FMR LLC trimmed its holdings in Assured Guaranty Ltd. (NYSE:AGO - Free Report) by 27.3% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 81,149 shares of the financial services provider's stock after selling 30,515 shares during the period. FMR LLC owned 0.15% of Assured Guaranty worth $6,453,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Gladius Capital Management LP acquired a new stake in shares of Assured Guaranty in the third quarter worth approximately $31,000. Assetmark Inc. raised its stake in Assured Guaranty by 66.6% during the third quarter. Assetmark Inc. now owns 493 shares of the financial services provider's stock worth $39,000 after purchasing an additional 197 shares during the period. Daiwa Securities Group Inc. acquired a new position in shares of Assured Guaranty in the 2nd quarter valued at $46,000. Farther Finance Advisors LLC boosted its holdings in shares of Assured Guaranty by 183.8% in the 3rd quarter. Farther Finance Advisors LLC now owns 596 shares of the financial services provider's stock valued at $47,000 after purchasing an additional 386 shares during the last quarter. Finally, Blue Trust Inc. grew its stake in shares of Assured Guaranty by 155.8% during the 3rd quarter. Blue Trust Inc. now owns 637 shares of the financial services provider's stock valued at $49,000 after buying an additional 388 shares during the period. Hedge funds and other institutional investors own 92.22% of the company's stock.
Insider Activity
In related news, Director Yukiko Omura sold 3,599 shares of the stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $79.73, for a total value of $286,948.27. Following the completion of the transaction, the director now owns 19,285 shares of the company's stock, valued at approximately $1,537,593.05. This represents a 15.73 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 5.10% of the company's stock.
Wall Street Analyst Weigh In
AGO has been the topic of a number of research analyst reports. StockNews.com upgraded Assured Guaranty from a "sell" rating to a "hold" rating in a report on Wednesday, November 13th. UBS Group lifted their price objective on Assured Guaranty from $87.00 to $95.00 and gave the company a "neutral" rating in a research note on Monday, November 18th. Finally, Keefe, Bruyette & Woods increased their target price on shares of Assured Guaranty from $92.00 to $105.00 and gave the stock an "outperform" rating in a research report on Monday, November 18th.
Get Our Latest Stock Analysis on Assured Guaranty
Assured Guaranty Stock Down 0.7 %
NYSE:AGO traded down $0.65 during mid-day trading on Friday, hitting $90.05. The company had a trading volume of 509,234 shares, compared to its average volume of 373,525. The business has a fifty day simple moving average of $87.81 and a 200-day simple moving average of $81.63. The firm has a market capitalization of $4.58 billion, a price-to-earnings ratio of 7.05 and a beta of 1.11. Assured Guaranty Ltd. has a 1 year low of $71.11 and a 1 year high of $96.60. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.29.
Assured Guaranty (NYSE:AGO - Get Free Report) last announced its earnings results on Monday, November 11th. The financial services provider reported $2.42 EPS for the quarter, beating the consensus estimate of $1.42 by $1.00. The business had revenue of $269.00 million for the quarter, compared to the consensus estimate of $202.57 million. Assured Guaranty had a return on equity of 11.58% and a net margin of 70.37%. The company's revenue was down 33.3% on a year-over-year basis. During the same period last year, the business posted $3.42 EPS. Equities analysts forecast that Assured Guaranty Ltd. will post 7.3 earnings per share for the current fiscal year.
Assured Guaranty Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Friday, December 6th. Stockholders of record on Friday, November 22nd were paid a $0.31 dividend. The ex-dividend date was Friday, November 22nd. This represents a $1.24 annualized dividend and a dividend yield of 1.38%. Assured Guaranty's dividend payout ratio (DPR) is presently 9.63%.
About Assured Guaranty
(
Free Report)
Assured Guaranty Ltd., together with its subsidiaries, provides credit protection products to public finance, infrastructure, and structured finance markets in the United States and internationally. It operates through two segments: Insurance and Asset Management. The company offers financial guaranty insurance that protects holders of debt instruments and other monetary obligations from defaults in scheduled payments.
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