Price T Rowe Associates Inc. MD lifted its position in shares of Argo Group (NASDAQ:ARGO) by 5.6% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 24,063 shares of the company’s stock after buying an additional 1,269 shares during the quarter. Price T Rowe Associates Inc. MD owned approximately 0.07% of Argo Group worth $1,782,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently modified their holdings of ARGO. Meeder Asset Management Inc. grew its holdings in Argo Group by 95.7% in the second quarter. Meeder Asset Management Inc. now owns 362 shares of the company’s stock valued at $27,000 after purchasing an additional 177 shares during the period. Huntington National Bank purchased a new stake in Argo Group in the second quarter valued at approximately $36,000. Steward Partners Investment Advisory LLC purchased a new stake in Argo Group during the second quarter worth approximately $46,000. Manchester Financial Inc. purchased a new stake in Argo Group during the second quarter worth approximately $199,000. Finally, Convergence Investment Partners LLC purchased a new stake in Argo Group during the second quarter worth approximately $202,000.
Several equities research analysts have issued reports on ARGO shares. Boenning Scattergood reiterated a “buy” rating on shares of Argo Group in a research note on Tuesday, August 6th. Zacks Investment Research upgraded shares of Argo Group from a “sell” rating to a “hold” rating in a research note on Monday, August 12th. Three research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $73.24.
NASDAQ ARGO opened at $67.28 on Friday. The company’s fifty day simple moving average is $67.50 and its 200-day simple moving average is $71.02. Argo Group has a 52 week low of $58.42 and a 52 week high of $78.57.
Argo Group (NASDAQ:ARGO) last posted its earnings results on Monday, August 5th. The company reported $0.48 EPS for the quarter, topping analysts’ consensus estimates of $0.25 by $0.23. The firm had revenue of $476.60 million for the quarter, compared to analyst estimates of $478.43 million.
The company also recently announced a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Friday, August 30th were given a dividend of $0.31 per share. The ex-dividend date of this dividend was Thursday, August 29th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.84%.
In related news, CFO Jay Stanley Bullock sold 14,623 shares of the company’s stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $68.72, for a total value of $1,004,892.56. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.
Argo Group 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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