ProShare Advisors LLC Makes New $7.92 Million Investment in Assured Guaranty Ltd. $AGO

Key Points

• ProShare Advisors initiated a $7.92 million position in Assured Guaranty, purchasing 116,975 shares—about 0.27% of the company. Institutional investors collectively own 92.22% of its shares.
• Analyst sentiment is broadly positive: MarketBeat reports a “Moderate Buy” consensus and an average price target of $91, while AGO opened at $72.50.
• Assured Guaranty announced a quarterly dividend of $0.38 per share, equivalent to $1.52 annually and a 2.1% yield; payment is scheduled for December 2.

ProShare Advisors LLC bought a new position in shares of Assured Guaranty Ltd. (NYSE:AGO - Free Report) in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 116,975 shares of the financial services provider's stock, valued at approximately $7,922,000. ProShare Advisors LLC owned 0.27% of Assured Guaranty at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. BlackRock Inc. acquired a new position in Assured Guaranty during the second quarter worth $463,926,000. Quantinno Capital Management LP increased its position in shares of Assured Guaranty by 32.9% during the first quarter. Quantinno Capital Management LP now owns 499,347 shares of the financial services provider's stock valued at $40,687,000 after acquiring an additional 123,672 shares during the last quarter. Bank of America Corp DE purchased a new stake in shares of Assured Guaranty during the 2nd quarter valued at $30,108,000. Bank of New York Mellon Corp bought a new stake in Assured Guaranty in the second quarter worth about $23,025,000. Finally, Man Group plc bought a new stake in shares of Assured Guaranty in the 2nd quarter worth approximately $13,439,000. 92.22% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. Roth Capital upgraded Assured Guaranty from a "neutral" rating to a "buy" rating and increased their target price for the stock from $80.00 to $85.00 in a research report on Friday, September 25th. UBS Group set a $91.00 price target on shares of Assured Guaranty in a research note on Monday, September 14th. Weiss Ratings lowered Assured Guaranty from a "hold (c+)" rating to a "hold (c)" rating in a research report on Wednesday, September 9th. Keefe, Bruyette & Woods decreased their target price on shares of Assured Guaranty from $101.00 to $97.00 and set an "outperform" rating on the stock in a research report on Thursday, August 13th. Finally, Wall Street Zen upgraded Assured Guaranty from a "sell" rating to a "hold" rating in a research report on Sunday, August 16th. Three research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, Assured Guaranty presently has an average rating of "Moderate Buy" and an average price target of $91.00.

Assured Guaranty Price Performance

AGO opened at $72.50 on Thursday. The stock has a market capitalization of $3.19 billion, a P/E ratio of 8.27 and a beta of 0.65. The company's 50-day simple moving average is $71.10 and its two-hundred day simple moving average is $78.83. Assured Guaranty Ltd. has a 52-week low of $67.24 and a 52-week high of $92.39. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.64 and a current ratio of 0.64.

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

Assured Guaranty Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 2nd. Stockholders of record on Wednesday, November 18th will be issued a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 2.1%. The ex-dividend date of this dividend is Wednesday, November 18th. Assured Guaranty's dividend payout ratio is 20.27%.

About Assured Guaranty

Assured Guaranty Ltd. NYSE: AGO is a Bermuda-based financial services company that provides credit protection products through its operating insurance subsidiaries. The company's core business is financial guaranty insurance, which generally guarantees the payment of scheduled principal and interest on debt obligations if the issuer or borrower defaults.

Assured Guaranty primarily serves the public finance and infrastructure markets. Its guarantees support municipal bonds and other public-sector debt, as well as obligations related to transportation, utilities, social infrastructure and other essential-service projects.

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