South Dakota Investment Council lessened its position in shares of Assured Guaranty Ltd. (NYSE:AGO) by 15.0% during the second quarter, HoldingsChannel reports. The institutional investor owned 56,500 shares of the financial services provider’s stock after selling 10,000 shares during the quarter. South Dakota Investment Council’s holdings in Assured Guaranty were worth $2,378,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other large investors have also recently added to or reduced their stakes in AGO. Steward Partners Investment Advisory LLC acquired a new stake in shares of Assured Guaranty in the second quarter valued at approximately $32,000. Rockefeller Capital Management L.P. increased its holdings in shares of Assured Guaranty by 1,700.0% in the 2nd quarter. Rockefeller Capital Management L.P. now owns 936 shares of the financial services provider’s stock valued at $39,000 after acquiring an additional 884 shares during the period. Icon Wealth Partners LLC purchased a new stake in Assured Guaranty in the 1st quarter valued at $53,000. Signaturefd LLC raised its position in Assured Guaranty by 13.3% in the 2nd quarter. Signaturefd LLC now owns 5,989 shares of the financial services provider’s stock valued at $252,000 after purchasing an additional 703 shares during the last quarter. Finally, AGF Investments LLC raised its position in Assured Guaranty by 39.8% in the 2nd quarter. AGF Investments LLC now owns 7,380 shares of the financial services provider’s stock valued at $311,000 after purchasing an additional 2,100 shares during the last quarter. Hedge funds and other institutional investors own 98.32% of the company’s stock.
Assured Guaranty stock traded up $0.16 during mid-day trading on Wednesday, reaching $45.15. 13,205 shares of the company were exchanged, compared to its average volume of 548,349. Assured Guaranty Ltd. has a twelve month low of $36.13 and a twelve month high of $47.97. The firm’s 50-day simple moving average is $43.69 and its two-hundred day simple moving average is $43.90. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.65 and a current ratio of 0.65. The firm has a market cap of $4.42 billion, a PE ratio of 9.87 and a beta of 1.04.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 4th. Shareholders of record on Wednesday, August 21st were paid a $0.18 dividend. The ex-dividend date was Tuesday, August 20th. This represents a $0.72 annualized dividend and a yield of 1.59%.
Several brokerages have issued reports on AGO. ValuEngine downgraded shares of Assured Guaranty from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. UBS Group upped their target price on shares of Assured Guaranty from $47.00 to $50.00 and gave the company a “buy” rating in a report on Monday, August 19th. Finally, BTIG Research reiterated a “buy” rating and set a $52.00 target price on shares of Assured Guaranty in a research note on Sunday, August 11th.
In other Assured Guaranty news, CEO Dominic Frederico sold 30,300 shares of the company’s stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $43.70, for a total transaction of $1,324,110.00. Following the completion of the transaction, the chief executive officer now owns 1,300,031 shares in the company, valued at approximately $56,811,354.70. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 2.81% of the stock is currently owned by corporate insiders.
Assured Guaranty 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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