California Public Employees Retirement System reduced its stake in shares of Assured Guaranty Ltd. (NYSE:AGO) by 9.5% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 393,722 shares of the financial services provider’s stock after selling 41,392 shares during the quarter. California Public Employees Retirement System’s holdings in Assured Guaranty were worth $17,493,000 at the end of the most recent reporting period.
Other institutional investors also recently modified their holdings of the company. Cipher Capital LP purchased a new position in Assured Guaranty during the 4th quarter valued at $2,698,000. Squarepoint Ops LLC purchased a new position in Assured Guaranty during the 4th quarter valued at $1,428,000. Prudential Financial Inc. increased its position in Assured Guaranty by 1.6% during the 4th quarter. Prudential Financial Inc. now owns 254,075 shares of the financial services provider’s stock valued at $9,726,000 after purchasing an additional 4,100 shares during the period. Deutsche Bank AG increased its position in Assured Guaranty by 258.5% during the 4th quarter. Deutsche Bank AG now owns 280,211 shares of the financial services provider’s stock valued at $10,724,000 after purchasing an additional 202,057 shares during the period. Finally, Massachusetts Financial Services Co. MA increased its position in Assured Guaranty by 9.8% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 27,685 shares of the financial services provider’s stock valued at $1,060,000 after purchasing an additional 2,469 shares during the period. 97.84% of the stock is currently owned by institutional investors and hedge funds.
Separately, MKM Partners boosted their price objective on shares of Assured Guaranty to $65.00 and gave the company a “buy” rating in a research report on Friday, May 10th.
Assured Guaranty (NYSE:AGO) last released its earnings results on Thursday, May 9th. The financial services provider reported $0.82 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.75 by $0.07. The firm had revenue of $234.00 million for the quarter, compared to the consensus estimate of $228.29 million. Assured Guaranty had a net margin of 41.81% and a return on equity of 6.25%. The company’s revenue was down 20.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.33 EPS.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 5th. Stockholders of record on Wednesday, May 22nd will be given a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.70%. The ex-dividend date of this dividend is Tuesday, May 21st.
In other news, Director G Lawrence Buhl sold 3,873 shares of the company’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $43.77, for a total value of $169,521.21. Following the sale, the director now directly owns 59,352 shares of the company’s stock, valued at approximately $2,597,837.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 2.81% of the stock is owned by corporate insiders.
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.
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