Versant Capital Management Inc lowered its stake in Assured Guaranty Ltd. (NYSE:AGO – Get Rating) by 22.4% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 866 shares of the financial services provider's stock after selling 250 shares during the quarter. Versant Capital Management Inc's holdings in Assured Guaranty were worth $42,000 as of its most recent filing with the SEC.
Other large investors have also modified their holdings of the company. Quantbot Technologies LP purchased a new position in Assured Guaranty in the 1st quarter worth approximately $30,000. TCI Wealth Advisors Inc. boosted its stake in shares of Assured Guaranty by 59.8% in the third quarter. TCI Wealth Advisors Inc. now owns 532 shares of the financial services provider's stock valued at $26,000 after purchasing an additional 199 shares during the period. Raymond James Financial Services Advisors Inc. acquired a new stake in Assured Guaranty during the 1st quarter valued at $203,000. Contravisory Investment Management Inc. acquired a new stake in Assured Guaranty during the 3rd quarter valued at $164,000. Finally, Utah Retirement Systems purchased a new stake in Assured Guaranty during the 1st quarter worth $223,000. Institutional investors and hedge funds own 90.51% of the company's stock.
Get Assured Guaranty alerts:Assured Guaranty Stock Down 4.8 %
NYSE AGO traded down $2.50 during trading hours on Wednesday, reaching $49.67. 239,584 shares of the company traded hands, compared to its average volume of 246,112. The stock has a market capitalization of $2.93 billion, a PE ratio of 26.89 and a beta of 1.12. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.32. Assured Guaranty Ltd. has a 12 month low of $45.91 and a 12 month high of $67.13. The company has a 50 day moving average of $60.71 and a two-hundred day moving average of $58.46.
Assured Guaranty Increases Dividend
The business also recently declared 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 is a boost from Assured Guaranty's previous quarterly dividend of $0.25. The ex-dividend date is Tuesday, March 7th. This represents a $1.12 annualized dividend and a dividend yield of 2.25%. Assured Guaranty's dividend payout ratio (DPR) is presently 57.73%.
Analyst Upgrades and Downgrades
A number of equities analysts have weighed in on the stock. Compass Point started coverage on shares of Assured Guaranty in a research report on Monday, November 28th. They issued a "buy" rating and a $84.00 price objective for the company. StockNews.com downgraded Assured Guaranty from a "hold" rating to a "sell" rating in a report on Friday, March 3rd. Finally, Roth Capital restated a "buy" rating on shares of Assured Guaranty in a research note on Wednesday, March 1st. One research 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. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $76.33.
About Assured Guaranty
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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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