Argo Group (ARGO) Target Price Cut to $70.00 by Analysts at Raymond James

Argo Group (ARGO) Target Price Cut to $70.00 by Analysts at Raymond James

Argo Group (NASDAQ:ARGO) had its target price dropped by equities research analysts at Raymond James from $72.00 to $70.00 in a report issued on Friday, October 19th. The brokerage presently has a “strong-buy” rating on the stock. Raymond James’ price target suggests a potential upside of 14.30% from the company’s current price.

ARGO has been the topic of a number of other reports. Zacks Investment Research cut Argo Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 10th. Boenning Scattergood set a $72.00 target price on Argo Group and gave the stock an “outperform” rating in a research note on Tuesday, October 2nd. Finally, Keefe, Bruyette & Woods increased their price objective on Argo Group to $69.00 and gave the company an “outperform” rating in a research report on Tuesday, August 7th.

Shares of Argo Group stock traded down $0.46 during midday trading on Friday, reaching $61.24. 81,200 shares of the company’s stock traded hands, compared to its average volume of 117,830. Argo Group has a 12 month low of $50.53 and a 12 month high of $65.90.

Argo Group (NASDAQ:ARGO) last issued its quarterly earnings results on Monday, August 6th. The company reported $0.95 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.91 by $0.04. The firm had revenue of $452.80 million during the quarter, compared to analysts’ expectations of $459.45 million.

In other news, CFO Jay Stanley Bullock sold 12,323 shares of the firm’s stock in a transaction dated Friday, September 7th. The stock was sold at an average price of $63.43, for a total value of $781,647.89. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Kevin James Rehnberg sold 16,850 shares of the firm’s stock in a transaction dated Tuesday, August 14th. The stock was sold at an average price of $61.28, for a total value of $1,032,568.00. The disclosure for this sale can be found here. In the last three months, insiders sold 54,880 shares of company stock worth $3,439,177.

Large investors have recently added to or reduced their stakes in the stock. Dubuque Bank & Trust Co. purchased a new stake in shares of Argo Group during the second quarter worth about $212,000. Amalgamated Bank purchased a new position in shares of Argo Group in the 2nd quarter worth approximately $256,000. Boston Advisors LLC bought a new stake in shares of Argo Group during the 2nd quarter worth approximately $272,000. Diversified Trust Co bought a new stake in shares of Argo Group during the 2nd quarter worth approximately $313,000. Finally, First National Bank of Omaha bought a new stake in shares of Argo Group during the 2nd quarter worth approximately $1,328,000.

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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