Raymond James Financial Services Advisors Inc. held its stake in Assured Guaranty Ltd. (NYSE:AGO) during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,898 shares of the financial services provider’s stock at the end of the 2nd quarter. Raymond James Financial Services Advisors Inc.’s holdings in Assured Guaranty were worth $413,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds have also made changes to their positions in AGO. Bank of Hawaii lifted its position in Assured Guaranty by 1.2% during the second quarter. Bank of Hawaii now owns 15,510 shares of the financial services provider’s stock valued at $647,000 after buying an additional 180 shares during the period. ETRADE Capital Management LLC lifted its position in Assured Guaranty by 4.4% during the second quarter. ETRADE Capital Management LLC now owns 11,509 shares of the financial services provider’s stock valued at $480,000 after buying an additional 485 shares during the period. Sawtooth Solutions LLC lifted its position in Assured Guaranty by 7.4% during the second quarter. Sawtooth Solutions LLC now owns 7,181 shares of the financial services provider’s stock valued at $300,000 after buying an additional 492 shares during the period. Catalyst Capital Advisors LLC lifted its position in Assured Guaranty by 2.0% during the second quarter. Catalyst Capital Advisors LLC now owns 25,400 shares of the financial services provider’s stock valued at $1,060,000 after buying an additional 500 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Assured Guaranty by 11.7% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,150 shares of the financial services provider’s stock valued at $215,000 after buying an additional 539 shares during the period. 97.01% of the stock is owned by institutional investors.
AGO has been the subject of several recent research reports. BTIG Research reissued a “buy” rating and set a $49.00 price objective on shares of Assured Guaranty in a research report on Friday, July 14th. MKM Partners reissued a “buy” rating on shares of Assured Guaranty in a research report on Thursday, October 5th. UBS AG reissued a “buy” rating and set a $47.00 price objective (down previously from $49.00) on shares of Assured Guaranty in a research report on Wednesday, October 4th. Finally, BidaskClub lowered Assured Guaranty from a “buy” rating to a “hold” rating in a research report on Monday, July 31st. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $47.00.
Assured Guaranty Ltd. (AGO) opened at $37.29 on Monday. Assured Guaranty Ltd. has a twelve month low of $30.38 and a twelve month high of $45.73. The company has a current ratio of 0.49, a quick ratio of 0.49 and a debt-to-equity ratio of 0.19. The firm has a market capitalization of $4,379.85, a price-to-earnings ratio of 6.61 and a beta of 1.66.
Assured Guaranty (NYSE:AGO) last issued its quarterly earnings results on Thursday, November 2nd. The financial services provider reported $1.29 earnings per share for the quarter, beating the consensus estimate of $0.78 by $0.51. Assured Guaranty had a return on equity of 10.69% and a net margin of 45.38%. The firm had revenue of $623.00 million during the quarter, compared to the consensus estimate of $262.09 million. During the same period last year, the company earned $3.74 earnings per share. The company’s revenue was up 10.1% on a year-over-year basis.
Assured Guaranty declared that its Board of Directors has authorized a stock repurchase plan on Thursday, November 2nd that authorizes the company to buyback $300.00 million in shares. This buyback authorization authorizes the financial services provider to repurchase shares of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 29th. Stockholders of record on Wednesday, November 15th will be issued a dividend of $0.142 per share. The ex-dividend date is Tuesday, November 14th. This represents a $0.57 annualized dividend and a dividend yield of 1.52%. Assured Guaranty’s payout ratio is presently 8.21%.
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Assured Guaranty Profile
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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