Assured Guaranty Ltd. (AGO) Position Lowered by HighVista Strategies LLC
HighVista Strategies LLC cut its holdings in shares of Assured Guaranty Ltd. (NYSE:AGO) by 71.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,900 shares of the financial services provider’s stock after selling 19,900 shares during the period. HighVista Strategies LLC’s holdings in Assured Guaranty were worth $330,000 at the end of the most recent reporting period.
Other institutional investors have also added to or reduced their stakes in the company. Parallel Advisors LLC boosted its position in shares of Assured Guaranty by 2.3% during 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. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Assured Guaranty by 11.7% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,150 shares of the financial services provider’s stock valued at $215,000 after buying an additional 539 shares during the last quarter. Quantum Capital Management purchased a new stake in shares of Assured Guaranty during the second quarter valued at $218,000. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Assured Guaranty during the first quarter valued at $205,000. Finally, Zweig DiMenna Associates LLC purchased a new stake in shares of Assured Guaranty during the second quarter valued at $288,000. 96.71% of the stock is currently owned by institutional investors.
Shares of Assured Guaranty Ltd. (NYSE AGO) traded down 1.26% on Friday, reaching $37.75. The company’s stock had a trading volume of 1,538,377 shares. The stock has a market cap of $4.49 billion, a PE ratio of 4.24 and a beta of 1.67. Assured Guaranty Ltd. has a 12-month low of $26.37 and a 12-month high of $45.73. The firm has a 50 day moving average price of $42.73 and a 200-day moving average price of $40.82.
Assured Guaranty (NYSE:AGO) last announced its earnings results on Wednesday, August 2nd. The financial services provider reported $1.16 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.72 by $0.44. Assured Guaranty had a return on equity of 16.00% and a net margin of 61.25%. The company had revenue of $308.00 million for the quarter, compared to analyst estimates of $288.15 million. During the same period in the prior year, the company posted $1.03 EPS. The firm’s quarterly revenue was down 22.2% compared to the same quarter last year. Equities research analysts expect that Assured Guaranty Ltd. will post $4.89 EPS for the current year.
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Several equities research analysts recently commented on the company. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $42.00 price objective on shares of Assured Guaranty in a research report on Tuesday, July 4th. BidaskClub cut Assured Guaranty from a “buy” rating to a “hold” rating in a research report on Saturday, June 24th. Finally, BTIG Research reaffirmed a “buy” rating and set a $49.00 price objective on shares of Assured Guaranty in a research report on Friday, July 14th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $46.50.
Assured Guaranty 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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