Weiss Asset Management LP reduced its position in shares of Assured Guaranty Ltd. (NYSE:AGO) by 5.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,271 shares of the financial services provider’s stock after selling 492 shares during the period. Weiss Asset Management LP’s holdings in Assured Guaranty were worth $367,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently modified their holdings of AGO. Norges Bank purchased a new position in Assured Guaranty in the 4th quarter worth about $58,425,000. Robeco Institutional Asset Management B.V. increased its stake in Assured Guaranty by 113.2% in the 1st quarter. Robeco Institutional Asset Management B.V. now owns 2,120,713 shares of the financial services provider’s stock worth $94,223,000 after purchasing an additional 1,126,218 shares in the last quarter. Aurelius Capital Management LP purchased a new position in Assured Guaranty in the 4th quarter worth about $39,272,000. APG Asset Management N.V. increased its stake in Assured Guaranty by 398.2% in the 4th quarter. APG Asset Management N.V. now owns 1,079,997 shares of the financial services provider’s stock worth $36,165,000 after purchasing an additional 863,197 shares in the last quarter. Finally, Northern Trust Corp increased its stake in Assured Guaranty by 84.9% in the 4th quarter. Northern Trust Corp now owns 1,419,569 shares of the financial services provider’s stock worth $54,341,000 after purchasing an additional 651,982 shares in the last quarter. 96.15% of the stock is currently owned by hedge funds and other institutional investors.
Separately, MKM Partners lifted their price target on Assured Guaranty to $65.00 and gave the stock a “buy” rating in a research note on Friday, May 10th.
Shares of AGO opened at $42.72 on Monday. The stock has a market capitalization of $4.34 billion, a P/E ratio of 11.18 and a beta of 1.12. Assured Guaranty Ltd. has a 1-year low of $34.93 and a 1-year high of $47.97. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.51 and a current ratio of 0.51.
Assured Guaranty (NYSE:AGO) last issued its quarterly earnings results on Thursday, May 9th. The financial services provider reported $0.82 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.75 by $0.07. The firm had revenue of $234.00 million for the quarter, compared to analysts’ expectations of $228.29 million. Assured Guaranty had a return on equity of 6.25% and a net margin of 41.81%. Assured Guaranty’s revenue was down 20.1% on a year-over-year basis. During the same quarter last year, the business posted $1.33 EPS.
The business also recently declared a quarterly dividend, which was paid on Wednesday, June 5th. Investors of record on Wednesday, May 22nd were paid a $0.18 dividend. The ex-dividend date of this dividend was Tuesday, May 21st. This represents a $0.72 dividend on an annualized basis and a yield of 1.69%.
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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.
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