JPMorgan Chase & Co. boosted its holdings in shares of Assured Guaranty Ltd. (NYSE:AGO) by 58.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,772,951 shares of the financial services provider’s stock after acquiring an additional 652,786 shares during the quarter. JPMorgan Chase & Co. owned 1.51% of Assured Guaranty worth $67,780,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also bought and sold shares of the company. Tower Research Capital LLC TRC grew its holdings in Assured Guaranty by 962.5% during the 2nd quarter. Tower Research Capital LLC TRC now owns 4,250 shares of the financial services provider’s stock worth $177,000 after acquiring an additional 3,850 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Assured Guaranty by 11.7% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,150 shares of the financial services provider’s stock worth $215,000 after acquiring an additional 539 shares during the last quarter. Quantum Capital Management bought a new stake in Assured Guaranty during the 2nd quarter worth approximately $218,000. FineMark National Bank & Trust bought a new stake in Assured Guaranty during the 3rd quarter worth approximately $259,000. Finally, Zweig DiMenna Associates LLC bought a new stake in Assured Guaranty during the 2nd quarter worth approximately $288,000. 95.87% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Assured Guaranty Ltd. (NYSE AGO) opened at $35.29 on Thursday. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.56 and a quick ratio of 0.56. Assured Guaranty Ltd. has a 12 month low of $35.25 and a 12 month high of $45.73. The company has a market cap of $4,168.44, a price-to-earnings ratio of 6.29 and a beta of 1.64.
Assured Guaranty announced that its board has approved a share buyback plan on Thursday, November 2nd that permits the company to repurchase $300.00 million in outstanding shares. This repurchase authorization permits the financial services provider to repurchase shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its stock is undervalued.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 29th. Stockholders of record on Wednesday, November 15th were paid a $0.142 dividend. This represents a $0.57 dividend on an annualized basis and a dividend yield of 1.61%. The ex-dividend date was Tuesday, November 14th. Assured Guaranty’s dividend payout ratio is currently 8.21%.
A number of equities research analysts have weighed in on AGO shares. MKM Partners reissued a “buy” rating on shares of Assured Guaranty in a report on Thursday, October 5th. UBS reissued a “buy” rating and set a $47.00 target price (down from $49.00) on shares of Assured Guaranty in a report on Wednesday, October 4th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $47.00.
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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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