Assured Guaranty Ltd. (AGO) Shares Sold by Alyeska Investment Group L.P.
Alyeska Investment Group L.P. lowered its position in Assured Guaranty Ltd. (NYSE:AGO) by 96.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 25,861 shares of the financial services provider’s stock after selling 754,887 shares during the quarter. Alyeska Investment Group L.P.’s holdings in Assured Guaranty were worth $976,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also recently modified their holdings of the company. Tower Research Capital LLC TRC lifted its stake in shares of Assured Guaranty by 962.5% during the second 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 in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Assured Guaranty by 11.7% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,150 shares of the financial services provider’s stock worth $215,000 after purchasing an additional 539 shares in the last quarter. Quantum Capital Management acquired a new position in shares of Assured Guaranty during the second quarter worth about $218,000. FineMark National Bank & Trust acquired a new position in shares of Assured Guaranty during the third quarter worth about $259,000. Finally, Zweig DiMenna Associates LLC acquired a new position in shares of Assured Guaranty during the second quarter worth about $288,000. Hedge funds and other institutional investors own 95.87% of the company’s stock.
AGO has been the topic of a number of recent research reports. MKM Partners restated a “buy” rating on shares of Assured Guaranty in a research note on Thursday, October 5th. UBS restated a “buy” rating and set a $47.00 price objective (down previously from $49.00) on shares of Assured Guaranty in a research note on Wednesday, October 4th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $47.00.
Assured Guaranty Ltd. (AGO) opened at $34.19 on Friday. The company has a market capitalization of $4,034.54, a PE ratio of 6.09 and a beta of 1.64. Assured Guaranty Ltd. has a one year low of $33.78 and a one year high of $45.73. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.56 and a current ratio of 0.56.
Assured Guaranty (NYSE:AGO) last announced its earnings results on Thursday, November 2nd. The financial services provider reported $1.29 earnings per share (EPS) for the quarter, topping the Zacks’ 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 business had revenue of $623.00 million for the quarter, compared to analyst estimates of $262.09 million. During the same period in the previous year, the company earned $3.74 earnings per share. The company’s revenue for the quarter was up 10.1% compared to the same quarter last year.
Assured Guaranty announced that its Board of Directors has initiated a share buyback program on Thursday, November 2nd that allows the company to buyback $300.00 million in outstanding shares. This buyback authorization allows the financial services provider to purchase shares of its stock through open market purchases. Shares buyback programs are usually an indication that the company’s board believes its shares are undervalued.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 29th. Stockholders of record on Wednesday, November 15th were given a dividend of $0.142 per share. This represents a $0.57 dividend on an annualized basis and a dividend yield of 1.66%. The ex-dividend date of this dividend was Tuesday, November 14th. Assured Guaranty’s payout ratio is 8.21%.
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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