Assured Guaranty Ltd. (AGO) Position Reduced by Victory Capital Management Inc.
Victory Capital Management Inc. cut its stake in shares of Assured Guaranty Ltd. (NYSE:AGO) by 6.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 956,490 shares of the financial services provider’s stock after selling 67,523 shares during the period. Victory Capital Management Inc. owned about 0.79% of Assured Guaranty worth $39,923,000 as of its most recent SEC filing.
A number of other institutional investors have also modified their holdings of AGO. Parallel Advisors LLC increased its stake in Assured Guaranty by 2.3% in the first quarter. Parallel Advisors LLC now owns 3,788 shares of the financial services provider’s stock valued at $144,000 after buying an additional 84 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in Assured Guaranty during the first quarter valued at approximately $205,000. Advisors Asset Management Inc. increased its stake in Assured Guaranty by 16.8% in the first quarter. Advisors Asset Management Inc. now owns 7,967 shares of the financial services provider’s stock valued at $296,000 after buying an additional 1,147 shares in the last quarter. Greenleaf Trust purchased a new stake in Assured Guaranty during the second quarter valued at approximately $319,000. Finally, Strategic Global Advisors LLC purchased a new stake in Assured Guaranty during the first quarter valued at approximately $339,000. 96.77% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Assured Guaranty Ltd. (NYSE:AGO) opened at 42.40 on Thursday. The company has a market cap of $5.05 billion, a P/E ratio of 4.77 and a beta of 1.68. Assured Guaranty Ltd. has a 12-month low of $26.37 and a 12-month high of $45.73. The stock’s 50 day moving average price is $44.00 and its 200 day moving average price is $40.77.
Assured Guaranty (NYSE:AGO) last issued 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. The company had revenue of $308 million during the quarter, compared to analyst estimates of $288.15 million. Assured Guaranty had a return on equity of 16.00% and a net margin of 61.25%. The firm’s quarterly revenue was down 22.2% on a year-over-year basis. During the same quarter last year, the business posted $1.03 EPS. On average, analysts forecast that Assured Guaranty Ltd. will post $4.89 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, August 30th. Investors of record on Wednesday, August 16th were paid a $0.142 dividend. The ex-dividend date was Monday, August 14th. This represents a $0.57 dividend on an annualized basis and a yield of 1.34%. Assured Guaranty’s dividend payout ratio (DPR) is 6.46%.
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Several equities research analysts have recently commented on the company. UBS AG restated a “buy” rating and set a $45.00 price objective (up previously from $44.00) on shares of Assured Guaranty in a report on Wednesday, May 17th. BidaskClub downgraded Assured Guaranty from a “buy” rating to a “hold” rating in a report on Saturday, June 24th. BTIG Research restated a “buy” rating and set a $49.00 price objective on shares of Assured Guaranty in a report on Friday, July 14th. Finally, Keefe, Bruyette & Woods restated a “hold” rating and set a $42.00 price objective on shares of Assured Guaranty in a report on Tuesday, July 4th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target 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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