Putnam Investments LLC Has $235.04 Million Holdings in Assured Guaranty Ltd. (AGO)
Putnam Investments LLC decreased its stake in Assured Guaranty Ltd. (NYSE:AGO) by 2.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 6,578,255 shares of the financial services provider’s stock after selling 145,376 shares during the quarter. Putnam Investments LLC owned 6.07% of Assured Guaranty worth $235,041,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors also recently added to or reduced their stakes in the business. Venor Capital Management LP lifted its stake in Assured Guaranty by 4.0% in the second quarter. Venor Capital Management LP now owns 469,500 shares of the financial services provider’s stock valued at $16,775,000 after buying an additional 18,000 shares during the period. Banco de Sabadell S.A lifted its stake in Assured Guaranty by 5.6% in the second 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. Tower Research Capital LLC TRC lifted its stake in Assured Guaranty by 179.0% in the second quarter. Tower Research Capital LLC TRC now owns 8,057 shares of the financial services provider’s stock valued at $288,000 after buying an additional 5,169 shares during the period. Vident Investment Advisory LLC acquired a new position in Assured Guaranty in the second quarter valued at about $707,000. Finally, Signaturefd LLC lifted its stake in Assured Guaranty by 82.0% in the second quarter. Signaturefd LLC now owns 6,237 shares of the financial services provider’s stock valued at $223,000 after buying an additional 2,811 shares during the period. 95.86% of the stock is currently owned by hedge funds and other institutional investors.
Several equities analysts have weighed in on the company. ValuEngine raised Assured Guaranty from a “sell” rating to a “hold” rating in a research note on Tuesday, September 4th. Keefe, Bruyette & Woods reissued a “buy” rating and issued a $48.00 target price on shares of Assured Guaranty in a research note on Friday, August 3rd. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Assured Guaranty presently has a consensus rating of “Buy” and a consensus price target of $48.67.
Assured Guaranty (NYSE:AGO) last released its quarterly earnings results on Wednesday, August 1st. The financial services provider reported $0.66 EPS for the quarter, missing the Zacks’ consensus estimate of $0.74 by ($0.08). The business had revenue of $221.00 million for the quarter, compared to analyst estimates of $236.91 million. Assured Guaranty had a return on equity of 7.02% and a net margin of 37.52%. The company’s revenue for the quarter was down 28.2% compared to the same quarter last year. During the same period in the prior year, the business earned $1.16 EPS.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 29th. Stockholders of record on Wednesday, August 15th were given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.58%. The ex-dividend date of this dividend was Tuesday, August 14th.
In other news, CEO Dominic Frederico sold 118,294 shares of the firm’s stock in a transaction dated Friday, August 31st. The stock was sold at an average price of $40.73, for a total transaction of $4,818,114.62. Following the sale, the chief executive officer now owns 1,180,680 shares of the company’s stock, valued at $48,089,096.40. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Patrick W. Kenny sold 4,300 shares of the firm’s stock in a transaction dated Thursday, September 6th. The stock was 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 disclosure for this sale can be found here. In the last ninety days, insiders have sold 334,649 shares of company stock worth $13,651,403. 2.62% of the stock is currently owned by 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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