Assured Guaranty Ltd. (AGO) Shares Bought by Suntrust Banks Inc.
Suntrust Banks Inc. raised its position in shares of Assured Guaranty Ltd. (NYSE:AGO) by 3.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,853 shares of the financial services provider’s stock after purchasing an additional 713 shares during the period. Suntrust Banks Inc.’s holdings in Assured Guaranty were worth $953,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. TIAA FSB acquired a new position in Assured Guaranty during the second quarter valued at approximately $3,377,000. ETRADE Capital Management LLC increased its holdings in shares of Assured Guaranty by 4.4% during the second quarter. ETRADE Capital Management LLC now owns 11,509 shares of the financial services provider’s stock worth $480,000 after buying an additional 485 shares in the last quarter. FMR LLC increased its holdings in shares of Assured Guaranty by 35.7% during the second quarter. FMR LLC now owns 529,892 shares of the financial services provider’s stock worth $22,118,000 after buying an additional 139,299 shares in the last quarter. Quantum Capital Management acquired a new position in shares of Assured Guaranty during the second quarter worth $218,000. Finally, UBS Asset Management Americas Inc. increased its holdings in shares of Assured Guaranty by 16.5% during the second quarter. UBS Asset Management Americas Inc. now owns 708,873 shares of the financial services provider’s stock worth $29,588,000 after buying an additional 100,515 shares in the last quarter. Institutional investors and hedge funds own 96.71% of the company’s stock.
Assured Guaranty Ltd. (NYSE AGO) opened at 37.73 on Friday. Assured Guaranty Ltd. has a one year low of $28.11 and a one year high of $45.73. The firm has a market capitalization of $4.49 billion, a P/E ratio of 4.24 and a beta of 1.65. The stock’s 50 day moving average is $41.07 and its 200 day moving average is $40.73.
Assured Guaranty (NYSE:AGO) last posted its quarterly earnings data on Wednesday, August 2nd. The financial services provider reported $1.16 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.72 by $0.44. The firm had revenue of $308.00 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%. The business’s quarterly revenue was down 22.2% on a year-over-year basis. During the same quarter last year, the company posted $1.03 EPS. On average, equities research analysts predict that Assured Guaranty Ltd. will post $4.89 earnings per share for the current fiscal year.
Several research analysts have recently issued reports on AGO shares. BTIG Research reiterated a “buy” rating and set a $49.00 price target on shares of Assured Guaranty in a report on Friday, July 14th. BidaskClub upgraded shares of Assured Guaranty from a “hold” rating to a “buy” rating in a report on Friday, July 7th. MKM Partners reiterated a “buy” rating on shares of Assured Guaranty in a report on Thursday. UBS AG reiterated a “buy” rating and set a $47.00 price target (down from $49.00) on shares of Assured Guaranty in a report on Wednesday. Finally, Keefe, Bruyette & Woods reiterated a “hold” rating and set a $42.00 price target 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 issued a buy rating to the company’s stock. Assured Guaranty has an average rating of “Buy” and an average price target of $47.00.
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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