Natixis Invests $3.99 Million in Assured Guaranty Ltd. (NYSE:AGO)
Natixis purchased a new position in Assured Guaranty Ltd. (NYSE:AGO) in the second quarter, HoldingsChannel reports. The firm purchased 94,783 shares of the financial services provider’s stock, valued at approximately $3,988,000.
Several other large investors also recently modified their holdings of AGO. Steward Partners Investment Advisory LLC acquired a new stake in shares of Assured Guaranty in the 2nd quarter worth approximately $32,000. Rockefeller Capital Management L.P. lifted its stake in shares of Assured Guaranty by 1,700.0% in the 2nd quarter. Rockefeller Capital Management L.P. now owns 936 shares of the financial services provider’s stock worth $39,000 after acquiring an additional 884 shares during the period. Icon Wealth Partners LLC bought a new stake in shares of Assured Guaranty in the 1st quarter worth approximately $53,000. Signaturefd LLC raised its holdings in shares of Assured Guaranty by 13.3% in the 2nd quarter. Signaturefd LLC now owns 5,989 shares of the financial services provider’s stock worth $252,000 after purchasing an additional 703 shares in the last quarter. Finally, AGF Investments LLC raised its holdings in shares of Assured Guaranty by 39.8% in the 2nd quarter. AGF Investments LLC now owns 7,380 shares of the financial services provider’s stock worth $311,000 after purchasing an additional 2,100 shares in the last quarter. 98.32% of the stock is owned by institutional investors.
In other news, insider Howard Albert sold 14,058 shares of the business’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $44.27, for a total transaction of $622,347.66. Following the sale, the insider now owns 191,143 shares in the company, valued at $8,461,900.61. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Dominic Frederico sold 30,300 shares of the business’s stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $43.70, for a total transaction of $1,324,110.00. Following the sale, the chief executive officer now owns 1,300,031 shares in the company, valued at approximately $56,811,354.70. The disclosure for this sale can be found here. 2.81% of the stock is owned by insiders.
Assured Guaranty (NYSE:AGO) last released its quarterly earnings results on Wednesday, August 7th. The financial services provider reported $1.38 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.76 by $0.62. Assured Guaranty had a net margin of 46.89% and a return on equity of 7.24%. The business had revenue of $266.00 million for the quarter, compared to analyst estimates of $222.39 million. During the same quarter in the previous year, the business earned $0.66 earnings per share. The firm’s revenue was up 20.9% compared to the same quarter last year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, September 4th. Stockholders of record on Wednesday, August 21st were issued a dividend of $0.18 per share. The ex-dividend date was Tuesday, August 20th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.59%.
A number of analysts recently commented on the stock. UBS Group boosted their target price on shares of Assured Guaranty from $47.00 to $50.00 and gave the stock a “buy” rating in a report on Monday, August 19th. ValuEngine downgraded shares of Assured Guaranty from a “hold” rating to a “sell” rating in a report on Thursday, August 1st. Finally, BTIG Research reiterated a “buy” rating and issued a $52.00 target price on shares of Assured Guaranty in a report on Sunday, August 11th.
About Assured Guaranty
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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