Pacer Advisors Inc. Buys New Stake in Assured Guaranty Ltd. (AGO)
Pacer Advisors Inc. acquired a new stake in Assured Guaranty Ltd. (NYSE:AGO) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 20,610 shares of the financial services provider’s stock, valued at approximately $860,000.
A number of other hedge funds also recently modified their holdings of AGO. Parallel Advisors LLC raised its stake in shares of 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 during the period. Dynamic Technology Lab Private Ltd bought a new stake in shares of Assured Guaranty during the first quarter valued at approximately $205,000. Zweig DiMenna Associates LLC bought a new stake in shares of Assured Guaranty during the second quarter valued at approximately $288,000. Advisors Asset Management Inc. raised its stake in shares of 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 during the period. Finally, Greenleaf Trust bought a new stake in shares of Assured Guaranty during the second quarter valued at approximately $319,000. Institutional investors and hedge funds own 96.77% of the company’s stock.
Shares of Assured Guaranty Ltd. (NYSE:AGO) opened at 42.40 on Thursday. The firm has a 50-day moving average of $44.00 and a 200 day moving average of $40.77. The stock has a market capitalization of $5.05 billion, a price-to-earnings ratio of 4.77 and a beta of 1.68. Assured Guaranty Ltd. has a one year low of $26.37 and a one year high of $45.73.
Assured Guaranty (NYSE:AGO) last posted its quarterly earnings data on Wednesday, August 2nd. The financial services provider reported $1.16 EPS for the quarter, beating the Thomson Reuters’ 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 business had revenue of $308 million during the quarter, compared to analyst estimates of $288.15 million. During the same quarter last year, the firm posted $1.03 earnings per share. The business’s revenue for the quarter was down 22.2% compared to the same quarter last year. On average, equities research analysts predict that Assured Guaranty Ltd. will post $4.89 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 30th. Stockholders of record on Wednesday, August 16th were paid a $0.142 dividend. This represents a $0.57 annualized dividend and a dividend yield of 1.34%. The ex-dividend date of this dividend was Monday, August 14th. Assured Guaranty’s payout ratio is 6.46%.
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AGO has been the subject of several research analyst reports. BTIG Research restated a “buy” rating and issued a $49.00 price objective on shares of Assured Guaranty in a report on Sunday, May 28th. UBS AG restated a “buy” rating and issued a $45.00 price objective (up from $44.00) on shares of Assured Guaranty in a report on Wednesday, May 17th. BidaskClub upgraded shares of Assured Guaranty from a “hold” rating to a “buy” rating in a report on Saturday, June 17th. Finally, Keefe, Bruyette & Woods restated a “hold” rating and issued a $42.00 price objective on shares of Assured Guaranty in a report on Tuesday, July 4th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock presently has an average 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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