BidaskClub cut shares of Assured Guaranty Ltd. (NYSE:AGO) from a buy rating to a hold rating in a research note issued to investors on Saturday.
A number of other research firms have also commented on AGO. Keefe, Bruyette & Woods reaffirmed a market perform rating and set a $42.00 price target (up previously from $39.00) on shares of Assured Guaranty in a research report on Tuesday, February 28th. BTIG Research reaffirmed a buy rating and set a $49.00 price target on shares of Assured Guaranty in a research report on Sunday, May 28th.
Shares of Assured Guaranty (NYSE AGO) traded down 1.19% during trading on Friday, hitting $40.65. The stock had a trading volume of 1,571,459 shares. The firm has a 50 day moving average of $39.67 and a 200 day moving average of $39.22. The company has a market capitalization of $4.95 billion, a price-to-earnings ratio of 4.70 and a beta of 1.74. Assured Guaranty has a 1-year low of $23.42 and a 1-year high of $42.94.
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 $0.1425 dividend. This represents a $0.57 dividend on an annualized basis and a yield of 1.40%. The ex-dividend date of this dividend was Monday, May 15th. Assured Guaranty’s dividend payout ratio is presently 6.57%.
In related news, insider Howard Albert sold 12,000 shares of Assured Guaranty stock in a transaction that occurred on Wednesday, May 10th. The stock was sold at an average price of $39.19, for a total value of $470,280.00. Following the sale, the insider now owns 169,314 shares of the company’s stock, valued at approximately $6,635,415.66. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 2.62% of the stock is currently owned by company insiders.
A number of large investors have recently made changes to their positions in AGO. Parallel Advisors LLC raised 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 worth $144,000 after buying an additional 84 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Assured Guaranty during the first quarter worth about $205,000. Creative Planning raised its stake in shares of Assured Guaranty by 36.7% in the first quarter. Creative Planning now owns 7,516 shares of the financial services provider’s stock worth $279,000 after buying an additional 2,016 shares in the last quarter. Advisors Asset Management Inc. raised its stake in shares of Assured Guaranty by 16.8% in the first quarter. Advisors Asset Management Inc. now owns 7,967 shares of the financial services provider’s stock worth $296,000 after buying an additional 1,147 shares in the last quarter. Finally, Strategic Global Advisors LLC purchased a new stake in shares of Assured Guaranty during the first quarter worth about $339,000. 99.14% of the stock is currently owned by institutional investors and hedge funds.
Assured Guaranty Company Profile
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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