Corebridge Financial Inc. Sells 294 Shares of Assured Guaranty Ltd. (NYSE:AGO)

Corebridge Financial Inc. cut its holdings in Assured Guaranty Ltd. (NYSE:AGO) by 12.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,036 shares of the financial services provider’s stock after selling 294 shares during the quarter. Corebridge Financial Inc.’s holdings in Assured Guaranty were worth $183,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in AGO. River Road Asset Management LLC grew its stake in shares of Assured Guaranty by 67.4% in the fourth quarter. River Road Asset Management LLC now owns 1,116,131 shares of the financial services provider’s stock worth $100,463,000 after acquiring an additional 449,310 shares during the period. Reinhart Partners LLC. boosted its holdings in Assured Guaranty by 2.9% in the fourth quarter. Reinhart Partners LLC. now owns 1,005,784 shares of the financial services provider’s stock worth $90,531,000 after purchasing an additional 28,026 shares during the last quarter. Royce & Associates LP grew its position in Assured Guaranty by 0.9% in the 4th quarter. Royce & Associates LP now owns 990,193 shares of the financial services provider’s stock worth $89,127,000 after purchasing an additional 9,062 shares during the period. Principal Financial Group Inc. raised its stake in Assured Guaranty by 0.3% during the 3rd quarter. Principal Financial Group Inc. now owns 926,415 shares of the financial services provider’s stock valued at $73,670,000 after buying an additional 2,953 shares during the last quarter. Finally, American Century Companies Inc. lifted its holdings in shares of Assured Guaranty by 12.0% during the 4th quarter. American Century Companies Inc. now owns 903,270 shares of the financial services provider’s stock valued at $81,303,000 after buying an additional 97,091 shares during the period. 92.22% of the stock is currently owned by hedge funds and other institutional investors.

Assured Guaranty Stock Performance

Shares of AGO opened at $80.61 on Monday. The firm has a market capitalization of $4.03 billion, a P/E ratio of 6.26 and a beta of 0.84. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.91 and a quick ratio of 0.91. Assured Guaranty Ltd. has a one year low of $72.57 and a one year high of $96.50. The business has a fifty day moving average of $87.16 and a 200 day moving average of $87.98.

Assured Guaranty (NYSE:AGO) last released its quarterly earnings results on Thursday, February 27th. The financial services provider reported $1.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.34 by ($0.07). The firm had revenue of $199.00 million for the quarter, compared to the consensus estimate of $199.56 million. Assured Guaranty had a net margin of 70.37% and a return on equity of 11.58%. As a group, sell-side analysts anticipate that Assured Guaranty Ltd. will post 7.3 EPS for the current year.

Assured Guaranty Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th were paid a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a dividend yield of 1.69%. The ex-dividend date was Wednesday, March 5th. This is a boost from Assured Guaranty’s previous quarterly dividend of $0.31. Assured Guaranty’s dividend payout ratio (DPR) is currently 19.94%.

Assured Guaranty Profile

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.