Taylor Asset Management Inc. Raises Stake in Assured Guaranty Ltd. (AGO)
Taylor Asset Management Inc. boosted its stake in shares of Assured Guaranty Ltd. (NYSE:AGO) by 2.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,170,200 shares of the company’s stock after buying an additional 32,800 shares during the period. Assured Guaranty makes up approximately 8.5% of Taylor Asset Management Inc.’s holdings, making the stock its 2nd largest position. Taylor Asset Management Inc.’s holdings in Assured Guaranty were worth $29,688,000 as of its most recent filing with the SEC.
Other hedge funds have also recently made changes to their positions in the company. Loomis Sayles & Co. L P increased its stake in Assured Guaranty by 86.2% in the first quarter. Loomis Sayles & Co. L P now owns 6,743 shares of the company’s stock worth $171,000 after buying an additional 3,122 shares during the period. Fox Run Management L.L.C. bought a new stake in Assured Guaranty during the second quarter worth about $391,000. Bank of Montreal Can bought a new stake in Assured Guaranty during the second quarter worth about $407,000. Rafferty Asset Management LLC increased its stake in Assured Guaranty by 49.3% in the first quarter. Rafferty Asset Management LLC now owns 18,659 shares of the company’s stock worth $472,000 after buying an additional 6,162 shares during the period. Finally, Creative Planning increased its stake in Assured Guaranty by 299.3% in the second quarter. Creative Planning now owns 21,963 shares of the company’s stock worth $557,000 after buying an additional 16,463 shares during the period. Institutional investors own 97.22% of the company’s stock.
Shares of Assured Guaranty Ltd. (NYSE:AGO) traded up 0.85% during trading on Monday, reaching $27.29. 318,957 shares of the company’s stock were exchanged. Assured Guaranty Ltd. has a 12 month low of $21.79 and a 12 month high of $29.62. The firm has a market cap of $3.60 billion, a price-to-earnings ratio of 5.01 and a beta of 1.92. The stock has a 50-day moving average price of $27.41 and a 200 day moving average price of $26.19.
Assured Guaranty (NYSE:AGO) last released its quarterly earnings results on Thursday, August 4th. The company reported $1.03 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.54 by $0.49. Assured Guaranty had a net margin of 42.77% and a return on equity of 8.80%. The firm earned $372 million during the quarter, compared to analyst estimates of $273.70 million. During the same quarter in the prior year, the firm earned $1.83 EPS. The business’s revenue for the quarter was down 42.7% compared to the same quarter last year. On average, analysts forecast that Assured Guaranty Ltd. will post $3.18 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 31st. Stockholders of record on Wednesday, August 17th were given a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 1.91%. The ex-dividend date of this dividend was Monday, August 15th. Assured Guaranty’s payout ratio is currently 9.58%.
A number of research firms recently issued reports on AGO. MKM Partners set a $40.00 price objective on shares of Assured Guaranty and gave the stock a “buy” rating in a report on Thursday, May 26th. BTIG Research restated a “buy” rating and set a $35.00 price objective on shares of Assured Guaranty in a report on Monday, August 1st.
Assured Guaranty Company Profile
Assured Guaranty Ltd. is a holding company. The Company provides, through its subsidiaries, credit protection products to the United States and international public finance, including infrastructure, and structured finance markets. It conducts its financial guaranty business on a direct basis through the companies, including Assured Guaranty Municipal Corp.
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