James Investment Research Inc. boosted its stake in Assured Guaranty Ltd. (NYSE:AGO) by 380.9% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 51,048 shares of the financial services provider’s stock after buying an additional 40,433 shares during the period. James Investment Research Inc.’s holdings in Assured Guaranty were worth $2,130,000 at the end of the most recent quarter.
Several other hedge funds also recently made changes to their positions in the stock. Bowling Portfolio Management LLC acquired a new stake in shares of Assured Guaranty during the first quarter worth $2,268,000. Canada Pension Plan Investment Board boosted its stake in shares of Assured Guaranty by 67.6% in the first quarter. Canada Pension Plan Investment Board now owns 17,100 shares of the financial services provider’s stock worth $635,000 after buying an additional 6,900 shares during the period. Glen Harbor Capital Management LLC boosted its stake in shares of Assured Guaranty by 161.2% in the first quarter. Glen Harbor Capital Management LLC now owns 164,492 shares of the financial services provider’s stock worth $6,104,000 after buying an additional 101,524 shares during the period. ProShare Advisors LLC boosted its stake in shares of Assured Guaranty by 7.6% in the first quarter. ProShare Advisors LLC now owns 19,221 shares of the financial services provider’s stock worth $713,000 after buying an additional 1,352 shares during the period. Finally, Quantitative Systematic Strategies LLC raised its position in shares of Assured Guaranty by 56.6% in the first quarter. Quantitative Systematic Strategies LLC now owns 46,354 shares of the financial services provider’s stock worth $1,720,000 after buying an additional 16,757 shares in the last quarter. 99.31% of the stock is owned by institutional investors.
Assured Guaranty Ltd. (AGO) traded up 0.23% during midday trading on Friday, reaching $43.57. 666,918 shares of the company’s stock were exchanged. Assured Guaranty Ltd. has a 1-year low of $26.37 and a 1-year high of $45.73. The stock has a market cap of $5.19 billion, a P/E ratio of 4.90 and a beta of 1.68. The firm’s 50-day moving average is $43.76 and its 200 day moving average is $40.54.
Assured Guaranty (NYSE:AGO) last announced its earnings results on Wednesday, August 2nd. The financial services provider reported $1.16 EPS for the quarter, beating analysts’ consensus estimates of $0.72 by $0.44. The company had revenue of $308 million during the quarter, compared to the consensus estimate of $288.15 million. Assured Guaranty had a return on equity of 16.00% and a net margin of 61.25%. The firm’s revenue for the quarter was down 22.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.03 earnings per share. Equities analysts anticipate that Assured Guaranty Ltd. will post $4.44 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, August 30th. Investors of record on Wednesday, August 16th will be paid a $0.142 dividend. The ex-dividend date is Monday, August 14th. This represents a $0.57 annualized dividend and a yield of 1.30%. Assured Guaranty’s payout ratio is 6.46%.
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AGO has been the topic of a number of recent analyst reports. BidaskClub upgraded shares of Assured Guaranty from a “hold” rating to a “buy” rating in a research note on Saturday, June 17th. BTIG Research reiterated a “buy” rating and set a $49.00 price objective on shares of Assured Guaranty in a research note on Friday, July 14th. Keefe, Bruyette & Woods restated a “hold” rating and issued a $42.00 target price on shares of Assured Guaranty in a research report on Tuesday, July 4th. Finally, UBS AG restated a “buy” rating and issued a $45.00 target price (up previously from $44.00) on shares of Assured Guaranty in a research report on Wednesday, May 17th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $46.50.
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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