Kahn Brothers Group Inc. lessened its holdings in shares of Assured Guaranty Ltd. (NYSE:AGO - Free Report) by 3.2% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 285,573 shares of the financial services provider's stock after selling 9,412 shares during the period. Assured Guaranty accounts for 5.5% of Kahn Brothers Group Inc.'s portfolio, making the stock its 8th largest position. Kahn Brothers Group Inc. owned 0.56% of Assured Guaranty worth $25,704,000 as of its most recent SEC filing.
A number of other institutional investors have also recently bought and sold shares of AGO. Proficio Capital Partners LLC bought a new stake in shares of Assured Guaranty in the 4th quarter valued at about $25,000. EverSource Wealth Advisors LLC grew its position in shares of 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 in the last quarter. Venturi Wealth Management LLC boosted its position in shares of 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 acquiring an additional 343 shares in the last quarter. Covestor Ltd boosted its position in shares of 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 acquiring an additional 424 shares in the last quarter. Finally, Heck Capital Advisors LLC acquired a new stake in shares of Assured Guaranty during the 4th quarter worth approximately $97,000. Institutional investors and hedge funds own 92.22% of the company's stock.
Assured Guaranty Price Performance
NYSE:AGO traded down $1.50 on Wednesday, hitting $86.19. The company had a trading volume of 400,659 shares, compared to its average volume of 345,023. The firm has a 50 day moving average of $85.21 and a two-hundred day moving average of $88.44. The stock has a market capitalization of $4.30 billion, a price-to-earnings ratio of 6.70 and a beta of 0.82. Assured Guaranty Ltd. has a 52 week low of $72.57 and a 52 week high of $96.50. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.29.
Assured Guaranty (NYSE:AGO - Get Free Report) last posted its quarterly 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. Assured Guaranty had a net margin of 70.37% and a return on equity of 11.58%. The firm had revenue of $345.00 million during the quarter, compared to the consensus estimate of $257.96 million. During the same period in the previous year, the firm posted $1.96 earnings per share. On average, research analysts anticipate that Assured Guaranty Ltd. will post 7.3 earnings per share for the current year.
Assured Guaranty Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Friday, May 30th. Stockholders of record on Friday, May 16th will be given a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.58%. The ex-dividend date is Friday, May 16th. Assured Guaranty's dividend payout ratio is currently 16.25%.
Insider Activity
In related news, CAO Laura Bieling sold 2,649 shares of the firm's stock in a transaction that occurred 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 completion of the transaction, the chief accounting officer now directly 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 5.10% of the company's stock.
Assured Guaranty Profile
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Free Report)
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.
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