Argo Group (ARGO) Stock Rating Lowered by Zacks Investment Research

Zacks Investment Research cut shares of Argo Group (NASDAQ:ARGO) from a hold rating to a sell rating in a research report report published on Monday, Zacks.com reports.

According to Zacks, “PXRE Group Ltd. provides reinsurance products and services to a worldwide marketplace. They primarily emphasize commercial and personal property and casualty reinsurance risks, and offer both broker-based and direct-writing distribution capabilities. PXRE also provides marine and aerospace reinsurance products and services. “

Separately, Compass Point upgraded Argo Group from a neutral rating to a buy rating and set a $68.10 price objective on the stock in a research report on Tuesday, March 19th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of Buy and a consensus target price of $70.82.

Shares of NASDAQ:ARGO opened at $73.40 on Monday. Argo Group has a 52-week low of $55.10 and a 52-week high of $74.36.

Argo Group (NASDAQ:ARGO) last issued its quarterly earnings data on Monday, February 11th. The company reported $0.55 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.06 by $0.49. The company had revenue of $483.60 million during the quarter, compared to analysts’ expectations of $468.50 million.

Several large investors have recently modified their holdings of the company. Dimensional Fund Advisors LP purchased a new stake in shares of Argo Group in the fourth quarter valued at $190,291,000. BlackRock Inc. purchased a new stake in shares of Argo Group in the fourth quarter valued at $161,071,000. Voce Capital Management LLC purchased a new stake in shares of Argo Group in the fourth quarter valued at $102,840,000. Frontier Capital Management Co. LLC purchased a new stake in shares of Argo Group in the fourth quarter valued at $92,065,000. Finally, Lord Abbett & CO. LLC purchased a new stake in shares of Argo Group in the fourth quarter valued at $74,341,000.

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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