First Trust Advisors LP Decreases Stake in Assured Guaranty Ltd. (NYSE:AGO)
First Trust Advisors LP reduced its stake in shares of Assured Guaranty Ltd. (NYSE:AGO) by 41.7% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 271,466 shares of the financial services provider’s stock after selling 193,964 shares during the period. First Trust Advisors LP owned approximately 0.29% of Assured Guaranty worth $7,001,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Victory Capital Management Inc. boosted its position in shares of Assured Guaranty by 34.3% during the 4th quarter. Victory Capital Management Inc. now owns 34,274 shares of the financial services provider’s stock worth $1,680,000 after purchasing an additional 8,747 shares in the last quarter. Norges Bank purchased a new stake in shares of Assured Guaranty in the 4th quarter worth about $74,818,000. Eaton Vance Management purchased a new stake in shares of Assured Guaranty in the 4th quarter worth about $247,000. Macquarie Group Ltd. boosted its position in shares of Assured Guaranty by 15.2% in the 4th quarter. Macquarie Group Ltd. now owns 39,622 shares of the financial services provider’s stock worth $1,942,000 after buying an additional 5,222 shares in the last quarter. Finally, Amalgamated Bank boosted its position in shares of Assured Guaranty by 6.3% in the 4th quarter. Amalgamated Bank now owns 20,882 shares of the financial services provider’s stock worth $1,024,000 after buying an additional 1,239 shares in the last quarter. Institutional investors own 97.88% of the company’s stock.
In other news, CIO Andrew T. Feldstein bought 6,930 shares of the business’s stock in a transaction that occurred on Monday, March 16th. The stock was purchased at an average price of $30.00 per share, with a total value of $207,900.00. Following the purchase, the executive now owns 525,492 shares of the company’s stock, valued at approximately $15,764,760. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CIO Andrew T. Feldstein bought 26,580 shares of the business’s stock in a transaction that occurred on Thursday, March 19th. The stock was purchased at an average cost of $18.87 per share, with a total value of $501,564.60. Following the purchase, the executive now directly owns 545,882 shares in the company, valued at approximately $10,300,793.34. The disclosure for this purchase can be found here. Insiders purchased a total of 90,721 shares of company stock valued at $2,360,870 in the last three months. 3.75% of the stock is currently owned by corporate insiders.
Assured Guaranty (NYSE:AGO) last announced its earnings results on Thursday, May 7th. The financial services provider reported $0.36 earnings per share for the quarter, missing the consensus estimate of $0.76 by ($0.40). Assured Guaranty had a net margin of 33.91% and a return on equity of 5.14%. The firm had revenue of $190.00 million during the quarter, compared to analyst estimates of $231.56 million. During the same period in the previous year, the firm posted $0.82 EPS. The company’s revenue for the quarter was down 18.8% compared to the same quarter last year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 3rd. Investors of record on Wednesday, May 20th will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 3.04%. The ex-dividend date of this dividend is Tuesday, May 19th.
Several equities research analysts recently commented on the stock. TheStreet lowered shares of Assured Guaranty from a “b-” rating to a “c+” rating in a research report on Monday, February 10th. ValuEngine lowered shares of Assured Guaranty from a “hold” rating to a “sell” rating in a research report on Thursday, April 2nd.
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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