Daiwa Securities Group Inc. Buys New Stake in Assured Guaranty Ltd. (AGO)
Daiwa Securities Group Inc. bought a new stake in shares of Assured Guaranty Ltd. (NYSE:AGO) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 40,707 shares of the financial services provider’s stock, valued at approximately $1,699,000.
A number of other hedge funds have also added to or reduced their stakes in the stock. UBS Asset Management Americas Inc. raised its stake in Assured Guaranty by 171.2% in the fourth quarter. UBS Asset Management Americas Inc. now owns 665,552 shares of the financial services provider’s stock valued at $25,138,000 after buying an additional 420,147 shares in the last quarter. Teachers Advisors LLC raised its stake in Assured Guaranty by 9.2% in the fourth quarter. Teachers Advisors LLC now owns 221,000 shares of the financial services provider’s stock valued at $8,347,000 after buying an additional 18,629 shares in the last quarter. Creative Planning raised its stake in Assured Guaranty by 36.7% in the first quarter. Creative Planning now owns 7,516 shares of the financial services provider’s stock valued at $279,000 after buying an additional 2,016 shares in the last quarter. Bank of Montreal Can raised its stake in Assured Guaranty by 39.3% in the first quarter. Bank of Montreal Can now owns 293,179 shares of the financial services provider’s stock valued at $10,880,000 after buying an additional 82,686 shares in the last quarter. Finally, Quantitative Systematic Strategies LLC raised its stake in Assured Guaranty by 56.6% in the first quarter. Quantitative Systematic Strategies LLC now owns 46,354 shares of the financial services provider’s stock valued at $1,720,000 after buying an additional 16,757 shares in the last quarter. 99.31% of the stock is owned by institutional investors and hedge funds.
Shares of Assured Guaranty Ltd. (AGO) opened at 44.04 on Thursday. The company has a 50 day moving average of $43.63 and a 200 day moving average of $40.49. The stock has a market cap of $5.35 billion, a P/E ratio of 4.95 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.
Assured Guaranty (NYSE:AGO) last announced its quarterly earnings results on Wednesday, August 2nd. The financial services provider reported $1.16 earnings per share for the quarter, beating 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 firm had revenue of $308 million for the quarter, compared to analyst estimates of $288.15 million. During the same quarter in the previous year, the firm posted $1.03 earnings per share. The business’s revenue was down 22.2% on a year-over-year basis. Equities research analysts expect that Assured Guaranty Ltd. will post $4.44 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 30th. Shareholders of record on Wednesday, August 16th will be paid a $0.142 dividend. This represents a $0.57 dividend on an annualized basis and a yield of 1.29%. The ex-dividend date of this dividend is Monday, August 14th. Assured Guaranty’s payout ratio is currently 6.46%.
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Several analysts recently commented on AGO shares. UBS AG reissued 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. BTIG Research restated a “buy” rating and issued a $49.00 price target on shares of Assured Guaranty in a research report on Sunday, May 28th. BidaskClub upgraded shares of Assured Guaranty from a “sell” rating to a “hold” rating in a research report on Friday, June 9th. Finally, Keefe, Bruyette & Woods restated a “hold” rating and issued a $42.00 price target on shares of Assured Guaranty in a research report on Tuesday, July 4th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $46.50.
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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