BNP Paribas Arbitrage SA Grows Position in Assured Guaranty Ltd. (AGO)
BNP Paribas Arbitrage SA lifted its position in Assured Guaranty Ltd. (NYSE:AGO) by 22.0% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 15,490 shares of the financial services provider’s stock after acquiring an additional 2,797 shares during the period. BNP Paribas Arbitrage SA’s holdings in Assured Guaranty were worth $585,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. APG Asset Management N.V. acquired a new position in shares of Assured Guaranty in the 3rd quarter valued at $7,716,000. Aperio Group LLC grew its position in Assured Guaranty by 6.2% during the 3rd quarter. Aperio Group LLC now owns 736,147 shares of the financial services provider’s stock worth $27,790,000 after purchasing an additional 42,742 shares during the period. Stevens Capital Management LP acquired a new stake in Assured Guaranty during the 3rd quarter worth about $2,812,000. FineMark National Bank & Trust acquired a new stake in Assured Guaranty during the 3rd quarter worth about $259,000. Finally, Mycio Wealth Partners LLC grew its position in Assured Guaranty by 64.6% during the 3rd quarter. Mycio Wealth Partners LLC now owns 15,285 shares of the financial services provider’s stock worth $577,000 after purchasing an additional 6,000 shares during the period. 95.87% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Assured Guaranty Ltd. (NYSE AGO) opened at $34.64 on Friday. The firm has a market capitalization of $4,144.94, a PE ratio of 6.26 and a beta of 1.64. 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 12-month low of $34.60 and a 12-month high of $45.73.
Assured Guaranty (NYSE:AGO) last announced its quarterly earnings results on Thursday, November 2nd. The financial services provider reported $1.29 earnings per share for the quarter, topping the consensus estimate of $0.78 by $0.51. The company had revenue of $623.00 million for the quarter, compared to the consensus estimate of $262.09 million. Assured Guaranty had a return on equity of 10.59% and a net margin of 45.38%. The firm’s revenue for the quarter was up 10.1% compared to the same quarter last year. During the same period last year, the firm earned $3.74 EPS.
Assured Guaranty announced that its board has approved a share buyback plan on Thursday, November 2nd that allows the company to buyback $300.00 million in outstanding shares. This buyback authorization allows the financial services provider to purchase shares of its stock through open market purchases. Stock buyback plans are often a sign that the company’s leadership believes its shares are undervalued.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 29th. Stockholders of record on Wednesday, November 15th were given a dividend of $0.142 per share. This represents a $0.57 dividend on an annualized basis and a dividend yield of 1.64%. The ex-dividend date of this dividend was Tuesday, November 14th. Assured Guaranty’s dividend payout ratio (DPR) is presently 8.21%.
Several equities research analysts have weighed in on the company. MKM Partners reaffirmed a “buy” rating on shares of Assured Guaranty in a research report on Thursday, October 5th. UBS reaffirmed a “buy” rating and set a $47.00 price target (down from $49.00) on shares of Assured Guaranty in a research report on Wednesday, October 4th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Assured Guaranty presently has a consensus rating of “Buy” and a consensus price target of $47.00.
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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