7,302 Assured Guaranty Ltd. $AGO Shares Sold by State of Alaska Department of Revenue

State of Alaska Department of Revenue reduced its holdings in shares of Assured Guaranty Ltd. (NYSE:AGO – Free Report) by 46.0% in the 3rd quarter, Holdings Channel.com reports. The fund owned 8,579 shares of the financial services provider’s stock after selling 7,302 shares during the period. State of Alaska Department of Revenue’s holdings in Assured Guaranty were worth $580,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. BlackRock Inc. acquired a new stake in shares of Assured Guaranty in the second quarter valued at approximately $463,926,000. Quantinno Capital Management LP boosted its holdings in Assured Guaranty by 32.9% during the first quarter. Quantinno Capital Management LP now owns 499,347 shares of the financial services provider’s stock worth $40,687,000 after purchasing an additional 123,672 shares during the last quarter. Bank of America Corp DE acquired a new position in Assured Guaranty during the second quarter worth $30,108,000. Bank of New York Mellon Corp acquired a new position in Assured Guaranty during the second quarter worth $23,025,000. Finally, Man Group plc acquired a new position in Assured Guaranty during the second quarter worth $13,439,000. 92.22% of the stock is currently owned by institutional investors and hedge funds.

Assured Guaranty Stock Down 1.4%

Shares of NYSE:AGO traded down $0.95 during trading on Friday, hitting $69.36. 346,887 shares of the company were exchanged, compared to its average volume of 417,613. The stock has a market cap of $3.05 billion, a price-to-earnings ratio of 9.25 and a beta of 0.73. Assured Guaranty Ltd. has a fifty-two week low of $67.24 and a fifty-two week high of $92.39. The firm has a fifty day moving average price of $71.78 and a two-hundred day moving average price of $77.12. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 0.31.

Assured Guaranty (NYSE:AGO – Get Free Report) last announced its quarterly earnings data on Tuesday, June 30th. The financial services provider reported $1.23 earnings per share (EPS) for the quarter. The company had revenue of $195.00 million for the quarter. Assured Guaranty had a return on equity of 7.11% and a net margin of 37.34%. As a group, research analysts anticipate that Assured Guaranty Ltd. will post 6.91 earnings per share for the current fiscal year.

Assured Guaranty Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, September 3rd. Investors of record on Thursday, August 20th were paid a $0.38 dividend. The ex-dividend date of this dividend was Thursday, August 20th. This represents a $1.52 annualized dividend and a dividend yield of 2.2%. Assured Guaranty’s dividend payout ratio (DPR) is currently 20.27%.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on AGO shares. UBS Group set a $91.00 target price on shares of Assured Guaranty in a research report on Monday, September 14th. Weiss Ratings cut shares of Assured Guaranty from a “hold (c+)” rating to a “hold (c)” rating in a research report on Wednesday, September 9th. Wall Street Zen upgraded shares of Assured Guaranty from a “sell” rating to a “hold” rating in a research note on Sunday, August 16th. Roth Capital upgraded shares of Assured Guaranty from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $80.00 to $85.00 in a research note on Friday, September 25th. Finally, Keefe, Bruyette & Woods decreased their price objective on Assured Guaranty from $101.00 to $97.00 and set an “outperform” rating for the company in a report on Thursday, August 13th. Three analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $91.00.

Get Our Latest Stock Report on AGO

Assured Guaranty Profile

(Free Report)

Assured Guaranty Ltd. (NYSE: AGO) is a Bermuda-based financial services company that provides credit protection products through its operating insurance subsidiaries. The company’s core business is financial guaranty insurance, which generally guarantees the payment of scheduled principal and interest on debt obligations if the issuer or borrower defaults.

Assured Guaranty primarily serves the public finance and infrastructure markets. Its guarantees support municipal bonds and other public-sector debt, as well as obligations related to transportation, utilities, social infrastructure and other essential-service projects.

Further Reading

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Institutional Ownership by Quarter for Assured Guaranty (NYSE:AGO)

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