V Wealth Management LLC purchased a new position in Assured Guaranty Ltd. (NYSE:AGO) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 10,413 shares of the financial services provider’s stock, valued at approximately $435,000.
Several other institutional investors have also modified their holdings of the company. Comerica Bank raised its position in shares of Assured Guaranty by 18.7% in the fourth quarter. Comerica Bank now owns 14,966 shares of the financial services provider’s stock worth $587,000 after buying an additional 2,363 shares during the period. Renaissance Technologies LLC raised its position in shares of Assured Guaranty by 28.5% in the fourth quarter. Renaissance Technologies LLC now owns 237,300 shares of the financial services provider’s stock worth $8,963,000 after buying an additional 52,600 shares during the period. Norges Bank purchased a new position in shares of Assured Guaranty during the fourth quarter worth $54,892,000. Quadrature Capital Ltd purchased a new position in shares of Assured Guaranty during the fourth quarter worth $593,000. Finally, UBS Asset Management Americas Inc. increased its position in shares of Assured Guaranty by 171.2% in the fourth quarter. UBS Asset Management Americas Inc. now owns 665,552 shares of the financial services provider’s stock worth $25,138,000 after buying an additional 420,147 shares in the last quarter. Institutional investors own 99.31% of the company’s stock.
Assured Guaranty Ltd. (AGO) opened at 43.57 on Friday. The firm has a market capitalization of $5.19 billion, a PE ratio of 4.90 and a beta of 1.68. Assured Guaranty Ltd. has a one year low of $26.37 and a one year high of $45.73. The stock’s 50 day moving average is $43.76 and its 200-day moving average is $40.54.
Assured Guaranty (NYSE:AGO) last issued its quarterly earnings results on Wednesday, August 2nd. The financial services provider reported $1.16 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.72 by $0.44. Assured Guaranty had a net margin of 61.25% and a return on equity of 16.00%. The company had revenue of $308 million for the quarter, compared to the consensus estimate of $288.15 million. During the same quarter in the prior year, the company earned $1.03 EPS. Assured Guaranty’s quarterly revenue was down 22.2% on a year-over-year basis. On average, analysts anticipate that Assured Guaranty Ltd. will post $4.44 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 30th. Investors of record on Wednesday, August 16th will be issued 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 dividend payout ratio (DPR) is presently 6.46%.
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A number of brokerages recently weighed in on AGO. BidaskClub downgraded shares of Assured Guaranty from a “buy” rating to a “hold” rating in a research note on Monday, July 31st. BTIG Research reissued a “buy” rating and set a $49.00 target price on shares of Assured Guaranty in a research note on Friday, July 14th. Keefe, Bruyette & Woods reissued a “hold” rating and set a $42.00 target price on shares of Assured Guaranty in a research note on Tuesday, July 4th. Finally, UBS AG reaffirmed a “buy” rating and issued a $45.00 price target (up from $44.00) on shares of Assured Guaranty in a research note on Wednesday, May 17th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock presently has an average 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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