Prudential Financial Inc. decreased its position in shares of Assured Guaranty Ltd. (NYSE:AGO) by 20.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 170,175 shares of the financial services provider’s stock after selling 42,800 shares during the quarter. Prudential Financial Inc. owned approximately 0.17% of Assured Guaranty worth $7,161,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Geode Capital Management LLC raised its holdings in shares of Assured Guaranty by 5.8% in the fourth quarter. Geode Capital Management LLC now owns 1,107,182 shares of the financial services provider’s stock valued at $42,382,000 after acquiring an additional 60,746 shares in the last quarter. First Republic Investment Management Inc. raised its holdings in shares of Assured Guaranty by 23.3% in the 1st quarter. First Republic Investment Management Inc. now owns 11,173 shares of the financial services provider’s stock valued at $496,000 after purchasing an additional 2,109 shares in the last quarter. Raymond James & Associates raised its holdings in shares of Assured Guaranty by 2.0% in the 1st quarter. Raymond James & Associates now owns 222,778 shares of the financial services provider’s stock valued at $9,898,000 after purchasing an additional 4,357 shares in the last quarter. Thornburg Investment Management Inc. lifted its position in shares of Assured Guaranty by 6.0% in the 1st quarter. Thornburg Investment Management Inc. now owns 1,655,648 shares of the financial services provider’s stock worth $73,560,000 after purchasing an additional 93,321 shares during the period. Finally, New York State Common Retirement Fund boosted its stake in shares of Assured Guaranty by 3.8% during the first quarter. New York State Common Retirement Fund now owns 248,236 shares of the financial services provider’s stock valued at $11,029,000 after purchasing an additional 9,000 shares in the last quarter. 98.32% of the stock is currently owned by institutional investors and hedge funds.
Shares of NYSE AGO traded up $0.22 during mid-day trading on Wednesday, reaching $45.21. 7,415 shares of the company were exchanged, compared to its average volume of 548,349. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.18. The stock has a market cap of $4.42 billion, a price-to-earnings ratio of 9.87 and a beta of 1.04. Assured Guaranty Ltd. has a 1 year low of $36.13 and a 1 year high of $47.97. The firm has a 50-day moving average of $43.69 and a 200 day moving average of $43.90.
The company also recently declared a quarterly dividend, which was paid on Wednesday, September 4th. Stockholders of record on Wednesday, August 21st were issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.59%. The ex-dividend date was Tuesday, August 20th.
Several brokerages recently issued reports on AGO. UBS Group lifted their price objective on shares of Assured Guaranty from $47.00 to $50.00 and gave the company a “buy” rating in a report on Monday, August 19th. ValuEngine lowered Assured Guaranty from a “hold” rating to a “sell” rating in a report on Thursday, August 1st. Finally, BTIG Research reaffirmed a “buy” rating and set a $52.00 target price on shares of Assured Guaranty in a research report on Sunday, August 11th.
In other news, CEO Dominic Frederico sold 30,300 shares of the firm’s stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $43.70, for a total value of $1,324,110.00. Following the sale, the chief executive officer now directly owns 1,300,031 shares in the company, valued at approximately $56,811,354.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 2.81% of the stock is currently owned by company insiders.
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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