Sei Investments Co. Boosts Holdings in Assured Guaranty Ltd. (AGO)
Sei Investments Co. boosted its position in shares of Assured Guaranty Ltd. (NYSE:AGO) by 5.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 253,698 shares of the financial services provider’s stock after buying an additional 14,205 shares during the period. Sei Investments Co. owned 0.22% of Assured Guaranty worth $9,577,000 at the end of the most recent quarter.
A number of other large investors have also recently bought and sold shares of the business. Bank of Hawaii increased its stake in Assured Guaranty by 1.2% during the 2nd quarter. Bank of Hawaii now owns 15,510 shares of the financial services provider’s stock worth $647,000 after buying an additional 180 shares in the last quarter. ETRADE Capital Management LLC increased its stake in Assured Guaranty by 4.4% during the 2nd 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. Sawtooth Solutions LLC increased its stake in Assured Guaranty by 7.4% during the 2nd quarter. Sawtooth Solutions LLC now owns 7,181 shares of the financial services provider’s stock worth $300,000 after buying an additional 492 shares in the last quarter. Catalyst Capital Advisors LLC increased its stake in Assured Guaranty by 2.0% during the 2nd quarter. Catalyst Capital Advisors LLC now owns 25,400 shares of the financial services provider’s stock worth $1,060,000 after buying an additional 500 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Assured Guaranty by 11.7% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,150 shares of the financial services provider’s stock worth $215,000 after buying an additional 539 shares in the last quarter. Institutional investors own 97.36% of the company’s stock.
Shares of Assured Guaranty Ltd. (NYSE AGO) opened at $37.07 on Tuesday. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.56 and a quick ratio of 0.56. The stock has a market capitalization of $4,297.63, a P/E ratio of 6.49 and a beta of 1.66. Assured Guaranty Ltd. has a 52-week low of $34.67 and a 52-week high of $45.73.
Assured Guaranty (NYSE:AGO) last posted its quarterly earnings results on Thursday, November 2nd. The financial services provider reported $1.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.78 by $0.51. The business had revenue of $623.00 million during the quarter, compared to analyst estimates of $262.09 million. Assured Guaranty had a return on equity of 10.59% and a net margin of 45.38%. The business’s revenue was up 10.1% compared to the same quarter last year. During the same period in the prior year, the business earned $3.74 earnings per share.
Assured Guaranty declared that its board has approved a share repurchase program on Thursday, November 2nd that permits the company to buyback $300.00 million in outstanding shares. This buyback authorization permits the financial services provider to purchase shares of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s leadership believes its shares are undervalued.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 29th. Stockholders of record on Wednesday, November 15th will be given a $0.142 dividend. The ex-dividend date is Tuesday, November 14th. This represents a $0.57 dividend on an annualized basis and a dividend yield of 1.53%. Assured Guaranty’s dividend payout ratio (DPR) is presently 8.21%.
Several equities research analysts have commented on the company. BidaskClub lowered Assured Guaranty from a “buy” rating to a “hold” rating in a research note on Monday, July 31st. UBS AG reiterated a “buy” rating and set a $47.00 price objective (down from $49.00) on shares of Assured Guaranty in a research note on Wednesday, October 4th. Finally, MKM Partners reiterated a “buy” rating on shares of Assured Guaranty in a research note on Thursday, October 5th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $47.00.
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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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