Kahn Brothers Group Inc. DE lifted its holdings in Assured Guaranty Ltd. (NYSE:AGO) by 0.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,571,674 shares of the financial services provider’s stock after purchasing an additional 5,224 shares during the period. Assured Guaranty comprises about 8.8% of Kahn Brothers Group Inc. DE’s portfolio, making the stock its 3rd largest holding. Kahn Brothers Group Inc. DE owned 1.59% of Assured Guaranty worth $69,877,000 at the end of the most recent quarter.
Several other institutional investors have also made changes to their positions in AGO. Nuveen Asset Management LLC purchased a new stake in Assured Guaranty during the 2nd quarter worth approximately $25,428,000. APG Asset Management N.V. grew its position in shares of Assured Guaranty by 27.2% in the second quarter. APG Asset Management N.V. now owns 2,489,097 shares of the financial services provider’s stock valued at $91,975,000 after purchasing an additional 532,400 shares in the last quarter. Robeco Institutional Asset Management B.V. grew its position in shares of Assured Guaranty by 23.5% in the second quarter. Robeco Institutional Asset Management B.V. now owns 2,618,852 shares of the financial services provider’s stock valued at $110,197,000 after purchasing an additional 498,139 shares in the last quarter. AQR Capital Management LLC grew its position in shares of Assured Guaranty by 9.3% in the second quarter. AQR Capital Management LLC now owns 3,766,918 shares of the financial services provider’s stock valued at $158,173,000 after purchasing an additional 321,954 shares in the last quarter. Finally, Balyasny Asset Management LLC grew its position in shares of Assured Guaranty by 377.2% in the second quarter. Balyasny Asset Management LLC now owns 296,642 shares of the financial services provider’s stock valued at $12,483,000 after purchasing an additional 234,477 shares in the last quarter. Hedge funds and other institutional investors own 97.77% of the company’s stock.
In related news, insider Howard Albert sold 14,058 shares of the company’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $44.27, for a total value of $622,347.66. Following the transaction, the insider now directly owns 191,143 shares in the company, valued at $8,461,900.61. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CIO Andrew T. Feldstein acquired 12,238 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The stock was acquired at an average price of $48.25 per share, for a total transaction of $590,483.50. Following the completion of the acquisition, the executive now directly owns 280,241 shares of the company’s stock, valued at approximately $13,521,628.25. The disclosure for this purchase can be found here. Over the last quarter, insiders purchased 185,611 shares of company stock worth $8,557,931 and sold 50,986 shares worth $2,245,712. Corporate insiders own 2.81% of the company’s stock.
A number of equities research analysts have recently issued reports on AGO shares. BTIG Research restated a “buy” rating and issued a $52.00 price target on shares of Assured Guaranty in a research report on Sunday, August 11th. UBS Group upped their price target on Assured Guaranty from $47.00 to $50.00 and gave the company a “buy” rating in a research report on Monday, August 19th. Finally, ValuEngine lowered Assured Guaranty from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st.
Shares of AGO stock traded down $0.37 during trading hours on Friday, reaching $48.23. The company had a trading volume of 876,183 shares, compared to its average volume of 497,214. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.65 and a current ratio of 0.65. The stock has a fifty day moving average of $45.87 and a 200-day moving average of $44.27. The company has a market capitalization of $4.71 billion, a price-to-earnings ratio of 10.51 and a beta of 1.02. Assured Guaranty Ltd. has a 12-month low of $36.13 and a 12-month high of $48.64.
Assured Guaranty (NYSE:AGO) last released its quarterly earnings data on Thursday, November 7th. The financial services provider reported $0.79 EPS for the quarter, beating analysts’ consensus estimates of $0.76 by $0.03. Assured Guaranty had a return on equity of 7.24% and a net margin of 46.89%. The firm had revenue of $206.00 million for the quarter, compared to analysts’ expectations of $212.55 million. During the same period in the prior year, the firm posted $1.47 earnings per share. The firm’s quarterly revenue was down 25.1% on a year-over-year basis.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 4th. Investors of record on Wednesday, November 20th will be issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 1.49%. The ex-dividend date is Tuesday, November 19th.
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.
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