State of Alaska Department of Revenue Has $2.89 Million Stake in Assured Guaranty Ltd. (NYSE:AGO)

State of Alaska Department of Revenue cut its stake in Assured Guaranty Ltd. (NYSE:AGOFree Report) by 1.0% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 33,114 shares of the financial services provider’s stock after selling 327 shares during the period. State of Alaska Department of Revenue owned approximately 0.06% of Assured Guaranty worth $2,889,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in AGO. Envestnet Asset Management Inc. grew its stake in shares of Assured Guaranty by 72.8% during the 3rd quarter. Envestnet Asset Management Inc. now owns 59,834 shares of the financial services provider’s stock worth $3,621,000 after acquiring an additional 25,204 shares in the last quarter. O Shaughnessy Asset Management LLC acquired a new stake in Assured Guaranty in the 3rd quarter valued at $225,000. Tower Research Capital LLC TRC lifted its position in Assured Guaranty by 117.0% during the 3rd quarter. Tower Research Capital LLC TRC now owns 6,042 shares of the financial services provider’s stock worth $366,000 after buying an additional 3,258 shares in the last quarter. Wealthstar Advisors LLC acquired a new position in shares of Assured Guaranty during the 4th quarter worth about $304,000. Finally, Raymond James & Associates grew its holdings in shares of Assured Guaranty by 10.2% in the 4th quarter. Raymond James & Associates now owns 226,309 shares of the financial services provider’s stock valued at $16,935,000 after acquiring an additional 21,025 shares in the last quarter. Institutional investors own 92.22% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Keefe, Bruyette & Woods dropped their target price on Assured Guaranty from $92.00 to $87.00 and set a “market perform” rating on the stock in a report on Friday, May 31st.

Get Our Latest Stock Report on AGO

Insider Activity at Assured Guaranty

In other news, CAO Laura Bieling sold 3,901 shares of the business’s stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $79.93, for a total transaction of $311,806.93. Following the completion of the sale, the chief accounting officer now owns 16,036 shares in the company, valued at $1,281,757.48. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other Assured Guaranty news, CAO Laura Bieling sold 3,901 shares of the stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $79.93, for a total transaction of $311,806.93. Following the transaction, the chief accounting officer now owns 16,036 shares in the company, valued at approximately $1,281,757.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Robert Bailenson sold 30,000 shares of the firm’s stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $79.94, for a total transaction of $2,398,200.00. Following the transaction, the chief operating officer now directly owns 304,835 shares in the company, valued at $24,368,509.90. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 73,901 shares of company stock worth $5,834,807. Insiders own 5.10% of the company’s stock.

Assured Guaranty Stock Down 2.4 %

Assured Guaranty stock opened at $76.14 on Friday. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.97 and a quick ratio of 0.97. The company’s 50-day moving average is $77.17 and its 200-day moving average is $80.56. The firm has a market capitalization of $4.15 billion, a PE ratio of 5.88 and a beta of 1.11. Assured Guaranty Ltd. has a fifty-two week low of $54.63 and a fifty-two week high of $96.60.

Assured Guaranty (NYSE:AGOGet Free Report) last released its quarterly earnings data on Tuesday, May 7th. The financial services provider reported $1.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.41 by $0.55. Assured Guaranty had a return on equity of 12.48% and a net margin of 57.45%. The firm had revenue of $245.00 million for the quarter, compared to analyst estimates of $194.78 million. During the same quarter in the prior year, the company earned $1.12 earnings per share. The business’s revenue for the quarter was down 13.4% compared to the same quarter last year. Sell-side analysts anticipate that Assured Guaranty Ltd. will post 6.45 earnings per share for the current year.

Assured Guaranty Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 29th. Investors of record on Wednesday, May 15th were issued a dividend of $0.31 per share. This is an increase from Assured Guaranty’s previous quarterly dividend of $0.28. The ex-dividend date was Tuesday, May 14th. This represents a $1.24 annualized dividend and a dividend yield of 1.63%. Assured Guaranty’s payout ratio is presently 9.58%.

Assured Guaranty Company Profile

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

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