Stifel Financial Corp raised its holdings in Assured Guaranty Ltd. (NYSE:AGO) by 8.9% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 124,537 shares of the financial services provider’s stock after acquiring an additional 10,209 shares during the quarter. Stifel Financial Corp owned 0.11% of Assured Guaranty worth $4,677,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also modified their holdings of the business. Thrivent Financial For Lutherans lifted its holdings in Assured Guaranty by 0.6% in the 2nd quarter. Thrivent Financial For Lutherans now owns 2,980,060 shares of the financial services provider’s stock valued at $124,388,000 after acquiring an additional 18,350 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in Assured Guaranty by 58.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,772,951 shares of the financial services provider’s stock valued at $67,780,000 after acquiring an additional 652,786 shares during the last quarter. Seizert Capital Partners LLC lifted its holdings in Assured Guaranty by 3.1% in the 3rd quarter. Seizert Capital Partners LLC now owns 1,531,441 shares of the financial services provider’s stock valued at $57,812,000 after acquiring an additional 46,488 shares during the last quarter. Boston Partners lifted its holdings in Assured Guaranty by 2.4% in the 3rd quarter. Boston Partners now owns 1,323,777 shares of the financial services provider’s stock valued at $49,973,000 after acquiring an additional 30,569 shares during the last quarter. Finally, Fuller & Thaler Asset Management Inc. lifted its holdings in Assured Guaranty by 0.4% in the 3rd quarter. Fuller & Thaler Asset Management Inc. now owns 1,250,839 shares of the financial services provider’s stock valued at $47,219,000 after acquiring an additional 5,241 shares during the last quarter. 95.87% of the stock is owned by institutional investors.
Shares of Assured Guaranty Ltd. (NYSE AGO) opened at $34.33 on Friday. Assured Guaranty Ltd. has a 1-year low of $33.78 and a 1-year high of $45.73. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.56 and a quick ratio of 0.56. The firm has a market cap of $4,032.20, a PE ratio of 6.09 and a beta of 1.64.
Assured Guaranty announced that its board has approved a share repurchase plan on Thursday, November 2nd that permits the company to buyback $300.00 million in shares. This buyback authorization permits the financial services provider to purchase shares of its stock through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its shares are undervalued.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 29th. Shareholders of record on Wednesday, November 15th were paid a dividend of $0.142 per share. This represents a $0.57 dividend on an annualized basis and a yield of 1.65%. The ex-dividend date of this dividend was Tuesday, November 14th. Assured Guaranty’s dividend payout ratio is presently 8.21%.
A number of brokerages have weighed in on AGO. MKM Partners reissued a “buy” rating on shares of Assured Guaranty in a report on Thursday, October 5th. UBS reissued a “buy” rating and issued a $47.00 price target (down from $49.00) on shares of Assured Guaranty in a report on Wednesday, October 4th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Assured Guaranty has an average rating of “Buy” and a consensus target price of $47.00.
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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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