Assured Guaranty Ltd. (AGO) Shares Bought by AMP Capital Investors Ltd
AMP Capital Investors Ltd increased its position in Assured Guaranty Ltd. (NYSE:AGO) by 50.6% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 38,084 shares of the financial services provider’s stock after acquiring an additional 12,800 shares during the quarter. AMP Capital Investors Ltd’s holdings in Assured Guaranty were worth $1,437,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Trexquant Investment LP bought a new position in Assured Guaranty in the 3rd quarter worth about $466,000. Evergreen Capital Management LLC bought a new position in Assured Guaranty in the 3rd quarter worth about $501,000. APG Asset Management N.V. bought a new position in Assured Guaranty in the 3rd quarter worth about $7,716,000. Aperio Group LLC boosted its stake in Assured Guaranty by 6.2% in the 3rd quarter. Aperio Group LLC now owns 736,147 shares of the financial services provider’s stock worth $27,790,000 after purchasing an additional 42,742 shares during the period. Finally, Stevens Capital Management LP bought a new position in Assured Guaranty in the 3rd quarter worth about $2,812,000. 95.84% of the stock is owned by institutional investors.
Several brokerages have commented on AGO. MKM Partners restated a “buy” rating on shares of Assured Guaranty in a research note on Thursday, October 5th. UBS reiterated 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. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Assured Guaranty presently has an average rating of “Buy” and an average target price of $47.00.
Assured Guaranty (NYSE:AGO) last issued its quarterly earnings results on Thursday, November 2nd. The financial services provider reported $1.29 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.78 by $0.51. The firm had revenue of $623.00 million during the quarter, compared to the consensus estimate of $262.09 million. Assured Guaranty had a return on equity of 10.59% and a net margin of 45.38%. The company’s revenue for the quarter was up 10.1% on a year-over-year basis. During the same quarter last year, the company posted $3.74 EPS.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 29th. Stockholders 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 dividend yield of 1.68%. Assured Guaranty’s dividend payout ratio (DPR) is presently 8.21%.
Assured Guaranty announced that its Board of Directors has initiated a share buyback plan on Thursday, November 2nd that allows the company to buyback $300.00 million in shares. This buyback authorization allows the financial services provider to reacquire shares of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is undervalued.
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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