AQR Capital Management LLC boosted its stake in shares of Assured Guaranty Ltd. (NYSE:AGO) by 43.6% during the first quarter, Holdings Channel reports. The firm owned 3,805,606 shares of the financial services provider’s stock after buying an additional 1,155,924 shares during the period. AQR Capital Management LLC owned about 3.13% of Assured Guaranty worth $141,226,000 as of its most recent SEC filing.
Several other large investors have also recently made changes to their positions in the stock. Parallel Advisors LLC increased its stake in shares of Assured Guaranty by 2.3% in the first quarter. Parallel Advisors LLC now owns 3,788 shares of the financial services provider’s stock valued at $144,000 after buying an additional 84 shares during the period. Suntrust Banks Inc. increased its stake in shares of Assured Guaranty by 0.4% in the first quarter. Suntrust Banks Inc. now owns 22,140 shares of the financial services provider’s stock valued at $821,000 after buying an additional 93 shares during the period. Raymond James Financial Services Advisors Inc. increased its stake in shares of Assured Guaranty by 2.7% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 9,398 shares of the financial services provider’s stock valued at $355,000 after buying an additional 247 shares during the period. Amalgamated Bank increased its stake in shares of Assured Guaranty by 3.4% in the first quarter. Amalgamated Bank now owns 19,114 shares of the financial services provider’s stock valued at $709,000 after buying an additional 621 shares during the period. Finally, TCW Group Inc. increased its stake in shares of Assured Guaranty by 0.9% in the first quarter. TCW Group Inc. now owns 87,799 shares of the financial services provider’s stock valued at $3,258,000 after buying an additional 776 shares during the period. 99.32% of the stock is owned by institutional investors.
Shares of Assured Guaranty Ltd. (NYSE AGO) remained flat at $41.98 during midday trading on Friday. 1,137,384 shares of the company traded hands. Assured Guaranty Ltd. has a 12 month low of $23.42 and a 12 month high of $42.94. The company has a 50 day moving average of $39.46 and a 200-day moving average of $39.10. The firm has a market capitalization of $5.11 billion, a PE ratio of 4.86 and a beta of 1.74.
The company also recently announced a quarterly dividend, which was paid on Wednesday, May 31st. Investors of record on Wednesday, May 17th were given a dividend of $0.1425 per share. The ex-dividend date was Monday, May 15th. This represents a $0.57 dividend on an annualized basis and a yield of 1.36%. Assured Guaranty’s payout ratio is 6.57%.
Several brokerages recently weighed in on AGO. BTIG Research reissued a “buy” rating and set a $49.00 price target on shares of Assured Guaranty in a research report on Sunday, May 28th. Keefe, Bruyette & Woods reissued a “hold” rating and set a $42.00 price target on shares of Assured Guaranty in a research report on Thursday, April 6th. Finally, BidaskClub raised shares of Assured Guaranty from a “sell” rating to a “hold” rating in a research report on Friday, June 9th.
In related news, insider Howard Albert sold 12,000 shares of the stock in a transaction that occurred on Wednesday, May 10th. The shares were sold at an average price of $39.19, for a total transaction of $470,280.00. Following the completion of the sale, the insider now owns 169,314 shares of the company’s stock, valued at $6,635,415.66. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 2.62% of the company’s stock.
About Assured Guaranty
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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