Bank of New York Mellon Corp trimmed its holdings in shares of Assured Guaranty Ltd. (NYSE:AGO) by 1.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 507,610 shares of the financial services provider’s stock after selling 8,819 shares during the period. Bank of New York Mellon Corp owned about 0.43% of Assured Guaranty worth $19,162,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the business. Tower Research Capital LLC TRC lifted its position in shares of Assured Guaranty by 962.5% during the second quarter. Tower Research Capital LLC TRC now owns 4,250 shares of the financial services provider’s stock worth $177,000 after purchasing an additional 3,850 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of 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 worth $215,000 after purchasing an additional 539 shares in the last quarter. Quantum Capital Management acquired a new position in shares of Assured Guaranty during the second quarter worth $218,000. FineMark National Bank & Trust acquired a new position in shares of Assured Guaranty during the third quarter worth $259,000. Finally, Zweig DiMenna Associates LLC acquired a new position in shares of Assured Guaranty during the second quarter worth $288,000. 95.87% of the stock is currently owned by hedge funds and other institutional investors.

Assured Guaranty Ltd. (NYSE AGO) opened at $34.33 on Friday. Assured Guaranty Ltd. has a 12-month low of $33.78 and a 12-month high of $45.73. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.56 and a current ratio of 0.56. The company has a market cap of $4,032.20, a price-to-earnings ratio of 6.09 and a beta of 1.64.

Assured Guaranty (NYSE:AGO) last posted its earnings results on Thursday, November 2nd. The financial services provider reported $1.29 EPS for the quarter, topping analysts’ consensus estimates of $0.78 by $0.51. Assured Guaranty had a net margin of 45.38% and a return on equity of 10.59%. The business had revenue of $623.00 million for the quarter, compared to analysts’ expectations of $262.09 million. During the same period in the previous year, the company posted $3.74 earnings per share. The business’s revenue for the quarter was up 10.1% compared to the same quarter last year.

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 29th. Investors of record on Wednesday, November 15th were paid a $0.142 dividend. The ex-dividend date was Tuesday, November 14th. This represents a $0.57 dividend on an annualized basis and a dividend yield of 1.65%. Assured Guaranty’s dividend payout ratio (DPR) is presently 8.21%.

Assured Guaranty announced that its Board of Directors has initiated a share repurchase program on Thursday, November 2nd that authorizes the company to repurchase $300.00 million in shares. This repurchase authorization authorizes the financial services provider to buy shares of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management believes its shares are undervalued.

A number of research analysts have recently commented on AGO shares. MKM Partners reissued a “buy” rating on shares of Assured Guaranty in a research report on Thursday, October 5th. UBS reissued a “buy” rating and set a $47.00 target price (down from $49.00) on shares of Assured Guaranty in a research report on Wednesday, October 4th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $47.00.

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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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Institutional Ownership by Quarter for Assured Guaranty (NYSE:AGO)

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