Daiwa Securities Group Inc. Has $2.31 Million Stake in Assured Guaranty Ltd. (AGO)

Daiwa Securities Group Inc. cut its stake in Assured Guaranty Ltd. (NYSE:AGO) by 8.4% in the third quarter, HoldingsChannel reports. The firm owned 54,672 shares of the financial services provider’s stock after selling 4,985 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Assured Guaranty were worth $2,309,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. BlackRock Inc. grew its position in shares of Assured Guaranty by 12.4% in the second quarter. BlackRock Inc. now owns 6,867,562 shares of the financial services provider’s stock valued at $245,377,000 after purchasing an additional 757,761 shares in the last quarter. Principal Financial Group Inc. grew its position in shares of Assured Guaranty by 12,329.9% in the first quarter. Principal Financial Group Inc. now owns 2,151,733 shares of the financial services provider’s stock valued at $77,893,000 after purchasing an additional 2,134,422 shares in the last quarter. Boston Partners grew its position in shares of Assured Guaranty by 36.5% in the second quarter. Boston Partners now owns 1,856,469 shares of the financial services provider’s stock valued at $66,332,000 after purchasing an additional 496,860 shares in the last quarter. Kahn Brothers Group Inc. DE grew its position in shares of Assured Guaranty by 1.1% in the third quarter. Kahn Brothers Group Inc. DE now owns 1,271,100 shares of the financial services provider’s stock valued at $53,679,000 after purchasing an additional 13,340 shares in the last quarter. Finally, Northern Trust Corp grew its position in shares of Assured Guaranty by 2.6% in the second quarter. Northern Trust Corp now owns 1,000,411 shares of the financial services provider’s stock valued at $35,744,000 after purchasing an additional 24,924 shares in the last quarter. Institutional investors and hedge funds own 95.43% of the company’s stock.

In related news, insider Russell B. Brewer II sold 29,362 shares of the company’s stock in a transaction that occurred on Friday, September 21st. The stock was sold at an average price of $42.36, for a total value of $1,243,774.32. Following the transaction, the insider now directly owns 188,952 shares in the company, valued at $8,004,006.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Patrick W. Kenny sold 4,300 shares of the company’s stock in a transaction that occurred on Thursday, September 6th. The shares were sold at an average price of $41.21, for a total value of $177,203.00. Following the completion of the transaction, the director now owns 59,468 shares in the company, valued at $2,450,676.28. The disclosure for this sale can be found here. Insiders sold 380,734 shares of company stock worth $15,571,121 over the last quarter. 2.62% of the stock is currently owned by insiders.

AGO has been the subject of a number of analyst reports. Keefe, Bruyette & Woods restated a “buy” rating and issued a $48.00 price target on shares of Assured Guaranty in a research report on Friday, August 3rd. ValuEngine upgraded Assured Guaranty from a “sell” rating to a “hold” rating in a research report on Tuesday, September 4th.

AGO opened at $41.56 on Friday. Assured Guaranty Ltd. has a one year low of $32.97 and a one year high of $43.40. The company has a market capitalization of $4.48 billion, a P/E ratio of 10.20 and a beta of 1.30. 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 (NYSE:AGO) last released its quarterly earnings data on Thursday, November 8th. The financial services provider reported $1.47 EPS for the quarter, beating analysts’ consensus estimates of $0.72 by $0.75. Assured Guaranty had a return on equity of 7.02% and a net margin of 37.52%. The firm had revenue of $274.00 million for the quarter, compared to analysts’ expectations of $240.16 million. During the same period in the prior year, the firm posted $1.29 earnings per share. The firm’s quarterly revenue was down 56.0% on a year-over-year basis.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 5th. Investors of record on Wednesday, November 21st will be issued a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 1.54%. The ex-dividend date is Tuesday, November 20th.

ILLEGAL ACTIVITY WARNING: “Daiwa Securities Group Inc. Has $2.31 Million Stake in Assured Guaranty Ltd. (AGO)” was first reported by Sports Perspectives and is the property of of Sports Perspectives. If you are accessing this piece of content on another website, it was stolen and reposted in violation of U.S. & international copyright law. The original version of this piece of content can be viewed at https://sportsperspectives.com/2018/11/10/daiwa-securities-group-inc-has-2-31-million-stake-in-assured-guaranty-ltd-ago.html.

About Assured Guaranty

Assured Guaranty Ltd., through its subsidiaries, provides credit protection products to public finance, infrastructure, and structured finance markets in the United States and internationally. It offers financial guaranty insurance that protects holders of debt instruments and other monetary obligations from defaults in scheduled payments.

See Also: What strategies should day traders use to execute a trade?

Want to see what other hedge funds are holding AGO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Assured Guaranty Ltd. (NYSE:AGO).

Institutional Ownership by Quarter for Assured Guaranty (NYSE:AGO)

Receive News & Ratings for Assured Guaranty Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Assured Guaranty and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply