Great Lakes Advisors LLC Has $6.04 Million Position in Assured Guaranty Ltd. (AGO)
Great Lakes Advisors LLC raised its position in shares of Assured Guaranty Ltd. (NYSE:AGO) by 21.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 144,719 shares of the financial services provider’s stock after buying an additional 25,729 shares during the period. Great Lakes Advisors LLC owned 0.12% of Assured Guaranty worth $6,041,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also made changes to their positions in AGO. Teachers Advisors LLC increased its stake in shares of Assured Guaranty by 9.2% in the fourth quarter. Teachers Advisors LLC now owns 221,000 shares of the financial services provider’s stock valued at $8,347,000 after buying an additional 18,629 shares during the last quarter. Creative Planning increased 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. James Investment Research Inc. purchased a new stake in shares of Assured Guaranty during the first quarter valued at about $394,000. ProShare Advisors LLC increased its stake in shares of Assured Guaranty by 7.6% in the first quarter. ProShare Advisors LLC now owns 19,221 shares of the financial services provider’s stock valued at $713,000 after buying an additional 1,352 shares during the last quarter. Finally, Canada Pension Plan Investment Board increased its stake in shares of Assured Guaranty by 67.6% in the first quarter. Canada Pension Plan Investment Board now owns 17,100 shares of the financial services provider’s stock valued at $635,000 after buying an additional 6,900 shares during the last quarter.
Assured Guaranty Ltd. (NYSE:AGO) opened at 42.60 on Friday. Assured Guaranty Ltd. has a 12 month low of $26.37 and a 12 month high of $45.73. The stock has a market capitalization of $5.07 billion, a price-to-earnings ratio of 4.79 and a beta of 1.68. The stock’s 50 day moving average is $44.00 and its 200-day moving average is $40.77.
Assured Guaranty (NYSE:AGO) last announced its quarterly earnings results on Wednesday, August 2nd. The financial services provider reported $1.16 earnings per share for the quarter, beating analysts’ consensus estimates of $0.72 by $0.44. The firm had revenue of $308 million for the quarter, compared to analysts’ expectations of $288.15 million. Assured Guaranty had a net margin of 61.25% and a return on equity of 16.00%. Assured Guaranty’s revenue was down 22.2% compared to the same quarter last year. During the same period in the previous year, the company posted $1.03 earnings per share. On average, equities research analysts expect that Assured Guaranty Ltd. will post $4.89 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 30th. Stockholders of record on Wednesday, August 16th will be given a dividend of $0.142 per share. The ex-dividend date is Monday, August 14th. This represents a $0.57 dividend on an annualized basis and a dividend yield of 1.33%. Assured Guaranty’s payout ratio is currently 6.46%.
Several brokerages have issued reports on AGO. UBS AG reissued a “buy” rating and issued a $45.00 price objective (up previously from $44.00) on shares of Assured Guaranty in a research note on Wednesday, May 17th. BidaskClub downgraded shares of Assured Guaranty from a “buy” rating to a “hold” rating in a research note on Saturday, June 24th. BTIG Research reissued a “buy” rating and issued a $49.00 price objective on shares of Assured Guaranty in a research note on Friday, July 14th. Finally, Keefe, Bruyette & Woods reissued a “hold” rating and issued a $42.00 price objective on shares of Assured Guaranty in a research note on Tuesday, July 4th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price 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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