Tahithromos L.L.C. Sells 29,954 Shares of Assured Guaranty Ltd. (AGO)
Tahithromos L.L.C. lowered its position in shares of Assured Guaranty Ltd. (NYSE:AGO) by 74.0% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 10,534 shares of the financial services provider’s stock after selling 29,954 shares during the quarter. Assured Guaranty makes up about 0.5% of Tahithromos L.L.C.’s investment portfolio, making the stock its 16th largest position. Tahithromos L.L.C.’s holdings in Assured Guaranty were worth $398,000 at the end of the most recent reporting period.
Other hedge funds have also recently added to or reduced their stakes in the company. Fuller & Thaler Asset Management Inc. grew its stake in shares of Assured Guaranty by 0.4% during the third quarter. Fuller & Thaler Asset Management Inc. now owns 1,250,839 shares of the financial services provider’s stock worth $47,219,000 after purchasing an additional 5,241 shares during the period. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Assured Guaranty during the third quarter worth $767,000. Cipher Capital LP grew its stake in shares of Assured Guaranty by 266.4% during the third quarter. Cipher Capital LP now owns 21,106 shares of the financial services provider’s stock worth $797,000 after purchasing an additional 15,345 shares during the period. Macquarie Group Ltd. grew its stake in shares of Assured Guaranty by 37.2% during the third quarter. Macquarie Group Ltd. now owns 47,200 shares of the financial services provider’s stock worth $1,782,000 after purchasing an additional 12,800 shares during the period. Finally, Quantbot Technologies LP grew its stake in shares of Assured Guaranty by 68,682.4% during the third quarter. Quantbot Technologies LP now owns 11,693 shares of the financial services provider’s stock worth $441,000 after purchasing an additional 11,676 shares during the period. Institutional investors own 97.36% of the company’s stock.
AGO has been the subject of a number of analyst reports. MKM Partners reaffirmed a “buy” rating on shares of Assured Guaranty in a research note on Thursday, October 5th. UBS AG reaffirmed a “buy” rating and set a $47.00 price objective (down from $49.00) on shares of Assured Guaranty in a research note on Wednesday, October 4th. Finally, BidaskClub cut Assured Guaranty from a “buy” rating to a “hold” rating in a research note on Monday, July 31st. Two analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Assured Guaranty presently has a consensus rating of “Buy” and a consensus price target of $47.00.
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Shares of Assured Guaranty Ltd. (AGO) opened at $36.27 on Friday. 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 Ltd. has a 52 week low of $34.74 and a 52 week high of $45.73. The company has a market capitalization of $4,260.05, a price-to-earnings ratio of 6.43 and a beta of 1.66.
Assured Guaranty (NYSE:AGO) last posted its earnings results on Thursday, November 2nd. The financial services provider reported $1.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.78 by $0.51. Assured Guaranty had a return on equity of 10.59% and a net margin of 45.38%. The firm had revenue of $623.00 million during the quarter, compared to analysts’ expectations of $262.09 million. During the same period in the previous year, the firm earned $3.74 earnings per share. The company’s revenue was up 10.1% on a year-over-year basis.
Assured Guaranty declared that its board has initiated a share repurchase plan on Thursday, November 2nd that allows the company to repurchase $300.00 million in shares. This repurchase authorization allows the financial services provider to purchase shares of its stock through open market purchases. Shares repurchase plans are usually an indication that the company’s management believes its shares are undervalued.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 29th. Shareholders of record on Wednesday, November 15th will be paid a $0.142 dividend. The ex-dividend date of this dividend is Tuesday, November 14th. This represents a $0.57 dividend on an annualized basis and a yield of 1.57%. Assured Guaranty’s payout ratio is 8.21%.
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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