Thornburg Investment Management Inc. grew its position in Assured Guaranty Ltd. (NYSE:AGO) by 6.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,655,648 shares of the financial services provider’s stock after buying an additional 93,321 shares during the quarter. Thornburg Investment Management Inc.’s holdings in Assured Guaranty were worth $73,560,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently made changes to their positions in the business. Global Retirement Partners LLC boosted its holdings in shares of Assured Guaranty by 17.6% in the fourth quarter. Global Retirement Partners LLC now owns 1,692 shares of the financial services provider’s stock worth $65,000 after buying an additional 253 shares during the period. Greenleaf Trust boosted its holdings in shares of Assured Guaranty by 1.8% in the fourth quarter. Greenleaf Trust now owns 15,790 shares of the financial services provider’s stock worth $604,000 after buying an additional 278 shares during the period. Parkside Financial Bank & Trust boosted its holdings in shares of Assured Guaranty by 20.4% in the fourth quarter. Parkside Financial Bank & Trust now owns 1,810 shares of the financial services provider’s stock worth $69,000 after buying an additional 307 shares during the period. Paloma Partners Management Co boosted its holdings in shares of Assured Guaranty by 1.8% in the fourth quarter. Paloma Partners Management Co now owns 17,575 shares of the financial services provider’s stock worth $672,000 after buying an additional 308 shares during the period. Finally, Chartwell Investment Partners LLC boosted its holdings in shares of Assured Guaranty by 0.7% in the first quarter. Chartwell Investment Partners LLC now owns 64,884 shares of the financial services provider’s stock worth $2,883,000 after buying an additional 452 shares during the period. Institutional investors own 97.84% of the company’s stock.
Shares of NYSE AGO traded down $0.34 during mid-day trading on Friday, reaching $42.67. The company had a trading volume of 8,248 shares, compared to its average volume of 579,230. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.51 and a quick ratio of 0.49. The firm has a market capitalization of $4.32 billion, a price-to-earnings ratio of 11.13 and a beta of 1.04. Assured Guaranty Ltd. has a 12-month low of $34.93 and a 12-month high of $47.97.
Assured Guaranty (NYSE:AGO) last posted its quarterly earnings results on Thursday, May 9th. The financial services provider reported $0.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.75 by $0.07. The business had revenue of $234.00 million during the quarter, compared to analyst estimates of $228.29 million. Assured Guaranty had a net margin of 41.81% and a return on equity of 6.25%. The firm’s revenue was down 20.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.33 earnings per share.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 5th. Stockholders of record on Wednesday, May 22nd will be given a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.69%. The ex-dividend date is Tuesday, May 21st.
Separately, MKM Partners raised their target price on shares of Assured Guaranty to $65.00 and gave the stock a “buy” rating in a report on Friday, May 10th.
In other news, Director G Lawrence Buhl sold 3,873 shares of the stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $43.77, for a total value of $169,521.21. Following the completion of the sale, the director now directly owns 59,352 shares of the company’s stock, valued at $2,597,837.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 2.81% of the stock is owned by corporate insiders.
About Assured Guaranty
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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