Verition Fund Management LLC Boosts Position in Assured Guaranty Ltd. (AGO)
Verition Fund Management LLC increased its stake in Assured Guaranty Ltd. (NYSE:AGO) by 145.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 22,634 shares of the financial services provider’s stock after purchasing an additional 13,431 shares during the quarter. Verition Fund Management LLC’s holdings in Assured Guaranty were worth $945,000 at the end of the most recent quarter.
Other large investors also recently bought and sold shares of the company. Tower Research Capital LLC TRC raised its holdings in Assured Guaranty by 962.5% during the 2nd quarter. Tower Research Capital LLC TRC now owns 4,250 shares of the financial services provider’s stock valued at $177,000 after acquiring an additional 3,850 shares during the period. Dynamic Technology Lab Private Ltd bought a new stake in Assured Guaranty during the 1st quarter valued at $205,000. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Assured Guaranty by 11.7% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,150 shares of the financial services provider’s stock valued at $215,000 after acquiring an additional 539 shares during the period. Quantum Capital Management bought a new stake in Assured Guaranty during the 2nd quarter valued at $218,000. Finally, Zweig DiMenna Associates LLC bought a new stake in Assured Guaranty during the 2nd quarter valued at $288,000. 96.71% of the stock is currently owned by institutional investors.
Shares of Assured Guaranty Ltd. (AGO) traded up 0.33% during midday trading on Friday, reaching $36.89. 724,787 shares of the company’s stock were exchanged. The firm has a 50 day moving average of $40.05 and a 200-day moving average of $40.77. The stock has a market cap of $4.39 billion, a price-to-earnings ratio of 4.15 and a beta of 1.65. Assured Guaranty Ltd. has a one year low of $28.56 and a one year high of $45.73.
Assured Guaranty (NYSE:AGO) last issued its quarterly earnings results on Wednesday, August 2nd. The financial services provider reported $1.16 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.72 by $0.44. The business had revenue of $308.00 million for the quarter, compared to analysts’ expectations of $288.15 million. Assured Guaranty had a net margin of 61.25% and a return on equity of 16.00%. The company’s revenue was down 22.2% compared to the same quarter last year. During the same quarter last year, the company posted $1.03 EPS. On average, equities research analysts anticipate that Assured Guaranty Ltd. will post $4.86 earnings per share for the current year.
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A number of equities research analysts have issued reports on the stock. BidaskClub cut shares of Assured Guaranty from a “buy” rating to a “hold” rating in a report on Saturday, June 24th. BTIG Research reissued a “buy” rating and set a $49.00 target price on shares of Assured Guaranty in a report on Friday, July 14th. Keefe, Bruyette & Woods reissued a “hold” rating and set a $42.00 target price on shares of Assured Guaranty in a report on Tuesday, July 4th. UBS AG reissued a “buy” rating and set a $47.00 target price (down previously from $49.00) on shares of Assured Guaranty in a report on Wednesday, October 4th. Finally, MKM Partners reissued a “buy” rating on shares of Assured Guaranty in a report on Thursday, October 5th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $47.00.
Assured Guaranty Profile
Assured Guaranty Ltd. is a holding company. The Company, through its subsidiaries, provides credit protection products to the United States and international public finance, including infrastructure, and structured finance markets. It applies its credit underwriting judgment, risk management skills and capital markets experience primarily to offer financial guaranty insurance that protects holders of debt instruments and other monetary obligations from defaults in scheduled payments.
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