Assured Guaranty Ltd. (NYSE:AGO) was the recipient of a large drop in short interest in the month of October. As of October 30th, there was short interest totalling 8,400,000 shares, a drop of 14.3% from the October 15th total of 9,800,000 shares. Currently, 10.9% of the shares of the stock are sold short. Based on an average trading volume of 1,330,000 shares, the days-to-cover ratio is presently 6.3 days.
Separately, MKM Partners dropped their price target on shares of Assured Guaranty from $65.00 to $45.00 in a research note on Friday, August 7th.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Voloridge Investment Management LLC grew its position in Assured Guaranty by 2.9% in the 3rd quarter. Voloridge Investment Management LLC now owns 299,804 shares of the financial services provider's stock valued at $6,440,000 after acquiring an additional 8,310 shares in the last quarter. Point72 Hong Kong Ltd acquired a new position in Assured Guaranty in the 3rd quarter valued at about $263,000. ExodusPoint Capital Management LP grew its position in Assured Guaranty by 276.9% in the 3rd quarter. ExodusPoint Capital Management LP now owns 224,887 shares of the financial services provider's stock valued at $4,831,000 after acquiring an additional 165,217 shares in the last quarter. Weld Capital Management LLC grew its position in shares of Assured Guaranty by 110.3% during the third quarter. Weld Capital Management LLC now owns 42,253 shares of the financial services provider's stock worth $908,000 after buying an additional 22,163 shares in the last quarter. Finally, Morgan Stanley grew its position in shares of Assured Guaranty by 2.8% during the third quarter. Morgan Stanley now owns 72,944 shares of the financial services provider's stock worth $1,567,000 after buying an additional 1,967 shares in the last quarter. 81.09% of the stock is owned by institutional investors.
NYSE AGO opened at $31.63 on Friday. Assured Guaranty has a 52 week low of $13.64 and a 52 week high of $50.77. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 0.19. The business's fifty day simple moving average is $27.72 and its 200-day simple moving average is $24.81. The firm has a market cap of $2.56 billion, a PE ratio of 8.01 and a beta of 1.08.
Assured Guaranty (NYSE:AGO) last posted its quarterly earnings results on Tuesday, November 10th. The financial services provider reported $0.58 EPS for the quarter, missing the consensus estimate of $0.67 by ($0.09). The company had revenue of $232.00 million for the quarter, compared to analysts' expectations of $208.82 million. Assured Guaranty had a return on equity of 4.42% and a net margin of 34.01%. The firm's revenue was up 4.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.79 EPS.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 2nd. Shareholders of record on Wednesday, November 18th will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 2.53%. The ex-dividend date is Tuesday, November 17th.
Assured Guaranty Company Profile
Assured Guaranty Ltd., through its subsidiaries, provides credit protection products to public finance, infrastructure, and structured finance markets in the United States and internationally. The company operates in two segments, Insurance and Asset Management. It offers financial guaranty insurance that protects holders of debt instruments and other monetary obligations from defaults in scheduled payments.
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