Cornerstone Wealth Management LLC purchased a new stake in Assured Guaranty Ltd. (NYSE:AGO) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 9,970 shares of the financial services provider’s stock, valued at approximately $278,000.

A number of other hedge funds also recently made changes to their positions in AGO. Signaturefd LLC acquired a new position in Assured Guaranty in the first quarter worth $124,000. Quantum Capital Management acquired a new position in Assured Guaranty in the first quarter worth $212,000. Point View Wealth Management Inc. acquired a new position in Assured Guaranty in the first quarter worth $231,000. Parametrica Management Ltd acquired a new position in Assured Guaranty in the first quarter worth $290,000. Finally, Blair William & Co. IL acquired a new position in Assured Guaranty in the first quarter worth $326,000.

Assured Guaranty stock opened at $41.25 on Tuesday. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 0.19. The firm has a market capitalization of $4.44 billion, a price-to-earnings ratio of 10.12 and a beta of 1.37. Assured Guaranty Ltd. has a 52 week low of $32.97 and a 52 week high of $44.15.

Assured Guaranty (NYSE:AGO) last posted its quarterly earnings data on Wednesday, August 1st. The financial services provider reported $0.66 EPS for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.08). The business had revenue of $221.00 million during the quarter, compared to analyst estimates of $236.91 million. Assured Guaranty had a return on equity of 7.02% and a net margin of 37.52%. Assured Guaranty’s revenue for the quarter was down 28.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.16 EPS.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, August 29th. Stockholders of record on Wednesday, August 15th will be paid a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 1.55%. The ex-dividend date is Tuesday, August 14th.

In other news, insider Howard Albert sold 13,361 shares of the company’s stock in a transaction on Wednesday, June 13th. The stock was sold at an average price of $37.70, for a total transaction of $503,709.70. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 2.54% of the company’s stock.

AGO has been the topic of a number of recent analyst reports. BTIG Research reissued a “buy” rating and issued a $51.00 price objective on shares of Assured Guaranty in a research note on Sunday, May 6th. ValuEngine lowered Assured Guaranty from a “hold” rating to a “sell” rating in a research note on Friday, June 1st. Finally, Keefe, Bruyette & Woods reissued a “buy” rating and issued a $48.00 price objective on shares of Assured Guaranty in a research note on Friday, August 3rd. One analyst has rated the stock with a sell rating and four have given a buy rating to the company. The company has an average rating of “Buy” and an average price target of $48.67.

Assured Guaranty Profile

Assured Guaranty Ltd., through its subsidiaries, provides credit protection products to public finance, infrastructure, and structured finance markets in the United States and internationally. It offers 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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