Geode Capital Management LLC reduced its stake in Assured Guaranty Ltd. (NYSE:AGO) by 8.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,203,396 shares of the financial services provider’s stock after selling 108,091 shares during the period. Geode Capital Management LLC owned 1.02% of Assured Guaranty worth $40,758,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Pinebridge Investments L.P. bought a new stake in Assured Guaranty in the fourth quarter valued at $185,000. Greenleaf Trust bought a new stake in Assured Guaranty in the fourth quarter valued at $205,000. Unison Advisors LLC bought a new stake in Assured Guaranty in the fourth quarter valued at $215,000. State of Alaska Department of Revenue bought a new stake in Assured Guaranty in the fourth quarter valued at $237,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Assured Guaranty by 42.9% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,358 shares of the financial services provider’s stock valued at $249,000 after purchasing an additional 2,208 shares in the last quarter. 97.83% of the stock is owned by hedge funds and other institutional investors.
Shares of Assured Guaranty Ltd. (NYSE:AGO) opened at $35.20 on Tuesday. The company has a current ratio of 0.50, a quick ratio of 0.50 and a debt-to-equity ratio of 0.19. The company has a market cap of $4,096.99, a PE ratio of 6.63 and a beta of 1.40. 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 EPS for the quarter, topping the consensus estimate of $0.71 by $0.06. The company had revenue of $283.00 million during the quarter, compared to the consensus estimate of $273.89 million. Assured Guaranty had a net margin of 41.98% and a return on equity of 9.76%. During the same period in the previous year, the firm posted $1.05 earnings per share.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 21st. Stockholders of record on Wednesday, March 7th will be given a dividend of $0.16 per share. The ex-dividend date is Tuesday, March 6th. This is an increase from Assured Guaranty’s previous quarterly dividend of $0.14. This represents a $0.64 annualized dividend and a dividend yield of 1.82%. Assured Guaranty’s payout ratio is presently 10.87%.
Several equities research analysts have weighed in on AGO shares. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $47.00 price target on shares of Assured Guaranty in a research note on Wednesday, December 20th. ValuEngine downgraded shares of Assured Guaranty from a “strong-buy” rating to a “buy” rating in a research report on Friday, February 2nd. Finally, BTIG Research reissued a “buy” rating and set a $50.00 target price on shares of Assured Guaranty in a research report on Tuesday, February 6th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $48.00.
About Assured Guaranty
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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