Assured Guaranty Ltd. (AGO) Position Decreased by RDL Financial Inc.
RDL Financial Inc. decreased its stake in shares of Assured Guaranty Ltd. (NYSE:AGO) by 16.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 62,660 shares of the financial services provider’s stock after selling 12,455 shares during the period. Assured Guaranty accounts for about 2.0% of RDL Financial Inc.’s portfolio, making the stock its 14th largest position. RDL Financial Inc. owned 0.05% of Assured Guaranty worth $2,615,000 as of its most recent SEC filing.
Several other hedge funds have also recently made changes to their positions in AGO. Sawtooth Solutions LLC boosted its position in Assured Guaranty by 7.4% in the second quarter. Sawtooth Solutions LLC now owns 7,181 shares of the financial services provider’s stock valued at $300,000 after buying an additional 492 shares during the last quarter. Chicago Equity Partners LLC boosted its position in Assured Guaranty by 72.2% in the second quarter. Chicago Equity Partners LLC now owns 671,460 shares of the financial services provider’s stock valued at $28,027,000 after buying an additional 281,630 shares during the last quarter. Principal Financial Group Inc. boosted its position in Assured Guaranty by 27.7% in the second quarter. Principal Financial Group Inc. now owns 1,176,758 shares of the financial services provider’s stock valued at $49,118,000 after buying an additional 255,081 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Assured Guaranty by 11.7% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,150 shares of the financial services provider’s stock valued at $215,000 after buying an additional 539 shares during the last quarter. Finally, Kahn Brothers Group Inc. DE boosted its position in Assured Guaranty by 101.7% in the second quarter. Kahn Brothers Group Inc. DE now owns 776,705 shares of the financial services provider’s stock valued at $32,420,000 after buying an additional 391,575 shares during the last quarter. Hedge funds and other institutional investors own 96.77% of the company’s stock.
Shares of Assured Guaranty Ltd. (NYSE AGO) traded up 0.68% during trading on Friday, hitting $42.83. 64,111 shares of the company’s stock were exchanged. Assured Guaranty Ltd. has a 12-month low of $26.37 and a 12-month high of $45.73. The company has a 50-day moving average of $43.87 and a 200-day moving average of $40.82. The company has a market cap of $5.10 billion, a P/E ratio of 4.81 and a beta of 1.68.
Assured Guaranty (NYSE:AGO) last released its earnings results on Wednesday, August 2nd. The financial services provider reported $1.16 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.72 by $0.44. Assured Guaranty had a net margin of 61.25% and a return on equity of 16.00%. The business had revenue of $308 million during the quarter, compared to analyst estimates of $288.15 million. During the same quarter in the prior year, the firm earned $1.03 earnings per share. The company’s revenue for the quarter was down 22.2% compared to the same quarter last year. On average, equities analysts expect that Assured Guaranty Ltd. will post $4.89 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 30th. Stockholders of record on Wednesday, August 16th were issued a dividend of $0.142 per share. This represents a $0.57 dividend on an annualized basis and a dividend yield of 1.34%. The ex-dividend date was Monday, August 14th. Assured Guaranty’s payout ratio is 6.46%.
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Several equities analysts recently weighed in on the stock. BidaskClub cut shares of Assured Guaranty from a “buy” rating to a “hold” rating in a research note on Monday, July 31st. BTIG Research reaffirmed a “buy” rating and set a $49.00 target price on shares of Assured Guaranty in a research note on Friday, July 14th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $42.00 target price on shares of Assured Guaranty in a research note on Tuesday, July 4th. Finally, UBS AG reaffirmed a “buy” rating and set a $45.00 target price (up from $44.00) on shares of Assured Guaranty in a research note on Wednesday, May 17th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $46.50.
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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