. Two research analysts have rated the stock with a hold recommendation, three have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $74.04.

Several brokerages have recently weighed in on ARGO. Zacks Investment Research upgraded General Moly from a “sell” rating to a “hold” rating in a report on Thursday. William Blair downgraded WABCO from an “outperform” rating to a “market perform” rating in a report on Friday, April 26th. Boenning Scattergood reiterated a “buy” rating and issued a $74.00 price objective on shares of Argo Group in a report on Tuesday, April 30th. Finally, Compass Point upgraded Argo Group from a “neutral” rating to a “buy” rating and set a $68.10 price objective for the company in a report on Tuesday, March 19th.

Shares of NASDAQ:ARGO opened at $74.43 on Tuesday. Argo Group has a 1-year low of $58.42 and a 1-year high of $78.57. The firm’s fifty day moving average is $73.37.

Argo Group (NASDAQ:ARGO) last issued its quarterly earnings results on Monday, April 29th. The company reported $1.18 earnings per share for the quarter, beating the consensus estimate of $0.88 by $0.30. The company had revenue of $456.70 million for the quarter, compared to the consensus estimate of $488.65 million.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 21st. Investors of record on Friday, June 7th were issued a $0.31 dividend. The ex-dividend date of this dividend was Thursday, June 6th. This represents a $1.24 annualized dividend and a yield of 1.67%.

In related news, Director Kathleen Nealon sold 1,210 shares of Argo Group stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $73.10, for a total value of $88,451.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Kevin James Rehnberg sold 6,442 shares of Argo Group stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $71.08, for a total value of $457,897.36. The disclosure for this sale can be found here.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ARGO. Riggs Asset Managment Co. Inc. purchased a new position in Argo Group in the first quarter worth about $52,000. Quadrant Capital Group LLC purchased a new position in Argo Group in the first quarter worth about $53,000. Nisa Investment Advisors LLC boosted its position in Argo Group by 69.0% in the first quarter. Nisa Investment Advisors LLC now owns 1,470 shares of the company’s stock worth $104,000 after purchasing an additional 600 shares during the last quarter. PNC Financial Services Group Inc. purchased a new position in Argo Group in the fourth quarter worth about $133,000. Finally, SG Americas Securities LLC purchased a new position in Argo Group in the first quarter worth about $159,000.

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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Analyst Recommendations for Argo Group (NASDAQ:ARGO)

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