Lombard Odier Asset Management USA Corp grew its position in Assured Guaranty Ltd. (NYSE:AGO) by 54.4% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 50,163 shares of the financial services provider’s stock after purchasing an additional 17,666 shares during the quarter. Lombard Odier Asset Management USA Corp’s holdings in Assured Guaranty were worth $2,121,000 as of its most recent SEC filing.
Several other hedge funds have also recently modified their holdings of AGO. FMR LLC lifted its holdings in shares of Assured Guaranty by 23.6% in the 1st quarter. FMR LLC now owns 83,788 shares of the financial services provider’s stock worth $3,723,000 after buying an additional 15,987 shares during the period. Wells Fargo & Company MN lifted its holdings in shares of Assured Guaranty by 112.1% in the 4th quarter. Wells Fargo & Company MN now owns 103,849 shares of the financial services provider’s stock worth $3,270,000 after buying an additional 54,876 shares during the period. Teacher Retirement System of Texas purchased a new stake in shares of Assured Guaranty in the 4th quarter worth $244,000. Credit Suisse AG lifted its holdings in shares of Assured Guaranty by 2.4% in the 4th quarter. Credit Suisse AG now owns 70,350 shares of the financial services provider’s stock worth $2,215,000 after buying an additional 1,677 shares during the period. Finally, The Manufacturers Life Insurance Company lifted its holdings in shares of Assured Guaranty by 26.1% in the 4th quarter. The Manufacturers Life Insurance Company now owns 190,944 shares of the financial services provider’s stock worth $6,013,000 after buying an additional 39,468 shares during the period. Institutional investors and hedge funds own 92.98% of the company’s stock.
In related news, insider Russell B. Brewer II sold 1,141 shares of the company’s stock in a transaction dated Thursday, May 20th. The stock was sold at an average price of $47.00, for a total transaction of $53,627.00. Following the transaction, the insider now directly owns 218,588 shares of the company’s stock, valued at approximately $10,273,636. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Howard Albert sold 50,000 shares of the company’s stock in a transaction dated Thursday, May 13th. The shares were sold at an average price of $46.16, for a total value of $2,308,000.00. Following the transaction, the insider now directly owns 156,240 shares in the company, valued at $7,212,038.40. The disclosure for this sale can be found here. Over the last three months, insiders sold 70,000 shares of company stock valued at $3,248,000. Corporate insiders own 3.82% of the company’s stock.
Shares of AGO traded down $0.51 during trading hours on Thursday, hitting $46.47. The company had a trading volume of 1,036 shares, compared to its average volume of 394,610. The company has a market cap of $3.50 billion, a P/E ratio of 9.25 and a beta of 1.18. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.58 and a quick ratio of 0.58. Assured Guaranty Ltd. has a one year low of $18.45 and a one year high of $52.28. The business’s fifty day moving average price is $46.95.
Assured Guaranty (NYSE:AGO) last released its quarterly earnings results on Wednesday, May 5th. The financial services provider reported $0.55 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.60 by ($0.05). The company had revenue of $179.00 million during the quarter, compared to the consensus estimate of $197.31 million. Assured Guaranty had a return on equity of 4.05% and a net margin of 35.73%. The company’s revenue was down 5.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.36 earnings per share.
The business also recently declared a quarterly dividend, which was paid on Wednesday, June 2nd. Stockholders of record on Wednesday, May 19th were given a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 1.89%. The ex-dividend date of this dividend was Tuesday, May 18th.
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. The company operates in two segments, Insurance and Asset Management. It offers financial guaranty insurance that protects holders of debt instruments and other monetary obligations from defaults in scheduled payments.
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