Cambria Investment Management L.P. Cuts Stake in Assured Guaranty Ltd. (AGO)
Cambria Investment Management L.P. lessened its stake in shares of Assured Guaranty Ltd. (NYSE:AGO) by 12.1% in the second quarter, according to the company in its most recent filing with the SEC. The fund owned 45,219 shares of the financial services provider’s stock after selling 6,218 shares during the quarter. Cambria Investment Management L.P.’s holdings in Assured Guaranty were worth $1,887,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Parallel Advisors LLC boosted its holdings in shares of Assured Guaranty by 2.3% during the 1st quarter. Parallel Advisors LLC now owns 3,788 shares of the financial services provider’s stock worth $144,000 after buying an additional 84 shares during the period. Dynamic Technology Lab Private Ltd acquired a new position in Assured Guaranty in the 1st quarter valued at about $205,000. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Assured Guaranty by 11.7% in the 2nd 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 acquired a new position in Assured Guaranty in the 2nd quarter valued at about $218,000. Finally, Zweig DiMenna Associates LLC acquired a new position in Assured Guaranty in the 2nd quarter valued at about $288,000. Institutional investors own 96.71% of the company’s stock.
Several research analysts have weighed in on AGO shares. BidaskClub raised shares of Assured Guaranty from a “sell” rating to a “hold” rating in a report on Friday, June 9th. BTIG Research restated a “buy” rating and set a $49.00 price objective on shares of Assured Guaranty in a report on Friday, July 14th. Finally, Keefe, Bruyette & Woods restated a “hold” rating and set a $42.00 price objective on shares of Assured Guaranty in a report on Tuesday, July 4th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Assured Guaranty presently has a consensus rating of “Buy” and an average price target of $46.50.
Assured Guaranty Ltd. (NYSE AGO) traded down 3.31% on Wednesday, reaching $37.41. The company’s stock had a trading volume of 2,223,271 shares. Assured Guaranty Ltd. has a 12 month low of $27.87 and a 12 month high of $45.73. The firm has a market cap of $4.45 billion, a price-to-earnings ratio of 4.20 and a beta of 1.65. The firm has a 50 day moving average of $41.40 and a 200 day moving average of $40.78.
Assured Guaranty (NYSE:AGO) last released its earnings results on Wednesday, August 2nd. The financial services provider reported $1.16 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.72 by $0.44. Assured Guaranty had a net margin of 61.25% and a return on equity of 16.00%. The firm had revenue of $308.00 million during the quarter, compared to the consensus estimate of $288.15 million. During the same period in the prior year, the firm earned $1.03 EPS. The company’s revenue was down 22.2% compared to the same quarter last year. Analysts anticipate that Assured Guaranty Ltd. will post $4.89 earnings per share for the current year.
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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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