Bank of New York Mellon Corp cut its stake in shares of Assured Guaranty Ltd. (NYSE:AGO - Free Report) by 5.6% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 395,362 shares of the financial services provider's stock after selling 23,256 shares during the period. Bank of New York Mellon Corp owned about 0.79% of Assured Guaranty worth $34,831,000 at the end of the most recent quarter.
A number of other large investors also recently added to or reduced their stakes in the stock. Teacher Retirement System of Texas acquired a new position in Assured Guaranty during the first quarter worth $624,000. KBC Group NV raised its position in Assured Guaranty by 25.6% during the first quarter. KBC Group NV now owns 2,516 shares of the financial services provider's stock worth $222,000 after acquiring an additional 513 shares during the period. Decker Retirement Planning Inc. acquired a new position in Assured Guaranty during the first quarter worth $2,552,000. Robeco Institutional Asset Management B.V. raised its position in Assured Guaranty by 41.7% during the first quarter. Robeco Institutional Asset Management B.V. now owns 70,622 shares of the financial services provider's stock worth $6,222,000 after acquiring an additional 20,779 shares during the period. Finally, Cambridge Investment Research Advisors Inc. acquired a new position in Assured Guaranty during the first quarter worth $1,305,000. 92.22% of the stock is currently owned by institutional investors and hedge funds.
Assured Guaranty Price Performance
Shares of NYSE AGO traded up $0.33 during mid-day trading on Wednesday, reaching $82.30. The company's stock had a trading volume of 238,119 shares, compared to its average volume of 332,328. The stock has a 50-day moving average of $85.35 and a two-hundred day moving average of $87.12. The stock has a market capitalization of $4.04 billion, a P/E ratio of 9.83 and a beta of 0.82. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.83 and a current ratio of 0.83. Assured Guaranty Ltd. has a 1-year low of $72.57 and a 1-year high of $96.50.
Assured Guaranty (NYSE:AGO - Get Free Report) last issued its earnings results on Thursday, May 8th. The financial services provider reported $3.18 EPS for the quarter, beating analysts' consensus estimates of $3.15 by $0.03. The business had revenue of $345.00 million during the quarter, compared to analysts' expectations of $257.96 million. Assured Guaranty had a net margin of 45.58% and a return on equity of 7.76%. During the same period in the prior year, the business earned $1.96 earnings per share. On average, equities research analysts anticipate that Assured Guaranty Ltd. will post 7.3 EPS for the current fiscal year.
Assured Guaranty Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, May 30th. Stockholders of record on Friday, May 16th were given a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.65%. The ex-dividend date of this dividend was Friday, May 16th. Assured Guaranty's dividend payout ratio (DPR) is 16.25%.
Insider Transactions at Assured Guaranty
In related news, CEO Dominic Frederico sold 10,438 shares of the company's stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $86.13, for a total value of $899,024.94. Following the completion of the sale, the chief executive officer owned 1,337,635 shares of the company's stock, valued at approximately $115,210,502.55. This represents a 0.77% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CAO Laura Bieling sold 2,649 shares of the company's stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $87.76, for a total transaction of $232,476.24. Following the completion of the sale, the chief accounting officer directly owned 13,462 shares of the company's stock, valued at $1,181,425.12. This represents a 16.44% decrease in their position. The disclosure for this sale can be found here. Insiders sold 85,004 shares of company stock valued at $7,324,274 over the last quarter. Company insiders own 5.10% of the company's stock.
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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