Counterpoint Mutual Funds LLC Buys New Position in Assured Guaranty Ltd. $AGO

Key Points

• Counterpoint Mutual Funds LLC has acquired a new position in Assured Guaranty Ltd., purchasing 4,653 shares valued at approximately $405,000 during the second quarter.
• Assured Guaranty recently reported quarterly earnings of $1.01 per share, which missed analysts' expectations by $0.56, although its revenue increased by 39.1% year-over-year to $281 million.
• The company's quarterly dividend of $0.34, paid in September, represents an annualized yield of 1.6%, with a payout ratio of 15.03%.

Counterpoint Mutual Funds LLC purchased a new position in shares of Assured Guaranty Ltd. (NYSE:AGO - Free Report) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 4,653 shares of the financial services provider's stock, valued at approximately $405,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Allworth Financial LP grew its holdings in shares of Assured Guaranty by 27.6% in the first quarter. Allworth Financial LP now owns 717 shares of the financial services provider's stock valued at $62,000 after purchasing an additional 155 shares in the last quarter. Heck Capital Advisors LLC acquired a new position in shares of Assured Guaranty in the fourth quarter worth $97,000. Headlands Technologies LLC purchased a new stake in shares of Assured Guaranty during the first quarter worth $104,000. State of Wyoming raised its stake in shares of Assured Guaranty by 583.3% in the first quarter. State of Wyoming now owns 1,517 shares of the financial services provider's stock valued at $134,000 after acquiring an additional 1,295 shares in the last quarter. Finally, Farther Finance Advisors LLC raised its stake in shares of Assured Guaranty by 554.2% in the first quarter. Farther Finance Advisors LLC now owns 1,544 shares of the financial services provider's stock valued at $136,000 after acquiring an additional 1,308 shares in the last quarter. Hedge funds and other institutional investors own 92.22% of the company's stock.

Assured Guaranty Stock Performance

Shares of AGO stock opened at $83.60 on Wednesday. The stock's 50-day moving average is $82.72 and its two-hundred day moving average is $84.31. The firm has a market cap of $3.98 billion, a price-to-earnings ratio of 9.24 and a beta of 0.91. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.75 and a current ratio of 0.75. Assured Guaranty Ltd. has a 1 year low of $74.09 and a 1 year high of $96.50.

Assured Guaranty (NYSE:AGO - Get Free Report) last announced its earnings results on Thursday, August 7th. The financial services provider reported $1.01 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.57 by ($0.56). Assured Guaranty had a return on equity of 7.18% and a net margin of 44.53%.The business had revenue of $281.00 million for the quarter, compared to analysts' expectations of $203.91 million. During the same quarter last year, the business posted $1.44 earnings per share. The business's revenue was up 39.1% on a year-over-year basis. Analysts predict that Assured Guaranty Ltd. will post 7.3 earnings per share for the current year.

Assured Guaranty Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 3rd. Shareholders of record on Wednesday, August 20th were issued a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date of this dividend was Wednesday, August 20th. Assured Guaranty's payout ratio is currently 15.03%.

Analysts Set New Price Targets

Several brokerages have weighed in on AGO. UBS Group cut their price target on Assured Guaranty from $95.00 to $92.00 and set a "neutral" rating on the stock in a report on Wednesday, August 13th. Zacks Research raised shares of Assured Guaranty to a "strong sell" rating in a report on Friday, August 8th. Finally, Wall Street Zen lowered shares of Assured Guaranty from a "hold" rating to a "sell" rating in a report on Saturday, August 9th. One analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $98.50.

Insider Activity

In related news, COO Robert Bailenson sold 40,000 shares of Assured Guaranty stock in a transaction that occurred on Monday, August 11th. The stock was sold at an average price of $81.51, for a total value of $3,260,400.00. Following the sale, the chief operating officer directly owned 291,728 shares in the company, valued at $23,778,749.28. The trade was a 12.06% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 5.10% of the company's stock.

About Assured Guaranty

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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