Mackenzie Financial Corp Has $15.22 Million Stake in Assured Guaranty Ltd. (AGO)
Mackenzie Financial Corp grew its position in Assured Guaranty Ltd. (NYSE:AGO) by 12.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 403,130 shares of the financial services provider’s stock after purchasing an additional 46,030 shares during the period. Mackenzie Financial Corp owned about 0.34% of Assured Guaranty worth $15,218,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently bought and sold shares of AGO. Bank of Hawaii grew its position in Assured Guaranty by 1.2% during the second quarter. Bank of Hawaii now owns 15,510 shares of the financial services provider’s stock valued at $647,000 after buying an additional 180 shares during the period. ETRADE Capital Management LLC grew its position in 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 valued at $480,000 after buying an additional 485 shares during the period. Sawtooth Solutions LLC grew its position in Assured Guaranty by 7.4% during the second quarter. Sawtooth Solutions LLC now owns 7,181 shares of the financial services provider’s stock valued at $300,000 after buying an additional 492 shares during the period. Catalyst Capital Advisors LLC grew its position in Assured Guaranty by 2.0% during the second quarter. Catalyst Capital Advisors LLC now owns 25,400 shares of the financial services provider’s stock valued at $1,060,000 after buying an additional 500 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position in 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 period. Institutional investors own 95.87% of the company’s stock.
Assured Guaranty Ltd. (NYSE:AGO) opened at $35.29 on Thursday. The firm has a market cap of $4,168.44, a PE ratio of 6.29 and a beta of 1.64. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 0.19. Assured Guaranty Ltd. has a 1 year low of $35.25 and a 1 year high of $45.73.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 29th. Shareholders of record on Wednesday, November 15th were given a dividend of $0.142 per share. The ex-dividend date of this dividend was Tuesday, November 14th. This represents a $0.57 dividend on an annualized basis and a yield of 1.61%. Assured Guaranty’s dividend payout ratio is presently 8.21%.
Assured Guaranty declared that its Board of Directors has authorized a share repurchase program on Thursday, November 2nd that allows the company to buyback $300.00 million in shares. This buyback authorization allows the financial services provider to buy shares of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.
Several research firms recently weighed in on AGO. UBS restated a “buy” rating and set a $47.00 price target (down previously from $49.00) on shares of Assured Guaranty in a research report on Wednesday, October 4th. MKM Partners restated a “buy” rating on shares of Assured Guaranty in a research report on Thursday, October 5th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $47.00.
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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