Assured Guaranty Ltd. (NYSE:AGO) Shares Sold by State of Alaska Department of Revenue

State of Alaska Department of Revenue reduced its position in Assured Guaranty Ltd. (NYSE:AGO) by 1.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 45,500 shares of the financial services provider’s stock after selling 693 shares during the period. State of Alaska Department of Revenue’s holdings in Assured Guaranty were worth $4,007,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of AGO. Harbor Capital Advisors Inc. lifted its position in Assured Guaranty by 22.7% during the 1st quarter. Harbor Capital Advisors Inc. now owns 103,589 shares of the financial services provider’s stock worth $9,126,000 after acquiring an additional 19,194 shares in the last quarter. Farther Finance Advisors LLC raised its position in shares of Assured Guaranty by 554.2% in the 1st quarter. Farther Finance Advisors LLC now owns 1,544 shares of the financial services provider’s stock valued at $136,000 after purchasing an additional 1,308 shares in the last quarter. Reinhart Partners LLC. raised its position in shares of Assured Guaranty by 12.8% in the 1st quarter. Reinhart Partners LLC. now owns 1,134,810 shares of the financial services provider’s stock valued at $99,977,000 after purchasing an additional 129,026 shares in the last quarter. Procyon Advisors LLC raised its position in shares of Assured Guaranty by 12.9% in the 1st quarter. Procyon Advisors LLC now owns 3,068 shares of the financial services provider’s stock valued at $270,000 after purchasing an additional 351 shares in the last quarter. Finally, Vest Financial LLC acquired a new position in shares of Assured Guaranty in the 1st quarter valued at approximately $3,433,000. 92.22% of the stock is owned by institutional investors and hedge funds.

Assured Guaranty Stock Performance

Shares of AGO opened at $86.27 on Friday. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.30. The firm has a market cap of $4.24 billion, a price-to-earnings ratio of 10.31 and a beta of 0.83. Assured Guaranty Ltd. has a 52-week low of $72.57 and a 52-week high of $96.50. The business’s 50 day moving average is $85.54 and its two-hundred day moving average is $87.60.

Assured Guaranty (NYSE:AGO) last posted its quarterly earnings results on Thursday, May 8th. The financial services provider reported $3.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.15 by $0.03. The business had revenue of $345.00 million for the quarter, compared to analyst estimates of $257.96 million. Assured Guaranty had a return on equity of 7.76% and a net margin of 45.58%. During the same period in the prior year, the company posted $1.96 EPS. Analysts forecast that Assured Guaranty Ltd. will post 7.3 EPS for the current fiscal year.

Assured Guaranty Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, May 30th. Shareholders of record on Friday, May 16th were given a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 1.58%. The ex-dividend date was Friday, May 16th. Assured Guaranty’s dividend payout ratio is presently 16.25%.

Insiders Place Their Bets

In other news, CEO Dominic Frederico sold 10,438 shares of the firm’s stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $86.13, for a total transaction of $899,024.94. Following the transaction, the chief executive officer now directly owns 1,337,635 shares of the company’s stock, valued at approximately $115,210,502.55. This trade represents a 0.77% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Laura Bieling sold 2,649 shares of the firm’s stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $87.76, for a total value of $232,476.24. Following the transaction, the chief accounting officer now directly owns 13,462 shares in the company, valued at $1,181,425.12. This trade represents a 16.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 85,004 shares of company stock valued at $7,324,274 over the last three months. Company insiders own 5.10% of the company’s stock.

Assured Guaranty Profile

Assured Guaranty Ltd., together with its subsidiaries, provides credit protection products to public finance, infrastructure, and structured finance markets in the United States and internationally. It operates through two segments: Insurance and Asset Management. The company offers financial guaranty insurance that protects holders of debt instruments and other monetary obligations from defaults in scheduled payments.