Daiwa Securities Group Inc. lessened its stake in Assured Guaranty Ltd. (NYSE:AGO) by 8.4% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 54,672 shares of the financial services provider’s stock after selling 4,985 shares during the quarter. Daiwa Securities Group Inc. owned 0.05% of Assured Guaranty worth $2,309,000 as of its most recent SEC filing.
Several other hedge funds also recently modified their holdings of AGO. Banco de Sabadell S.A increased its stake in shares of Assured Guaranty by 5.6% in the 2nd quarter. Banco de Sabadell S.A now owns 25,448 shares of the financial services provider’s stock valued at $910,000 after purchasing an additional 1,345 shares in the last quarter. Chartwell Investment Partners LLC increased its stake in shares of Assured Guaranty by 2.4% in the 2nd quarter. Chartwell Investment Partners LLC now owns 61,832 shares of the financial services provider’s stock valued at $2,209,000 after purchasing an additional 1,455 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of Assured Guaranty by 1.2% in the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 193,950 shares of the financial services provider’s stock valued at $6,930,000 after purchasing an additional 2,250 shares in the last quarter. Point View Wealth Management Inc. increased its stake in shares of Assured Guaranty by 37.9% in the 2nd quarter. Point View Wealth Management Inc. now owns 8,796 shares of the financial services provider’s stock valued at $314,000 after purchasing an additional 2,419 shares in the last quarter. Finally, United Services Automobile Association increased its stake in shares of Assured Guaranty by 11.9% in the 2nd quarter. United Services Automobile Association now owns 23,257 shares of the financial services provider’s stock valued at $831,000 after purchasing an additional 2,466 shares in the last quarter. 95.43% of the stock is owned by institutional investors and hedge funds.
In other Assured Guaranty news, Director Patrick W. Kenny sold 4,300 shares of the business’s stock in a transaction that occurred on Thursday, September 6th. The stock was sold at an average price of $41.21, for a total transaction of $177,203.00. Following the completion of the sale, the director now directly owns 59,468 shares in the company, valued at approximately $2,450,676.28. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Dominic Frederico sold 118,294 shares of the business’s stock in a transaction that occurred on Friday, August 31st. The stock was sold at an average price of $40.73, for a total value of $4,818,114.62. Following the sale, the chief executive officer now owns 1,180,680 shares of the company’s stock, valued at $48,089,096.40. The disclosure for this sale can be found here. In the last 90 days, insiders sold 380,734 shares of company stock valued at $15,571,121. 2.62% of the stock is owned by company insiders.
Shares of Assured Guaranty stock opened at $41.56 on Friday. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 0.19. Assured Guaranty Ltd. has a twelve month low of $32.97 and a twelve month high of $43.40. The stock has a market capitalization of $4.48 billion, a P/E ratio of 10.20 and a beta of 1.30.
Assured Guaranty (NYSE:AGO) last announced its quarterly earnings results on Thursday, November 8th. The financial services provider reported $1.47 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.72 by $0.75. Assured Guaranty had a return on equity of 7.02% and a net margin of 37.52%. The firm had revenue of $274.00 million during the quarter, compared to analyst estimates of $240.16 million. During the same quarter in the previous year, the business earned $1.29 EPS. Assured Guaranty’s revenue for the quarter was down 56.0% compared to the same quarter last year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 5th. Investors of record on Wednesday, November 21st will be paid a $0.16 dividend. The ex-dividend date of this dividend is Tuesday, November 20th. This represents a $0.64 annualized dividend and a dividend yield of 1.54%.
Several brokerages recently weighed in on AGO. ValuEngine upgraded Assured Guaranty from a “sell” rating to a “hold” rating in a research note on Tuesday, September 4th. Keefe, Bruyette & Woods restated a “buy” rating and issued a $48.00 price target on shares of Assured Guaranty in a research note on Friday, August 3rd.
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About Assured Guaranty
Assured Guaranty Ltd., through its subsidiaries, provides credit protection products to public finance, infrastructure, and structured finance markets in the United States and internationally. It offers financial guaranty insurance that protects holders of debt instruments and other monetary obligations from defaults in scheduled payments.
See Also: Cost of Capital
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