Assured Guaranty Ltd. (AGO) Stake Lessened by First Mercantile Trust Co.
First Mercantile Trust Co. lowered its stake in shares of Assured Guaranty Ltd. (NYSE:AGO) by 9.8% during the 1st quarter, Holdings Channel reports. The institutional investor owned 4,441 shares of the financial services provider’s stock after selling 480 shares during the quarter. First Mercantile Trust Co.’s holdings in Assured Guaranty were worth $197,000 at the end of the most recent reporting period.
Several other institutional investors also recently added to or reduced their stakes in the company. Penserra Capital Management LLC bought a new stake in Assured Guaranty in the fourth quarter worth $30,000. Captrust Financial Advisors increased its position in Assured Guaranty by 164.1% in the fourth quarter. Captrust Financial Advisors now owns 1,141 shares of the financial services provider’s stock worth $44,000 after purchasing an additional 709 shares during the last quarter. Global Retirement Partners LLC increased its position in Assured Guaranty by 17.6% in the fourth quarter. Global Retirement Partners LLC now owns 1,692 shares of the financial services provider’s stock worth $65,000 after purchasing an additional 253 shares during the last quarter. Parkside Financial Bank & Trust increased its position in Assured Guaranty by 20.4% in the fourth quarter. Parkside Financial Bank & Trust now owns 1,810 shares of the financial services provider’s stock worth $69,000 after purchasing an additional 307 shares during the last quarter. Finally, Oakworth Capital Inc. bought a new stake in Assured Guaranty in the fourth quarter worth $77,000. Hedge funds and other institutional investors own 97.84% of the company’s stock.
Shares of AGO opened at $42.31 on Monday. Assured Guaranty Ltd. has a fifty-two week low of $34.93 and a fifty-two week high of $47.97. The firm has a market capitalization of $4.30 billion, a P/E ratio of 11.08 and a beta of 1.04. The company has a current ratio of 0.51, a quick ratio of 0.49 and a debt-to-equity ratio of 0.18.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 5th. Investors of record on Wednesday, May 22nd will be given a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 1.70%. The ex-dividend date is Tuesday, May 21st.
Separately, MKM Partners boosted their price target on shares of Assured Guaranty to $65.00 and gave the stock a “buy” rating in a research report on Friday, May 10th.
In related news, Director G Lawrence Buhl sold 3,873 shares of the business’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $43.77, for a total value of $169,521.21. Following the sale, the director now owns 59,352 shares in the company, valued at $2,597,837.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 2.81% of the company’s stock.
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About Assured Guaranty
Assured Guaranty Ltd., through its subsidiaries, provides credit protection products to public finance, infrastructure, and structured finance markets in the United States and internationally. It offers financial guaranty insurance that protects holders of debt instruments and other monetary obligations from defaults in scheduled payments.
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