Lingohr & Partner Asset Management GmbH cut its holdings in Assured Guaranty Ltd. (NYSE:AGO) by 7.4% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 36,043 shares of the financial services provider’s stock after selling 2,900 shares during the period. Lingohr & Partner Asset Management GmbH’s holdings in Assured Guaranty were worth $1,325,000 at the end of the most recent reporting period.
Other institutional investors have also bought and sold shares of the company. Tower Research Capital LLC TRC lifted its position in shares of Assured Guaranty by 962.5% in the 2nd quarter. Tower Research Capital LLC TRC now owns 4,250 shares of the financial services provider’s stock worth $177,000 after purchasing an additional 3,850 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Assured Guaranty by 11.7% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,150 shares of the financial services provider’s stock worth $215,000 after acquiring an additional 539 shares in the last quarter. Quantum Capital Management acquired a new position in Assured Guaranty during the 2nd quarter worth approximately $218,000. FineMark National Bank & Trust purchased a new stake in shares of Assured Guaranty during the 3rd quarter worth approximately $259,000. Finally, Zweig DiMenna Associates LLC acquired a new position in shares of Assured Guaranty during the 2nd quarter worth $288,000. Hedge funds and other institutional investors own 97.36% of the company’s stock.
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Assured Guaranty Ltd. (AGO) traded up $0.48 on Tuesday, reaching $37.07. The company had a trading volume of 1,139,000 shares, compared to its average volume of 932,857. Assured Guaranty Ltd. has a 12-month low of $34.67 and a 12-month high of $45.73. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 0.19. The firm has a market cap of $4,350.00, a price-to-earnings ratio of 6.49 and a beta of 1.66.
Assured Guaranty (NYSE:AGO) last issued its quarterly earnings results on Thursday, November 2nd. The financial services provider reported $1.29 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.78 by $0.51. Assured Guaranty had a return on equity of 10.59% and a net margin of 45.38%. The company had revenue of $623.00 million for the quarter, compared to the consensus estimate of $262.09 million. During the same period in the previous year, the business posted $3.74 EPS. The company’s revenue for the quarter was up 10.1% on a year-over-year basis.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 29th. Shareholders of record on Wednesday, November 15th will be given a $0.142 dividend. This represents a $0.57 dividend on an annualized basis and a yield of 1.53%. The ex-dividend date is Tuesday, November 14th. Assured Guaranty’s dividend payout ratio (DPR) is 8.19%.
Assured Guaranty declared that its board has approved a share repurchase program on Thursday, November 2nd that allows the company to repurchase $300.00 million in outstanding shares. This repurchase authorization allows the financial services provider to buy shares of its stock through open market purchases. Shares repurchase programs are usually an indication that the company’s board believes its shares are undervalued.
A number of research firms have recently weighed in on AGO. BidaskClub downgraded shares of Assured Guaranty from a “buy” rating to a “hold” rating in a research report on Monday, July 31st. MKM Partners restated a “buy” rating on shares of Assured Guaranty in a research note on Thursday, October 5th. Finally, UBS AG reaffirmed a “buy” rating and set a $47.00 target price (down from $49.00) on shares of Assured Guaranty in a report on Wednesday, October 4th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $47.00.
Assured Guaranty Company 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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