Corient Private Wealth LP Decreases Stock Position in Assured Guaranty Ltd. $AGO

Key Points

• Corient Private Wealth cut its Assured Guaranty stake by 74.2% in the second quarter, selling 55,175 shares and retaining 19,183 shares worth about $1.54 million. Institutional investors collectively own 92.22% of AGO.
• Assured Guaranty shares opened at $68.33, near their 52-week low of $68.03 and down from their 50-day and 200-day moving averages. The company reported quarterly EPS of $1.23 on $195 million in revenue and analysts expect full-year EPS of $6.91.
• The company paid a quarterly dividend of $0.38, equivalent to an annualized $1.52 dividend and a 2.2% yield. Analysts maintain a consensus “Hold” rating with an average price target of $89.33, while an insider increased ownership by purchasing 209,388 shares.

Corient Private Wealth LP decreased its holdings in shares of Assured Guaranty Ltd. (NYSE:AGO - Free Report) by 74.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 19,183 shares of the financial services provider's stock after selling 55,175 shares during the quarter. Corient Private Wealth LP's holdings in Assured Guaranty were worth $1,538,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. BlackRock Inc. bought a new position in Assured Guaranty in the 2nd quarter valued at approximately $463,926,000. River Road Asset Management LLC boosted its holdings in shares of Assured Guaranty by 2.3% during the 4th quarter. River Road Asset Management LLC now owns 1,885,863 shares of the financial services provider's stock valued at $169,483,000 after acquiring an additional 42,311 shares in the last quarter. Reinhart Partners LLC. grew its position in Assured Guaranty by 11.7% during the 4th quarter. Reinhart Partners LLC. now owns 1,262,698 shares of the financial services provider's stock worth $113,480,000 after acquiring an additional 132,351 shares during the last quarter. Norges Bank bought a new stake in Assured Guaranty during the 4th quarter worth $51,538,000. Finally, Quantinno Capital Management LP increased its holdings in Assured Guaranty by 32.9% in the 1st quarter. Quantinno Capital Management LP now owns 499,347 shares of the financial services provider's stock worth $40,687,000 after purchasing an additional 123,672 shares in the last quarter. Institutional investors own 92.22% of the company's stock.

Assured Guaranty Stock Down 1.0%

Shares of NYSE AGO opened at $68.33 on Friday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.64 and a current ratio of 0.64. The company has a market capitalization of $3.01 billion, a P/E ratio of 9.11 and a beta of 0.73. The company's 50 day moving average price is $76.98 and its 200-day moving average price is $78.98. Assured Guaranty Ltd. has a 52-week low of $68.03 and a 52-week high of $92.39.

Assured Guaranty (NYSE:AGO - Get Free Report) last issued its quarterly earnings results on Tuesday, June 30th. The financial services provider reported $1.23 earnings per share (EPS) for the quarter. The firm had revenue of $195.00 million for the quarter. Assured Guaranty had a return on equity of 7.11% and a net margin of 37.34%. Equities analysts forecast that Assured Guaranty Ltd. will post 6.91 earnings per share for the current year.

Assured Guaranty Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 3rd. Shareholders of record on Thursday, August 20th were issued a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date was Thursday, August 20th. Assured Guaranty's dividend payout ratio (DPR) is presently 20.27%.

Analyst Ratings Changes

Several equities analysts have commented on the company. Keefe, Bruyette & Woods dropped their target price on Assured Guaranty from $101.00 to $97.00 and set an "outperform" rating for the company in a research report on Thursday, August 13th. UBS Group set a $91.00 price target on Assured Guaranty in a report on Monday, September 14th. Wall Street Zen raised Assured Guaranty from a "sell" rating to a "hold" rating in a research note on Sunday, August 16th. Finally, Weiss Ratings lowered shares of Assured Guaranty from a "hold (c+)" rating to a "hold (c)" rating in a report on Wednesday, September 9th. Two investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold" and a consensus target price of $89.33.

Insiders Place Their Bets

In related news, major shareholder Guaranty Ltd Assured acquired 209,388 shares of the company's stock in a transaction dated Wednesday, July 22nd. The shares were purchased at an average price of $24.83 per share, for a total transaction of $5,199,104.04. Following the completion of the acquisition, the insider owned 1,212,106 shares of the company's stock, valued at approximately $30,096,591.98. This trade represents a 20.88% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 5.70% of the company's stock.

Assured Guaranty Company Profile

Assured Guaranty Ltd. NYSE: AGO is a Bermuda-based financial services company that provides financial guarantees and related credit enhancement products. Through its operating subsidiaries, the company helps support the repayment of debt issued by public-sector entities, infrastructure projects and other borrowers.

The company's principal business is financial guaranty insurance, which generally protects investors against scheduled principal and interest payment defaults on insured obligations.

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