Thornburg Investment Management Inc. increased its position in Assured Guaranty Ltd. (NYSE:AGO) by 0.3% during the first quarter, Holdings Channel reports. The firm owned 1,150,202 shares of the financial services provider’s stock after buying an additional 3,343 shares during the period. Thornburg Investment Management Inc.’s holdings in Assured Guaranty were worth $42,684,000 as of its most recent SEC filing.
A number of other institutional investors also recently made changes to their positions in the company. Suntrust Banks Inc. boosted its position in shares of Assured Guaranty by 0.4% in the first quarter. Suntrust Banks Inc. now owns 22,140 shares of the financial services provider’s stock worth $821,000 after buying an additional 93 shares during the period. Raymond James Financial Services Advisors Inc. boosted its position in shares of Assured Guaranty by 2.7% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 9,398 shares of the financial services provider’s stock worth $355,000 after buying an additional 247 shares during the period. Schafer Cullen Capital Management Inc. boosted its position in shares of Assured Guaranty by 1.8% in the third quarter. Schafer Cullen Capital Management Inc. now owns 51,222 shares of the financial services provider’s stock worth $1,421,000 after buying an additional 902 shares during the period. Advisors Asset Management Inc. boosted its position in shares of Assured Guaranty by 16.8% in the first quarter. Advisors Asset Management Inc. now owns 7,967 shares of the financial services provider’s stock worth $296,000 after buying an additional 1,147 shares during the period. Finally, ProShare Advisors LLC boosted its position 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. 96.28% of the stock is currently owned by institutional investors and hedge funds.
Shares of Assured Guaranty Ltd. (NYSE:AGO) traded up 0.78% during midday trading on Friday, hitting $38.68. The stock had a trading volume of 729,764 shares. The company’s 50 day moving average is $38.35 and its 200 day moving average is $38.18. The company has a market cap of $4.71 billion, a PE ratio of 4.48 and a beta of 1.82. Assured Guaranty Ltd. has a 52-week low of $23.43 and a 52-week high of $42.94.
Assured Guaranty (NYSE:AGO) last issued its quarterly earnings results on Thursday, February 23rd. The financial services provider reported $1.05 earnings per share for the quarter, topping the consensus estimate of $0.68 by $0.37. Assured Guaranty had a return on equity of 14.00% and a net margin of 56.15%. The firm had revenue of $470 million for the quarter, compared to the consensus estimate of $269.77 million. During the same period in the prior year, the business posted $0.83 earnings per share. On average, analysts anticipate that Assured Guaranty Ltd. will post $4.27 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 31st. Stockholders of record on Wednesday, May 17th will be issued a $0.1425 dividend. The ex-dividend date of this dividend is Monday, May 15th. This represents a $0.57 annualized dividend and a dividend yield of 1.47%. Assured Guaranty’s payout ratio is 6.38%.
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Separately, Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $42.00 price target on shares of Assured Guaranty in a research note on Thursday, April 6th.
In other news, insider Howard Albert sold 12,000 shares of the stock in a transaction that occurred on Wednesday, May 10th. The stock was sold at an average price of $39.19, for a total value of $470,280.00. Following the sale, the insider now directly owns 169,314 shares in the company, valued at $6,635,415.66. The sale was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 2.50% of the company’s stock.
Assured Guaranty Company 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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