Lazard Asset Management LLC Raises Stake in Assured Guaranty Ltd. (NYSE:AGO)

Lazard Asset Management LLC boosted its holdings in shares of Assured Guaranty Ltd. (NYSE:AGO) by 5.8% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 18,738 shares of the financial services provider’s stock after purchasing an additional 1,021 shares during the period. Lazard Asset Management LLC’s holdings in Assured Guaranty were worth $1,685,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Proficio Capital Partners LLC purchased a new position in Assured Guaranty during the 4th quarter worth $25,000. EverSource Wealth Advisors LLC grew its position in Assured Guaranty by 46.3% during the 4th quarter. EverSource Wealth Advisors LLC now owns 471 shares of the financial services provider’s stock worth $42,000 after purchasing an additional 149 shares during the last quarter. Venturi Wealth Management LLC grew its position in Assured Guaranty by 100.6% during the 4th quarter. Venturi Wealth Management LLC now owns 684 shares of the financial services provider’s stock worth $62,000 after purchasing an additional 343 shares during the last quarter. Covestor Ltd grew its position in Assured Guaranty by 108.2% during the 4th quarter. Covestor Ltd now owns 816 shares of the financial services provider’s stock worth $73,000 after purchasing an additional 424 shares during the last quarter. Finally, Heck Capital Advisors LLC purchased a new position in Assured Guaranty during the 4th quarter worth $97,000. 92.22% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Assured Guaranty news, CAO Laura Bieling sold 2,649 shares of the firm’s stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $87.76, for a total value of $232,476.24. Following the completion of the sale, the chief accounting officer now owns 13,462 shares of the company’s stock, valued at approximately $1,181,425.12. This trade represents a 16.44% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 5.10% of the company’s stock.

Assured Guaranty Stock Down 0.2%

Shares of NYSE:AGO opened at $86.37 on Monday. The company has a market cap of $4.24 billion, a price-to-earnings ratio of 6.71 and a beta of 0.82. The firm’s 50-day simple moving average is $85.36 and its 200-day simple moving average is $88.50. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.29. Assured Guaranty Ltd. has a fifty-two week low of $72.57 and a fifty-two week high of $96.50.

Assured Guaranty (NYSE:AGO) last issued its earnings results on Thursday, May 8th. The financial services provider reported $3.18 earnings per share 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 the consensus estimate of $257.96 million. Assured Guaranty had a net margin of 70.37% and a return on equity of 11.58%. During the same quarter in the previous year, the firm earned $1.96 earnings per share. As a group, equities research analysts predict that Assured Guaranty Ltd. will post 7.3 earnings per share for the current year.

Assured Guaranty Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, May 30th. Stockholders of record on Friday, May 16th will be issued a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 1.57%. The ex-dividend date is Friday, May 16th. Assured Guaranty’s payout ratio is 16.25%.

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.