Cresset Asset Management LLC cut its position in Assured Guaranty Ltd. (NYSE:AGO - Free Report) by 71.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,164 shares of the financial services provider's stock after selling 8,030 shares during the period. Cresset Asset Management LLC's holdings in Assured Guaranty were worth $285,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other large investors also recently modified their holdings of the company. Proficio Capital Partners LLC purchased a new position in Assured Guaranty in the 4th quarter worth approximately $25,000. EverSource Wealth Advisors LLC increased its stake in Assured Guaranty by 46.3% in the 4th quarter. EverSource Wealth Advisors LLC now owns 471 shares of the financial services provider's stock worth $42,000 after acquiring an additional 149 shares during the last quarter. Venturi Wealth Management LLC raised its holdings 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 raised its holdings 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 purchased a new stake in shares of Assured Guaranty during the 4th quarter worth approximately $97,000. Hedge funds and other institutional investors own 92.22% of the company's stock.
Insider Buying and Selling at Assured Guaranty
In other 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 transaction of $232,476.24. Following the transaction, the chief accounting officer now owns 13,462 shares in the company, valued at approximately $1,181,425.12. This trade represents a 16.44% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. 5.10% of the stock is currently owned by corporate insiders.
Assured Guaranty Price Performance
Shares of AGO traded down $0.16 during mid-day trading on Tuesday, hitting $85.95. 328,880 shares of the stock were exchanged, compared to its average volume of 345,665. The company has a market cap of $4.22 billion, a PE ratio of 6.68 and a beta of 0.82. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.91 and a current ratio of 0.91. The firm has a 50-day moving average of $85.40 and a two-hundred day moving average of $88.53. Assured Guaranty Ltd. has a 52-week low of $72.57 and a 52-week high of $96.50.
Assured Guaranty (NYSE:AGO - Get Free Report) last released 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 firm had revenue of $345.00 million for the quarter, compared to the consensus estimate of $257.96 million. Assured Guaranty had a return on equity of 11.58% and a net margin of 70.37%. During the same quarter in the previous year, the company posted $1.96 EPS. On average, equities analysts predict that Assured Guaranty Ltd. will post 7.3 earnings per share for the current year.
Assured Guaranty Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 30th. Shareholders of record on Friday, May 16th will be given a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 1.58%. The ex-dividend date of this dividend is Friday, May 16th. Assured Guaranty's dividend payout ratio (DPR) is presently 16.25%.
About Assured Guaranty
(
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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