Assured Guaranty Ltd. (AGO) Holdings Boosted by First Trust Advisors LP
First Trust Advisors LP boosted its holdings in shares of Assured Guaranty Ltd. (NYSE:AGO) by 10.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 380,504 shares of the financial services provider’s stock after purchasing an additional 34,782 shares during the quarter. First Trust Advisors LP owned approximately 0.32% of Assured Guaranty worth $14,364,000 at the end of the most recent reporting period.
A number of other hedge funds have also modified their holdings of AGO. BlackRock Inc. boosted its position in Assured Guaranty by 2,281.9% during the first quarter. BlackRock Inc. now owns 6,309,856 shares of the financial services provider’s stock worth $234,159,000 after purchasing an additional 6,044,950 shares in the last quarter. Kahn Brothers Group Inc. DE boosted its position in Assured Guaranty by 101.7% during the second quarter. Kahn Brothers Group Inc. DE now owns 776,705 shares of the financial services provider’s stock worth $32,420,000 after purchasing an additional 391,575 shares in the last quarter. Denali Advisors LLC purchased a new position in Assured Guaranty during the second quarter worth approximately $12,601,000. Chicago Equity Partners LLC boosted its position in Assured Guaranty by 72.2% during the second quarter. Chicago Equity Partners LLC now owns 671,460 shares of the financial services provider’s stock worth $28,027,000 after purchasing an additional 281,630 shares in the last quarter. Finally, FMR LLC boosted its position in Assured Guaranty by 228.0% during the first quarter. FMR LLC now owns 390,593 shares of the financial services provider’s stock worth $14,495,000 after purchasing an additional 271,501 shares in the last quarter. Institutional investors own 97.01% of the company’s stock.
Several equities analysts have recently weighed in on the company. MKM Partners restated a “buy” rating on shares of Assured Guaranty in a research report on Thursday, October 5th. BidaskClub downgraded Assured Guaranty from a “buy” rating to a “hold” rating in a research report on Monday, July 31st. UBS AG restated a “buy” rating and issued a $47.00 target price (down previously from $49.00) on shares of Assured Guaranty in a research report on Wednesday, October 4th. Finally, BTIG Research restated a “buy” rating and issued a $49.00 target price 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 given a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $47.00.
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Assured Guaranty Ltd. (NYSE AGO) opened at $36.22 on Wednesday. The firm has a market capitalization of $4,288.24, a P/E ratio of 6.47 and a beta of 1.66. Assured Guaranty Ltd. has a 1 year low of $31.73 and a 1 year high of $45.73. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.49 and a quick ratio of 0.49.
Assured Guaranty (NYSE:AGO) last released its earnings results on Thursday, November 2nd. The financial services provider reported $1.29 earnings per share for the quarter, beating the consensus estimate of $0.78 by $0.51. The business had revenue of $623.00 million for the quarter, compared to the consensus estimate of $262.09 million. Assured Guaranty had a return on equity of 10.69% and a net margin of 45.38%. The business’s quarterly revenue was up 10.1% compared to the same quarter last year. During the same quarter last year, the business posted $3.74 earnings per share.
Assured Guaranty announced that its board has approved a stock repurchase plan on Thursday, November 2nd that authorizes the company to repurchase $300.00 million in shares. This repurchase authorization authorizes the financial services provider to reacquire shares of its stock through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its shares are undervalued.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 29th. Investors of record on Wednesday, November 15th will be issued a $0.142 dividend. The ex-dividend date of this dividend is Tuesday, November 14th. This represents a $0.57 annualized dividend and a dividend yield of 1.57%. Assured Guaranty’s dividend payout ratio is presently 8.21%.
Assured Guaranty Company 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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