World Asset Management Inc lowered its stake in shares of Assured Guaranty Ltd. (NYSE:AGO) by 10.3% during the second quarter, Holdings Channel reports. The fund owned 7,985 shares of the financial services provider’s stock after selling 917 shares during the period. World Asset Management Inc’s holdings in Assured Guaranty were worth $333,000 at the end of the most recent reporting period.
Other hedge funds have also recently made changes to their positions in the company. Parallel Advisors LLC boosted 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 last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Assured Guaranty during the first quarter valued at about $205,000. Creative Planning boosted its stake in shares of 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 during the last quarter. Advisors Asset Management Inc. boosted 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 last quarter. Finally, Greenleaf Trust purchased a new stake in shares of Assured Guaranty during the second quarter valued at about $319,000.
Shares of Assured Guaranty Ltd. (AGO) opened at 44.02 on Tuesday. The firm’s 50-day moving average price is $43.86 and its 200 day moving average price is $40.57. Assured Guaranty Ltd. has a 52 week low of $26.37 and a 52 week high of $45.73. The firm has a market cap of $5.24 billion, a PE ratio of 4.95 and a beta of 1.68.
Assured Guaranty (NYSE:AGO) last released its earnings results on Wednesday, August 2nd. The financial services provider reported $1.16 earnings per share for the quarter, topping analysts’ consensus estimates of $0.72 by $0.44. Assured Guaranty had a return on equity of 16.00% and a net margin of 61.25%. The business had revenue of $308 million for the quarter, compared to the consensus estimate of $288.15 million. During the same period last year, the business earned $1.03 earnings per share. The firm’s revenue for the quarter was down 22.2% compared to the same quarter last year. Equities analysts anticipate that Assured Guaranty Ltd. will post $4.88 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 30th. Investors of record on Wednesday, August 16th will be given a dividend of $0.142 per share. This represents a $0.57 dividend on an annualized basis and a yield of 1.29%. The ex-dividend date is Monday, August 14th. Assured Guaranty’s dividend payout ratio (DPR) is presently 6.46%.
Several analysts have issued reports on AGO shares. BTIG Research restated a “buy” rating and set a $49.00 price objective on shares of Assured Guaranty in a research note on Sunday, May 28th. UBS AG restated a “buy” rating and set a $45.00 price objective (up previously from $44.00) on shares of Assured Guaranty in a research note on Wednesday, May 17th. BidaskClub upgraded Assured Guaranty from a “hold” rating to a “buy” rating in a research note on Saturday, June 17th. Finally, Keefe, Bruyette & Woods restated a “hold” rating and set a $42.00 price objective on shares of Assured Guaranty in a research note on Tuesday, July 4th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $46.50.
About Assured Guaranty
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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