Arizona State Retirement System Decreases Stock Position in Assured Guaranty Ltd. (NYSE:AGO)

Arizona State Retirement System lowered its stake in Assured Guaranty Ltd. (NYSE:AGOGet Rating) by 3.9% during the 1st quarter, Holdings Channel reports. The firm owned 18,882 shares of the financial services provider’s stock after selling 767 shares during the quarter. Arizona State Retirement System’s holdings in Assured Guaranty were worth $1,202,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of AGO. JPMorgan Chase & Co. lifted its stake in Assured Guaranty by 996.4% in the 4th quarter. JPMorgan Chase & Co. now owns 1,115,076 shares of the financial services provider’s stock worth $55,977,000 after purchasing an additional 1,013,371 shares in the last quarter. Long Focus Capital Management LLC purchased a new stake in Assured Guaranty in the 4th quarter worth $17,565,000. Tegean Capital Management LLC bought a new stake in shares of Assured Guaranty in the 4th quarter worth about $13,554,000. Reinhart Partners Inc. increased its holdings in shares of Assured Guaranty by 35.8% in the 1st quarter. Reinhart Partners Inc. now owns 419,354 shares of the financial services provider’s stock worth $26,696,000 after buying an additional 110,539 shares during the last quarter. Finally, Yousif Capital Management LLC bought a new stake in shares of Assured Guaranty in the 4th quarter worth about $3,417,000. Hedge funds and other institutional investors own 95.41% of the company’s stock.

Assured Guaranty Stock Performance

Shares of NYSE:AGO opened at $58.24 on Tuesday. The company has a market capitalization of $3.73 billion, a price-to-earnings ratio of 9.35 and a beta of 1.05. Assured Guaranty Ltd. has a 12 month low of $44.94 and a 12 month high of $65.68. The firm’s 50-day moving average is $56.49 and its 200 day moving average is $57.55. The company has a current ratio of 0.57, a quick ratio of 0.57 and a debt-to-equity ratio of 0.28.

Assured Guaranty (NYSE:AGOGet Rating) last issued its quarterly earnings results on Thursday, May 5th. The financial services provider reported $1.34 EPS for the quarter. The company had revenue of $300.00 million for the quarter. Assured Guaranty had a net margin of 45.73% and a return on equity of 8.14%.

Assured Guaranty Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 1st. Investors of record on Wednesday, May 18th were issued a dividend of $0.25 per share. The ex-dividend date was Tuesday, May 17th. This represents a $1.00 annualized dividend and a yield of 1.72%. Assured Guaranty’s payout ratio is 16.05%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on AGO. UBS Group restated a “neutral” rating and issued a $65.00 target price (up from $56.00) on shares of Assured Guaranty in a report on Tuesday, April 5th. TheStreet downgraded shares of Assured Guaranty from a “b” rating to a “c+” rating in a report on Wednesday, July 13th.

Insider Activity at Assured Guaranty

In other Assured Guaranty news, CEO Dominic Frederico sold 86,000 shares of the company’s stock in a transaction dated Monday, June 27th. The shares were sold at an average price of $57.21, for a total value of $4,920,060.00. Following the transaction, the chief executive officer now directly owns 1,278,541 shares in the company, valued at approximately $73,145,330.61. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 4.51% of the stock is currently owned by insiders.

About Assured Guaranty

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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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Institutional Ownership by Quarter for Assured Guaranty (NYSE:AGO)

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