Share Name Share Symbol Market Type Share ISIN Share Description
Argo Group Limited LSE:ARGO London Ordinary Share IM00B2RDSS92 ORD USD0.01
  Price Change % Change Share Price Shares Traded Last Trade
  0.00 0.0% 18.50 0.00 08:00:00
Bid Price Offer Price High Price Low Price Open Price
17.00 20.00 18.50 18.50 18.50
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
General Financial 3.70 0.78 1.51 11.8 11
Last Trade Time Trade Type Trade Size Trade Price Currency
- O 0 18.50 GBX

Argo (ARGO) Latest News

More Argo News
Argo Takeover Rumours

Argo (ARGO) Discussions and Chat

Argo Forums and Chat

Date Time Title Posts
02/7/202020:11argo - a new start?268

Add a New Thread

Argo (ARGO) Most Recent Trades

No Trades
Trade Time Trade Price Trade Size Trade Value Trade Type
View all Argo trades in real-time

Argo (ARGO) Top Chat Posts

Argo Daily Update: Argo Group Limited is listed in the General Financial sector of the London Stock Exchange with ticker ARGO. The last closing price for Argo was 18.50p.
Argo Group Limited has a 4 week average price of 18.50p and a 12 week average price of 17.50p.
The 1 year high share price is 26p while the 1 year low share price is currently 15p.
There are currently 61,023,494 shares in issue and the average daily traded volume is 75,000 shares. The market capitalisation of Argo Group Limited is £11,289,346.39.
stemis: Interesting development. I think the most important part of it though is the statement "As an additional benefit from the Loan, AGL will possibly benefit from a better recovery on the outstanding EUR 8 m of unpaid fees due from AREOF. Currently, these fees due to AGL are carried at zero value. The Company believes the recovery of outstanding fees is greatly enhanced by the EBRD refinancing and the offered return is attractive compared to other alternatives." As at the last interims the provision against all amounts outstanding from AREOF was $11.8m. Recovery of those amounts would add 23.3p a share to NAV, taking it to 66.6p. Current share price is 24.5p...
stemis: NAV per share = 56.3c (46.2p). If they do manage to recover mgt fees full provided for (which they claim to be confident of) that becomes 87.2c (71.4p). Share price 21p???
stemis: Well, there they are. The Directors are not declaring a final dividend but intend to restart dividend payments as soon as the Group's performance provides a consistent track record of profitability. They could, of course, have paid a special dividend of $1.75m which would have been 2.7p a share. After all, as holders of 52% of the shares the Rialas brothers would have got half. But instead they decided they'd have it all and paid it to themselves as bonuses. Clearly they struggled to get by on last years $800k. This is a company with a market cap of $11m. Under normal circumstances a company with net assets of $25m (including $5m of cash) valued at $11m could be considered very undervalued. But tnat's before the Rialas brothers discount.... I hold. One day something is going to happen here...
stemis: At 16p around 58% of market cap is covered by cash. Another 48% is covered by net (of creditors) receivables. That leaves ARGO's investment in it's own funds of 22.5p per share literally in for free. It's a reflection of the market's suspicion of the Rialas brothers than the share price isn't double the current level.
hugepants: These look like very good results. Market cap is only £7.5M, compares with $24M of net liquid assets. Key highlights for the six months period ended 30 June 2017 This report sets out the results of Argo Group Limited (the "Company") and its subsidiaries (collectively "the Group" or "Argo") covering the six months ended 30 June 2017. - Revenues US$6.3 million (six months to 30 June 2016: US$4.0 million) - Operating profit US$3.3 million (six months to 30 June 2016: profit US$3.8 million) - Profit before tax US$5.1 million (six months to 30 June 2016: profit US$4.9 million) - Net assets US$24.8 million (31 December 2016: US$20.1 million) Commenting on the results and outlook, Kyriakos Rialas, Chief Executive Officer of Argo said: "The results of AGL's first six months are a reflection of strong subscriptions and performance in the emerging markets. Investors continue to seek yield in a consistently low global interest rate regime despite recent tapering noise from ECB and interest rate increases by the FED. AGL's results include a significant element of performance fees from the workout of one of the distressed assets. Continuous investor interest in the Argo Fund is expected to materialize into more sizeable subscriptions in the second half of the year. "
hugepants: Looks like more buying back at under 10p. However they are buying off market so not pushing the share price up.
stemis: Well NAV turned out slightly better than I expected (23.1p v 21.5p). ARGO appears to be a fund manager with it's share price strongly backed by NAV. If they can buy back £2m of shares at 9.5p (which seems extremely unlikely) that would increase to 29.3p. In reality however many of the funds are unable to pay their management fees or manage their liquidity and therefore ARGO has turned into part investment fund with much of it's assets 'invested' in or loaned, directly or indirectly, to it's own funds to keep them going. There's probably no more than 3.3p a share clean of that (which would just about all be used up in a share buy back). If they can sort these out the share price should easily double from here. Driving up AUM would certainly be a good start...
stemis: Selling. Their holding has obviously fallen below the notifiable level. Today's release is obviously good news although the market remains less than excited about the share. We should see release of part of the bad debt provision ($1,300 = 1.3p per share) although that's offset by unquantified, but relatively small, losses in the fund (which we have share in) from selling below NAV. The share price seems to have gone up to reflect that. Proforma cash will be about $6.3m or 6.1p a share.
b3842517: I've been monitoring this since being tempted at 14p last year, but thankfully I held off investing at that point. I have also been stung by EMG, so am wary of diving in too early while the share price is still falling, but the underlying figures make it look extremely cheap, especially with the high divi yield.
stemis: Price dropped by 0.75p even though dividend is 1.3p. Adding back dividend gives a comparable share price of about 15p.
Argo share price data is direct from the London Stock Exchange
ADVFN Advertorial
Your Recent History
Register now to watch these stocks streaming on the ADVFN Monitor.

Monitor lets you view up to 110 of your favourite stocks at once and is completely free to use.

By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions

P: V: D:20200926 19:18:15