Wells Fargo & Company MN boosted its position in shares of Assured Guaranty Ltd. (NYSE:AGO) by 40.4% during the 3rd quarter, HoldingsChannel reports. The firm owned 319,639 shares of the financial services provider’s stock after buying an additional 92,023 shares during the quarter. Wells Fargo & Company MN’s holdings in Assured Guaranty were worth $13,498,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of AGO. Cornerstone Wealth Management LLC purchased a new position in shares of Assured Guaranty in the 2nd quarter worth about $278,000. BNP Paribas Arbitrage SA raised its position in shares of Assured Guaranty by 57.2% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 36,737 shares of the financial services provider’s stock worth $1,313,000 after purchasing an additional 13,371 shares during the last quarter. Massachusetts Financial Services Co. MA increased its holdings in Assured Guaranty by 39.3% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 25,311 shares of the financial services provider’s stock worth $904,000 after buying an additional 7,136 shares in the last quarter. Sei Investments Co. increased its holdings in Assured Guaranty by 9.1% in the 2nd quarter. Sei Investments Co. now owns 85,682 shares of the financial services provider’s stock worth $3,062,000 after buying an additional 7,152 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. increased its holdings in Assured Guaranty by 4.0% in the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 970,158 shares of the financial services provider’s stock worth $34,665,000 after buying an additional 37,455 shares in the last quarter. Hedge funds and other institutional investors own 96.22% of the company’s stock.
In related news, CFO Robert Bailenson sold 16,723 shares of Assured Guaranty stock in a transaction dated Thursday, September 13th. The stock was sold at an average price of $40.42, for a total value of $675,943.66. Following the completion of the sale, the chief financial officer now directly owns 252,786 shares in the company, valued at approximately $10,217,610.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Russell B. Brewer II sold 29,362 shares of Assured Guaranty stock in a transaction dated Friday, September 21st. The stock was sold at an average price of $42.36, for a total value of $1,243,774.32. Following the completion of the sale, the insider now owns 188,952 shares of the company’s stock, valued at $8,004,006.72. The disclosure for this sale can be found here. Insiders sold a total of 50,798 shares of company stock valued at $2,116,863 over the last quarter. 2.62% of the stock is owned by corporate insiders.
NYSE AGO opened at $39.27 on Friday. Assured Guaranty Ltd. has a one year low of $32.97 and a one year high of $43.40. The stock has a market capitalization of $4.25 billion, a P/E ratio of 9.50 and a beta of 1.25. The company has a quick ratio of 0.49, a current ratio of 0.49 and a debt-to-equity ratio of 0.19.
Assured Guaranty (NYSE:AGO) last released its quarterly earnings data on Thursday, November 8th. The financial services provider reported $1.47 EPS for the quarter, topping the consensus estimate of $0.72 by $0.75. Assured Guaranty had a return on equity of 7.17% and a net margin of 45.37%. The company had revenue of $274.00 million during the quarter, compared to the consensus estimate of $240.16 million. During the same period last year, the company earned $1.29 EPS. Assured Guaranty’s revenue for the quarter was down 56.0% on a year-over-year basis.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 5th. Investors of record on Wednesday, November 21st were issued a $0.16 dividend. The ex-dividend date of this dividend was Tuesday, November 20th. This represents a $0.64 annualized dividend and a yield of 1.63%.
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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. It offers financial guaranty insurance that protects holders of debt instruments and other monetary obligations from defaults in scheduled payments.
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