Reinhart Partners LLC. increased its holdings in shares of Assured Guaranty Ltd. (NYSE:AGO - Free Report) by 12.8% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 1,134,810 shares of the financial services provider's stock after purchasing an additional 129,026 shares during the period. Assured Guaranty accounts for approximately 3.6% of Reinhart Partners LLC.'s holdings, making the stock its 5th largest position. Reinhart Partners LLC. owned about 2.27% of Assured Guaranty worth $99,977,000 at the end of the most recent quarter.
Other hedge funds have also recently bought and sold shares of the company. Norges Bank bought a new stake in shares of Assured Guaranty in the fourth quarter worth $50,447,000. River Road Asset Management LLC increased its stake in Assured Guaranty by 67.4% in the 4th quarter. River Road Asset Management LLC now owns 1,116,131 shares of the financial services provider's stock valued at $100,463,000 after buying an additional 449,310 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in Assured Guaranty in the 4th quarter valued at about $28,060,000. Boston Partners increased its stake in Assured Guaranty by 46.0% in the 4th quarter. Boston Partners now owns 806,821 shares of the financial services provider's stock valued at $72,904,000 after buying an additional 254,063 shares during the last quarter. Finally, GAMMA Investing LLC grew its position in shares of Assured Guaranty by 8,932.0% during the 1st quarter. GAMMA Investing LLC now owns 240,161 shares of the financial services provider's stock valued at $211,580,000 after acquiring an additional 237,502 shares during the period. 92.22% of the stock is currently owned by institutional investors and hedge funds.
Assured Guaranty Stock Performance
AGO traded up $1.35 on Friday, hitting $85.46. The company's stock had a trading volume of 207,786 shares, compared to its average volume of 344,979. The company's 50 day simple moving average is $84.73 and its 200-day simple moving average is $88.10. The firm has a market cap of $4.20 billion, a P/E ratio of 6.64 and a beta of 0.83. Assured Guaranty Ltd. has a 12 month low of $72.57 and a 12 month high of $96.50. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.29.
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, topping analysts' consensus estimates of $3.15 by $0.03. The company had revenue of $345.00 million for the quarter, compared to analysts' expectations of $257.96 million. Assured Guaranty had a net margin of 70.37% and a return on equity of 11.58%. During the same quarter last year, the company earned $1.96 EPS. Analysts forecast that Assured Guaranty Ltd. will post 7.3 EPS for the current year.
Assured Guaranty Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Friday, May 30th. Shareholders of record on Friday, May 16th were issued a dividend of $0.34 per share. The ex-dividend date was Friday, May 16th. This represents a $1.36 dividend on an annualized basis and a yield of 1.59%. Assured Guaranty's dividend payout ratio is currently 16.25%.
Insider Transactions at Assured Guaranty
In other news, CAO Laura Bieling sold 2,649 shares of the firm's stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $87.76, for a total value of $232,476.24. Following the completion of the sale, the chief accounting officer now owns 13,462 shares in the company, valued at approximately $1,181,425.12. This trade represents a 16.44% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Dominic Frederico sold 10,438 shares of the business's stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $86.13, for a total transaction of $899,024.94. Following the completion of the sale, the chief executive officer now owns 1,337,635 shares of the company's stock, valued at approximately $115,210,502.55. This represents a 0.77% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 85,004 shares of company stock valued at $7,324,274 over the last three months. Corporate 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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