Cubist Systematic Strategies LLC reduced its stake in Assured Guaranty Ltd. (NYSE:AGO – Get Rating) by 4.9% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 14,632 shares of the financial services provider's stock after selling 752 shares during the quarter. Cubist Systematic Strategies LLC's holdings in Assured Guaranty were worth $709,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently made changes to their positions in AGO. Vanguard Group Inc. lifted its stake in shares of Assured Guaranty by 5.5% in the first quarter. Vanguard Group Inc. now owns 7,928,269 shares of the financial services provider's stock worth $504,714,000 after acquiring an additional 410,594 shares during the period. Reinhart Partners Inc. lifted its stake in Assured Guaranty by 62.1% in the third quarter. Reinhart Partners Inc. now owns 679,897 shares of the financial services provider's stock valued at $32,941,000 after buying an additional 260,507 shares during the period. Millennium Management LLC lifted its stake in Assured Guaranty by 102.8% in the second quarter. Millennium Management LLC now owns 380,816 shares of the financial services provider's stock valued at $21,246,000 after buying an additional 193,081 shares during the period. Philadelphia Financial Management of San Francisco LLC lifted its stake in Assured Guaranty by 83.9% in the second quarter. Philadelphia Financial Management of San Francisco LLC now owns 342,509 shares of the financial services provider's stock valued at $19,109,000 after buying an additional 156,256 shares during the period. Finally, Invesco Ltd. lifted its stake in Assured Guaranty by 25.5% in the first quarter. Invesco Ltd. now owns 550,201 shares of the financial services provider's stock valued at $35,027,000 after buying an additional 111,713 shares during the period. 90.51% of the stock is owned by institutional investors and hedge funds.
Get Assured Guaranty alerts:Assured Guaranty Price Performance
Shares of NYSE:AGO opened at $53.51 on Friday. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.32. Assured Guaranty Ltd. has a twelve month low of $45.91 and a twelve month high of $67.13. The stock's 50 day moving average is $61.13 and its 200-day moving average is $58.44. The firm has a market capitalization of $3.16 billion, a price-to-earnings ratio of 27.58 and a beta of 1.12.
Assured Guaranty Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 22nd. Stockholders of record on Wednesday, March 8th will be given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.09%. This is a positive change from Assured Guaranty's previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Tuesday, March 7th. Assured Guaranty's dividend payout ratio is presently 57.73%.
Analyst Ratings Changes
Several equities analysts have issued reports on AGO shares. Roth Capital reissued a "buy" rating on shares of Assured Guaranty in a research note on Wednesday, March 1st. Compass Point started coverage on Assured Guaranty in a research note on Monday, November 28th. They issued a "buy" rating and a $84.00 price target on the stock. Finally, StockNews.com lowered Assured Guaranty from a "hold" rating to a "sell" rating in a research note on Friday, March 3rd. One analyst has rated the stock with a sell rating, one has assigned a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $74.00.
Assured Guaranty Profile
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Assured Guaranty Ltd. is a holding company, which engages in the provision of credit protection products to the U.S. and international public finance, and structured finance markets through its subsidiaries. It operates through the following segments: Insurance and Asset Management. The Insurance segment includes the company's domestic and foreign insurance subsidiaries and their wholly-owned subsidiaries that provide credit protection products to the U.S.
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