Koch Industries Inc. cut its holdings in Assured Guaranty Ltd. (NYSE:AGO) by 68.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,276 shares of the financial services provider’s stock after selling 15,579 shares during the quarter. Koch Industries Inc.’s holdings in Assured Guaranty were worth $246,000 as of its most recent SEC filing.
Several other large investors have also added to or reduced their stakes in AGO. Pinebridge Investments L.P. bought a new position in Assured Guaranty in the 4th quarter worth about $185,000. Greenleaf Trust bought a new position in Assured Guaranty in the 4th quarter worth about $205,000. Unison Advisors LLC bought a new position in Assured Guaranty in the 4th quarter worth about $215,000. State of Alaska Department of Revenue bought a new position in Assured Guaranty in the 4th quarter worth about $237,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Assured Guaranty by 42.9% in the 4th 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 in the last quarter. 97.83% of the stock is currently owned by hedge funds and other institutional investors.
AGO traded down $0.22 during midday trading on Friday, hitting $37.24. 651,610 shares of the company traded hands, compared to its average volume of 969,771. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.50 and a current ratio of 0.50. The stock has a market capitalization of $4,318.33, a P/E ratio of 6.99 and a beta of 1.31. Assured Guaranty Ltd. has a 52 week low of $32.97 and a 52 week high of $45.73.
Assured Guaranty (NYSE:AGO) last posted its earnings results on Thursday, February 22nd. The financial services provider reported $0.77 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.71 by $0.06. The business had revenue of $283.00 million for the quarter, compared to analysts’ expectations 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 in the prior year, the business earned $1.05 EPS.
The business also recently announced a quarterly dividend, which was paid on Wednesday, March 21st. Shareholders of record on Wednesday, March 7th were paid a dividend of $0.16 per share. The ex-dividend date was Tuesday, March 6th. This represents a $0.64 annualized dividend and a yield of 1.72%. This is a boost from Assured Guaranty’s previous quarterly dividend of $0.14.
A number of equities analysts recently issued reports on AGO shares. BTIG Research reiterated a “buy” rating and issued a $50.00 price target on shares of Assured Guaranty in a research note on Tuesday, February 6th. ValuEngine cut shares of Assured Guaranty from a “strong-buy” rating to a “buy” rating in a research note on Friday, February 2nd. Finally, Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $47.00 price target on shares of Assured Guaranty in a research note on Wednesday, December 20th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $48.00.
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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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