Why Has Piper Jaffray Given Argo Group International Holdings (NASDAQ:AGII) a $74.00 Price Target
Research analysts at Piper Jaffray began coverage on Argo Group International Holdings (NASDAQ:AGII) with a key Overweight rating. The price target for AGII has been stated as $74.00. It may mean a possible upside of 20.19% from company’s stock close price.
Approximately 39,902 shares of stock traded hands. Argo Group International Holdings, Ltd. (NASDAQ:AGII) has risen 22.30% since May 7, 2015 and is uptrending. It has outperformed by 24.23% the S&P500.
The overall sentiment of institutions has increased to 1.11 in Q2 2015. Its up 0.18, from 0.93 in 2015Q2. The ratio is positive, as 10 institutions have sold all the shares of Argo Group International Holdings, Ltd. that they owned while 63 funds have taken shares off the table. 24 funds have purchased shares for the first time while 57 added to their positions. These institutions now hold 33.80 million shares or 37.22% more than the 24.63 million shares they owned in 2015Q2.
The Fund Torchmark Corp currently is holding shares equating to 5.63% of its total portfolio in Argo Group International Holdings, Ltd. representing a total of 12,778 shares. Another fund,Grace & White Inc Ny, is holding a total of 187,871 shares equating to 2.45% of their holdings. Additionally, Champlain Investment Partners Llc has a 1.21 million share stake in Argo Group International Holdings, Ltd. which represents 1.2% of their total portfolio. The Fund, Fiduciary Management Associates Llc, based out of Illinois, has also built up a stake in the stock, which represents a total of 1.05% of their total portfolio. Finally Arbor Capital Management Llc, a fund which is based in the state of Minnesota reported a total holdings of 82,696 shares.
Argo Group International Holdings, Ltd. is an underwriter of specialty insurance and reinsurance products in the property and casualty market. The company has a market cap of $1.73 billion. The Firm operates through four divisions: Excess and Surplus Lines , Commercial Specialty, International Specialty and Syndicate 1200. It has 9.75 P/E ratio. Excess and Surplus Lines segment carriers focus on risks that the standard (admitted) market is unwilling or unable to underwrite.
According to Zacks Investment Research, “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.” Get a free copy of the Zacks research report on Argo Group International Holdings, Ltd. (AGII).