Amalgamated Bank reduced its stake in shares of Assured Guaranty Ltd. (NYSE:AGO – Get Rating) by 4.8% during the 1st quarter, HoldingsChannel reports. The firm owned 34,609 shares of the financial services provider's stock after selling 1,745 shares during the quarter. Amalgamated Bank's holdings in Assured Guaranty were worth $2,203,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also made changes to their positions in the stock. Eaton Vance Management boosted its holdings in shares of Assured Guaranty by 2.1% during the 1st quarter. Eaton Vance Management now owns 10,252 shares of the financial services provider's stock worth $653,000 after purchasing an additional 206 shares during the last quarter. CWM LLC raised its position in shares of Assured Guaranty by 255.3% during the 1st quarter. CWM LLC now owns 405 shares of the financial services provider's stock valued at $26,000 after buying an additional 291 shares during the period. Hancock Whitney Corp raised its position in shares of Assured Guaranty by 1.2% during the 1st quarter. Hancock Whitney Corp now owns 26,100 shares of the financial services provider's stock valued at $1,662,000 after buying an additional 314 shares during the period. Brinker Capital Investments LLC raised its position in shares of Assured Guaranty by 4.0% during the 1st quarter. Brinker Capital Investments LLC now owns 9,976 shares of the financial services provider's stock valued at $635,000 after buying an additional 383 shares during the period. Finally, Treasurer of the State of North Carolina raised its position in shares of Assured Guaranty by 1.6% during the 1st quarter. Treasurer of the State of North Carolina now owns 24,814 shares of the financial services provider's stock valued at $1,580,000 after buying an additional 393 shares during the period. 92.30% of the stock is currently owned by institutional investors and hedge funds.
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Insider Buying and Selling at Assured Guaranty
In other Assured Guaranty news, CEO Dominic Frederico sold 86,000 shares of the business's stock in a transaction that occurred on Monday, June 27th. The stock was sold at an average price of $57.21, for a total value of $4,920,060.00. Following the sale, the chief executive officer now owns 1,278,541 shares of the company's stock, valued at $73,145,330.61. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 3.82% of the stock is owned by corporate insiders.
Assured Guaranty Stock Down 3.2 %
Shares of NYSE AGO opened at $48.20 on Friday. The firm has a market cap of $2.99 billion, a price-to-earnings ratio of 11.48 and a beta of 1.07. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 0.30. Assured Guaranty Ltd. has a 52-week low of $44.94 and a 52-week high of $65.68. The business's 50 day moving average is $54.02 and its two-hundred day moving average is $56.67.
Assured Guaranty (NYSE:AGO – Get Rating) last announced its earnings results on Wednesday, August 3rd. The financial services provider reported $0.46 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.77 by ($0.31). Assured Guaranty had a net margin of 34.57% and a return on equity of 7.00%.
Assured Guaranty Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Wednesday, August 31st. Shareholders of record on Wednesday, August 17th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 2.07%. The ex-dividend date of this dividend was Tuesday, August 16th. Assured Guaranty's payout ratio is 23.81%.
Analysts Set New Price Targets
Several analysts have recently commented on AGO shares. StockNews.com lowered shares of Assured Guaranty from a "hold" rating to a "sell" rating in a research report on Friday, August 5th. TheStreet lowered shares of Assured Guaranty from a "b" rating to a "c+" rating in a research report on Wednesday, July 13th.
About Assured Guaranty
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Assured Guaranty Ltd., through its subsidiaries, provides credit protection products to public finance, infrastructure, and structured finance markets in the United States and internationally. The company operates in two segments, Insurance and Asset Management. It offers financial guaranty insurance that protects holders of debt instruments and other monetary obligations from defaults in scheduled payments.
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