Brandywine Global Investment Management LLC lowered its holdings in shares of Assured Guaranty Ltd. (NYSE:AGO) by 33.1% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 319,326 shares of the financial services provider’s stock after selling 157,912 shares during the period. Brandywine Global Investment Management LLC owned about 0.27% of Assured Guaranty worth $10,816,000 as of its most recent filing with the SEC.
Other hedge funds have also added to or reduced their stakes in the company. Pinebridge Investments L.P. bought a new position in shares of Assured Guaranty during the 4th quarter valued at $185,000. Greenleaf Trust bought a new position in shares of Assured Guaranty during the 4th quarter valued at $205,000. Unison Advisors LLC bought a new position in shares of Assured Guaranty during the 4th quarter valued at $215,000. State of Alaska Department of Revenue bought a new position in shares of Assured Guaranty during the 4th quarter valued at $237,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Assured Guaranty by 42.9% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,358 shares of the financial services provider’s stock valued at $249,000 after purchasing an additional 2,208 shares during the last quarter. 97.81% of the stock is currently owned by institutional investors.
Several research firms recently commented on AGO. ValuEngine lowered shares of Assured Guaranty from a “strong-buy” rating to a “buy” rating in a report on Friday, February 2nd. BTIG Research reaffirmed a “buy” rating and set a $50.00 target price on shares of Assured Guaranty in a report on Tuesday, February 6th. Finally, Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $47.00 target price on shares of Assured Guaranty in a report on Wednesday, December 20th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $48.00.
Assured Guaranty (NYSE:AGO) last announced its quarterly earnings results on Thursday, February 22nd. The financial services provider reported $0.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.71 by $0.06. The business had revenue of $283.00 million for the quarter, compared to analyst estimates of $273.89 million. Assured Guaranty had a net margin of 41.98% and a return on equity of 9.76%. During the same quarter last year, the firm earned $1.05 EPS.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 21st. Shareholders of record on Wednesday, March 7th will be issued a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 1.80%. The ex-dividend date is Tuesday, March 6th. This is a positive change from Assured Guaranty’s previous quarterly dividend of $0.14. Assured Guaranty’s dividend payout ratio (DPR) is 10.87%.
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Assured Guaranty Company Profile
Assured Guaranty Ltd. is a holding company. The Company, through its subsidiaries, provides credit protection products to the United States and international public finance, including infrastructure, and structured finance markets. It applies its credit underwriting judgment, risk management skills and capital markets experience primarily to offer financial guaranty insurance that protects holders of debt instruments and other monetary obligations from defaults in scheduled payments.
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