Philadelphia Financial Management of San Francisco LLC raised its holdings in shares of Assured Guaranty Ltd. (NYSE:AGO) by 37.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,048,474 shares of the financial services provider’s stock after acquiring an additional 283,472 shares during the quarter. Assured Guaranty comprises approximately 5.2% of Philadelphia Financial Management of San Francisco LLC’s portfolio, making the stock its 2nd biggest holding. Philadelphia Financial Management of San Francisco LLC owned approximately 0.89% of Assured Guaranty worth $35,512,000 as of its most recent SEC filing.
A number of other hedge funds have also modified their holdings of AGO. Lingohr & Partner Asset Management GmbH increased its holdings in shares of Assured Guaranty by 4.4% in the fourth quarter. Lingohr & Partner Asset Management GmbH now owns 37,643 shares of the financial services provider’s stock worth $1,275,000 after purchasing an additional 1,600 shares during the period. AXA increased its holdings in shares of Assured Guaranty by 0.4% in the third quarter. AXA now owns 474,265 shares of the financial services provider’s stock worth $17,904,000 after purchasing an additional 1,700 shares during the period. Nordea Investment Management AB increased its holdings in shares of Assured Guaranty by 1.5% in the third quarter. Nordea Investment Management AB now owns 123,763 shares of the financial services provider’s stock worth $4,672,000 after purchasing an additional 1,822 shares during the period. Canada Pension Plan Investment Board increased its holdings in shares of Assured Guaranty by 7.8% in the third quarter. Canada Pension Plan Investment Board now owns 26,200 shares of the financial services provider’s stock worth $989,000 after purchasing an additional 1,900 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Assured Guaranty by 42.9% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,358 shares of the financial services provider’s stock worth $249,000 after purchasing an additional 2,208 shares during the period. 97.81% of the stock is currently owned by institutional investors and hedge funds.
AGO has been the topic of several research analyst reports. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $47.00 price target on shares of Assured Guaranty in a report on Wednesday, December 20th. ValuEngine lowered shares of Assured Guaranty from a “strong-buy” rating to a “buy” rating in a research report on Friday, February 2nd. Finally, BTIG Research reiterated a “buy” rating and issued a $50.00 target price on shares of Assured Guaranty in a research report on Tuesday, February 6th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. Assured Guaranty presently has an average rating of “Buy” and a consensus target price of $48.00.
Assured Guaranty (NYSE:AGO) last announced its earnings results on Thursday, February 22nd. The financial services provider reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.71 by $0.06. Assured Guaranty had a net margin of 41.98% and a return on equity of 9.76%. The company had revenue of $283.00 million during the quarter, compared to analyst estimates of $273.89 million. During the same period in the previous year, the business earned $1.05 earnings per share.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 21st. Investors of record on Wednesday, March 7th will be given a $0.16 dividend. The ex-dividend date is Tuesday, March 6th. This is a positive change from Assured Guaranty’s previous quarterly dividend of $0.14. This represents a $0.64 annualized dividend and a yield of 1.81%. Assured Guaranty’s payout ratio is 10.87%.
Assured Guaranty 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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