Assured Guaranty Ltd. (AGO) Holdings Trimmed by DekaBank Deutsche Girozentrale
DekaBank Deutsche Girozentrale lessened its position in shares of Assured Guaranty Ltd. (NYSE:AGO) by 19.5% in the third quarter, according to its most recent filing with the SEC. The firm owned 96,467 shares of the financial services provider’s stock after selling 23,300 shares during the quarter. DekaBank Deutsche Girozentrale owned approximately 0.08% of Assured Guaranty worth $4,185,000 at the end of the most recent quarter.
A number of other large investors have also recently added to or reduced their stakes in AGO. Tower Research Capital LLC TRC boosted its holdings in shares of Assured Guaranty by 962.5% during the 2nd quarter. Tower Research Capital LLC TRC now owns 4,250 shares of the financial services provider’s stock worth $177,000 after buying an additional 3,850 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of 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 buying an additional 539 shares in the last quarter. Quantum Capital Management bought a new position in shares of Assured Guaranty during the 2nd quarter worth approximately $218,000. FineMark National Bank & Trust bought a new position in shares of Assured Guaranty during the 3rd quarter worth approximately $259,000. Finally, Zweig DiMenna Associates LLC bought a new position in shares of Assured Guaranty during the 2nd quarter worth approximately $288,000. 97.36% of the stock is owned by institutional investors and hedge funds.
A number of equities analysts recently issued reports on AGO shares. UBS AG reiterated a “buy” rating and issued a $47.00 target price (down from $49.00) on shares of Assured Guaranty in a report on Wednesday, October 4th. MKM Partners reiterated a “buy” rating on shares of Assured Guaranty in a report on Thursday, October 5th. Finally, BidaskClub cut Assured Guaranty from a “buy” rating to a “hold” rating in a report on Monday, July 31st. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $47.00.
Assured Guaranty Ltd. (NYSE:AGO) opened at $37.07 on Tuesday. 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 Ltd. has a 52 week low of $34.67 and a 52 week high of $45.73. The firm has a market capitalization of $4,297.63, a price-to-earnings ratio of 6.49 and a beta of 1.66.
Assured Guaranty (NYSE:AGO) last issued its quarterly earnings data on Thursday, November 2nd. The financial services provider reported $1.29 earnings per share for the quarter, beating the 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 analysts’ expectations of $262.09 million. During the same period last year, the business earned $3.74 EPS. The business’s revenue was up 10.1% on a year-over-year basis.
Assured Guaranty announced that its Board of Directors has initiated a stock repurchase plan on Thursday, November 2nd that allows the company to buyback $300.00 million in shares. This buyback authorization allows the financial services provider to purchase shares of its stock through open market purchases. Shares buyback plans are often an indication that the company’s board of directors believes its stock is undervalued.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 29th. Shareholders of record on Wednesday, November 15th will be paid a dividend of $0.142 per share. This represents a $0.57 annualized dividend and a yield of 1.53%. The ex-dividend date is Tuesday, November 14th. Assured Guaranty’s dividend payout ratio (DPR) is presently 8.21%.
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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