Assured Guaranty Ltd. (AGO) Shares Bought by GSA Capital Partners LLP
GSA Capital Partners LLP increased its position in Assured Guaranty Ltd. (NYSE:AGO) by 128.6% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 35,526 shares of the financial services provider’s stock after purchasing an additional 19,986 shares during the quarter. GSA Capital Partners LLP’s holdings in Assured Guaranty were worth $1,341,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. California Public Employees Retirement System lifted its stake in shares of Assured Guaranty by 3.6% in the 3rd quarter. California Public Employees Retirement System now owns 532,102 shares of the financial services provider’s stock valued at $20,087,000 after purchasing an additional 18,410 shares during the period. Cubist Systematic Strategies LLC purchased a new position in shares of Assured Guaranty in the 3rd quarter valued at approximately $2,833,000. Point72 Asset Management L.P. purchased a new position in shares of Assured Guaranty in the 3rd quarter valued at approximately $958,000. AMP Capital Investors Ltd lifted its stake in shares of Assured Guaranty by 50.6% in the 3rd quarter. AMP Capital Investors Ltd now owns 38,084 shares of the financial services provider’s stock valued at $1,437,000 after purchasing an additional 12,800 shares during the period. Finally, Mackenzie Financial Corp lifted its stake in shares of Assured Guaranty by 12.9% in the 3rd quarter. Mackenzie Financial Corp now owns 403,130 shares of the financial services provider’s stock valued at $15,218,000 after purchasing an additional 46,030 shares during the period. Institutional investors own 95.84% of the company’s stock.
A number of research analysts have recently commented on AGO shares. MKM Partners restated a “buy” rating on shares of Assured Guaranty in a research note on Thursday, October 5th. UBS restated a “buy” rating and issued a $47.00 target price (down previously from $49.00) on shares of Assured Guaranty in a research note on Wednesday, October 4th. Finally, Keefe, Bruyette & Woods restated an “outperform” rating and issued a $47.00 target price on shares of Assured Guaranty in a research note on Wednesday. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Assured Guaranty presently has an average rating of “Buy” and a consensus price target of $48.25.
Assured Guaranty (NYSE:AGO) last announced its quarterly earnings data on Thursday, November 2nd. The financial services provider reported $1.29 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.78 by $0.51. The business had revenue of $623.00 million during the quarter, compared to analysts’ expectations of $262.09 million. Assured Guaranty had a return on equity of 10.59% and a net margin of 45.38%. The firm’s quarterly revenue was up 10.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.74 earnings per share.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 29th. Shareholders of record on Wednesday, November 15th were paid a dividend of $0.142 per share. This represents a $0.57 dividend on an annualized basis and a yield of 1.67%. The ex-dividend date was Tuesday, November 14th. Assured Guaranty’s payout ratio is 8.21%.
Assured Guaranty declared that its Board of Directors has initiated a share buyback plan on Thursday, November 2nd that authorizes the company to buyback $300.00 million in shares. This buyback authorization authorizes the financial services provider to reacquire shares of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s management believes its shares are undervalued.
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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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