Cresset Asset Management LLC reduced its stake in shares of Assured Guaranty Ltd. (NYSE:AGO - Free Report) by 71.7% in the 4th quarter, according to its most recent Form 13F filing 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 quarter. Cresset Asset Management LLC's holdings in Assured Guaranty were worth $285,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Barclays PLC increased its position in shares of Assured Guaranty by 214.0% during the 3rd quarter. Barclays PLC now owns 24,879 shares of the financial services provider's stock worth $1,980,000 after purchasing an additional 16,956 shares in the last quarter. Allianz Asset Management GmbH grew its position in Assured Guaranty by 10.2% during the 4th quarter. Allianz Asset Management GmbH now owns 719,249 shares of the financial services provider's stock worth $64,740,000 after acquiring an additional 66,487 shares during the last quarter. Merit Financial Group LLC acquired a new stake in Assured Guaranty during the 4th quarter valued at $250,000. First Eagle Investment Management LLC bought a new position in Assured Guaranty in the 4th quarter valued at $2,367,000. Finally, Envestnet Asset Management Inc. raised its position in Assured Guaranty by 9.8% in the 4th quarter. Envestnet Asset Management Inc. now owns 74,039 shares of the financial services provider's stock valued at $6,664,000 after purchasing an additional 6,581 shares during the last quarter. 92.22% of the stock is owned by institutional investors.
Insider Buying and Selling at Assured Guaranty
In other news, CAO Laura Bieling sold 2,649 shares of Assured Guaranty stock in a transaction dated 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 $1,181,425.12. The trade was a 16.44% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Dominic Frederico sold 71,917 shares of the stock in a transaction that occurred on Monday, May 19th. The stock was sold at an average price of $86.11, for a total value of $6,192,772.87. Following the sale, the chief executive officer now directly owns 1,348,073 shares of the company's stock, valued at approximately $116,082,566.03. The trade was a 5.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 85,004 shares of company stock worth $7,324,274. Insiders own 5.10% of the company's stock.
Assured Guaranty Price Performance
Shares of NYSE:AGO traded down $0.51 during midday trading on Thursday, reaching $83.49. The company's stock had a trading volume of 26,437 shares, compared to its average volume of 344,520. The business's fifty day simple moving average is $85.40 and its 200-day simple moving average is $88.48. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.91 and a quick ratio of 0.91. Assured Guaranty Ltd. has a fifty-two week low of $72.57 and a fifty-two week high of $96.50. The company has a market capitalization of $4.10 billion, a P/E ratio of 6.47 and a beta of 0.82.
Assured Guaranty (NYSE:AGO - Get Free Report) last announced its earnings results on Thursday, May 8th. The financial services provider reported $3.18 earnings per share for the quarter, topping analysts' consensus estimates of $3.15 by $0.03. Assured Guaranty had a net margin of 70.37% and a return on equity of 11.58%. The company 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. As a group, equities research analysts expect that Assured Guaranty Ltd. will post 7.3 EPS for the current fiscal year.
Assured Guaranty Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Friday, May 30th. Investors of record on Friday, May 16th will be issued a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 1.63%. The ex-dividend date is Friday, May 16th. Assured Guaranty's dividend payout ratio is 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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