Millennium Management LLC decreased its position in shares of Assured Guaranty Ltd. (NYSE:AGO) by 93.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 57,319 shares of the financial services provider’s stock after selling 850,504 shares during the period. Millennium Management LLC owned about 0.05% of Assured Guaranty worth $2,048,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Sei Investments Co. boosted its position in shares of Assured Guaranty by 9.1% during the 2nd quarter. Sei Investments Co. now owns 85,682 shares of the financial services provider’s stock worth $3,062,000 after acquiring an additional 7,152 shares in the last quarter. Stevens Capital Management LP acquired a new stake in shares of Assured Guaranty during the 2nd quarter worth approximately $2,115,000. LPL Financial LLC boosted its position in shares of Assured Guaranty by 65.5% during the 1st quarter. LPL Financial LLC now owns 21,459 shares of the financial services provider’s stock worth $777,000 after acquiring an additional 8,496 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. boosted its position in shares of Assured Guaranty by 52.4% during the 2nd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 412,630 shares of the financial services provider’s stock worth $14,743,000 after acquiring an additional 141,897 shares in the last quarter. Finally, Federated Investors Inc. PA boosted its position in shares of Assured Guaranty by 68.4% during the 2nd quarter. Federated Investors Inc. PA now owns 372,891 shares of the financial services provider’s stock worth $13,323,000 after acquiring an additional 151,450 shares in the last quarter. Institutional investors and hedge funds own 95.61% of the company’s stock.
In other Assured Guaranty news, CEO Dominic Frederico sold 212,055 shares of the firm’s stock in a transaction that occurred on Tuesday, September 4th. The shares were sold at an average price of $40.82, for a total value of $8,656,085.10. Following the sale, the chief executive officer now owns 1,180,680 shares in the company, valued at $48,195,357.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Russell B. Brewer II sold 29,362 shares of the firm’s stock in a transaction that occurred on Friday, September 21st. The shares were sold at an average price of $42.36, for a total transaction of $1,243,774.32. Following the completion of the sale, the insider now owns 188,952 shares in the company, valued at approximately $8,004,006.72. The disclosure for this sale can be found here. Insiders sold 380,734 shares of company stock worth $15,571,121 in the last 90 days. Company insiders own 2.62% of the company’s stock.
Assured Guaranty (NYSE:AGO) last issued its earnings results on Wednesday, August 1st. The financial services provider reported $0.66 earnings per share for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.08). Assured Guaranty had a net margin of 37.52% and a return on equity of 7.02%. The company had revenue of $221.00 million during the quarter, compared to analyst estimates of $236.91 million. During the same quarter in the prior year, the business earned $1.16 EPS. The business’s quarterly revenue was down 28.2% on a year-over-year basis.
AGO has been the topic of several analyst reports. Keefe, Bruyette & Woods reiterated a “buy” rating and set a $48.00 price target on shares of Assured Guaranty in a research report on Friday, August 3rd. ValuEngine upgraded shares of Assured Guaranty from a “sell” rating to a “hold” rating in a research report on Tuesday, September 4th.
About Assured Guaranty
Assured Guaranty Ltd., through its subsidiaries, provides credit protection products to public finance, infrastructure, and structured finance markets in the United States and internationally. It offers financial guaranty insurance that protects holders of debt instruments and other monetary obligations from defaults in scheduled payments.
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