Great Lakes Advisors LLC cut its stake in Assured Guaranty Ltd. (NYSE:AGO) by 94.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,990 shares of the financial services provider’s stock after selling 271,347 shares during the period. Great Lakes Advisors LLC’s holdings in Assured Guaranty were worth $666,000 at the end of the most recent quarter.
Other hedge funds also recently made changes to their positions in the company. Penserra Capital Management LLC bought a new position in shares of Assured Guaranty during the 4th quarter worth approximately $30,000. Captrust Financial Advisors boosted its holdings in shares of Assured Guaranty by 164.1% during the 4th quarter. Captrust Financial Advisors now owns 1,141 shares of the financial services provider’s stock worth $44,000 after buying an additional 709 shares in the last quarter. Global Retirement Partners LLC boosted its holdings in shares of Assured Guaranty by 17.6% during the 4th quarter. Global Retirement Partners LLC now owns 1,692 shares of the financial services provider’s stock worth $65,000 after buying an additional 253 shares in the last quarter. Parkside Financial Bank & Trust raised its position in shares of Assured Guaranty by 20.4% during the fourth quarter. Parkside Financial Bank & Trust now owns 1,810 shares of the financial services provider’s stock worth $69,000 after purchasing an additional 307 shares during the period. Finally, Oakworth Capital Inc. acquired a new position in shares of Assured Guaranty during the fourth quarter worth approximately $77,000. Institutional investors and hedge funds own 98.00% of the company’s stock.
Separately, MKM Partners upped their target price on Assured Guaranty to $65.00 and gave the stock a “buy” rating in a research report on Friday, May 10th.
In related news, Director G Lawrence Buhl sold 3,873 shares of the stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $43.77, for a total value of $169,521.21. Following the completion of the sale, the director now directly owns 59,352 shares of the company’s stock, valued at approximately $2,597,837.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 2.81% of the company’s stock.
NYSE AGO opened at $41.87 on Friday. The firm has a market capitalization of $4.25 billion, a P/E ratio of 10.96 and a beta of 1.04. Assured Guaranty Ltd. has a 12 month low of $34.93 and a 12 month high of $47.97. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 0.18.
Assured Guaranty (NYSE:AGO) last released its quarterly earnings results on Thursday, May 9th. The financial services provider reported $0.82 EPS for the quarter, beating analysts’ consensus estimates of $0.75 by $0.07. The business had revenue of $234.00 million during the quarter, compared to analyst estimates of $228.29 million. Assured Guaranty had a return on equity of 6.25% and a net margin of 41.81%. Assured Guaranty’s quarterly revenue was down 20.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.33 EPS.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 5th. Investors of record on Wednesday, May 22nd will be given a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 1.72%. The ex-dividend date is Tuesday, May 21st.
Assured Guaranty Company Profile
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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