Tiaa Fsb decreased its position in shares of Assured Guaranty Ltd. (NYSE:AGO) by 25.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 14,330 shares of the financial services provider’s stock after selling 4,913 shares during the quarter. Tiaa Fsb’s holdings in Assured Guaranty were worth $605,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds have also recently made changes to their positions in the company. Banco de Sabadell S.A raised its holdings in Assured Guaranty by 5.6% in the 2nd quarter. Banco de Sabadell S.A now owns 25,448 shares of the financial services provider’s stock valued at $910,000 after buying an additional 1,345 shares during the period. Chartwell Investment Partners LLC raised its holdings in Assured Guaranty by 2.4% in the 2nd quarter. Chartwell Investment Partners LLC now owns 61,832 shares of the financial services provider’s stock valued at $2,209,000 after buying an additional 1,455 shares during the period. Connor Clark & Lunn Investment Management Ltd. raised its holdings in Assured Guaranty by 1.2% in the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 193,950 shares of the financial services provider’s stock valued at $6,930,000 after buying an additional 2,250 shares during the period. Point View Wealth Management Inc. raised its holdings in Assured Guaranty by 37.9% in the 2nd quarter. Point View Wealth Management Inc. now owns 8,796 shares of the financial services provider’s stock valued at $314,000 after buying an additional 2,419 shares during the period. Finally, United Services Automobile Association raised its holdings in Assured Guaranty by 11.9% in the 2nd quarter. United Services Automobile Association now owns 23,257 shares of the financial services provider’s stock valued at $831,000 after buying an additional 2,466 shares during the period. 95.61% of the stock is currently owned by hedge funds and other institutional investors.
Shares of AGO opened at $40.75 on Tuesday. The stock has a market capitalization of $4.43 billion, a P/E ratio of 10.09 and a beta of 1.38. Assured Guaranty Ltd. has a 12-month low of $32.97 and a 12-month high of $43.07. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.56 and a current ratio of 0.56.
Assured Guaranty (NYSE:AGO) last issued its quarterly earnings data on Wednesday, August 1st. The financial services provider reported $0.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.74 by ($0.08). The company had revenue of $221.00 million during the quarter, compared to analysts’ expectations of $236.91 million. Assured Guaranty had a net margin of 37.52% and a return on equity of 7.02%. The firm’s quarterly revenue was down 28.2% on a year-over-year basis. During the same quarter last year, the firm posted $1.16 earnings per share.
Several brokerages recently issued reports on AGO. ValuEngine upgraded shares of Assured Guaranty from a “sell” rating to a “hold” rating in a report on Tuesday, September 4th. Keefe, Bruyette & Woods restated a “buy” rating and issued a $48.00 price objective on shares of Assured Guaranty in a report on Friday, August 3rd.
In related news, Director Patrick W. Kenny sold 4,300 shares of the business’s stock in a transaction dated Thursday, September 6th. The shares were sold at an average price of $41.21, for a total value of $177,203.00. Following the sale, the director now directly owns 59,468 shares in the company, valued at approximately $2,450,676.28. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Dominic Frederico sold 118,294 shares of the business’s stock in a transaction dated Friday, August 31st. The shares were sold at an average price of $40.73, for a total transaction of $4,818,114.62. Following the completion of the sale, the chief executive officer now owns 1,180,680 shares in the company, valued at $48,089,096.40. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 380,734 shares of company stock worth $15,571,121. 2.54% of the stock is owned by insiders.
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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