Assured Guaranty Ltd. (AGO) Stake Raised by Northern Trust Corp

Northern Trust Corp lifted its position in Assured Guaranty Ltd. (NYSE:AGO) by 2.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,000,411 shares of the financial services provider’s stock after buying an additional 24,924 shares during the quarter. Northern Trust Corp’s holdings in Assured Guaranty were worth $35,744,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Sei Investments Co. lifted its holdings in shares of Assured Guaranty by 9.1% in the second quarter. Sei Investments Co. now owns 85,682 shares of the financial services provider’s stock worth $3,062,000 after buying an additional 7,152 shares in the last quarter. Stevens Capital Management LP purchased a new stake in shares of Assured Guaranty in the second quarter worth about $2,115,000. LPL Financial LLC lifted its holdings in shares of Assured Guaranty by 65.5% in the first quarter. LPL Financial LLC now owns 21,459 shares of the financial services provider’s stock worth $777,000 after buying an additional 8,496 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. lifted its holdings in shares of Assured Guaranty by 52.4% in the second 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 buying an additional 141,897 shares in the last quarter. Finally, Federated Investors Inc. PA lifted its holdings in shares of Assured Guaranty by 68.4% in the second quarter. Federated Investors Inc. PA now owns 372,891 shares of the financial services provider’s stock worth $13,323,000 after buying an additional 151,450 shares in the last quarter. 95.69% of the stock is currently owned by hedge funds and other institutional investors.

A number of equities research analysts have recently issued reports on the stock. ValuEngine raised shares of Assured Guaranty from a “sell” rating to a “hold” rating in a report on Tuesday, September 4th. Keefe, Bruyette & Woods reaffirmed a “buy” rating and issued a $48.00 target price on shares of Assured Guaranty in a research note on Friday, August 3rd.

Shares of AGO opened at $40.88 on Friday. The company has a market capitalization of $4.44 billion, a P/E ratio of 10.12 and a beta of 1.38. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 0.19. Assured Guaranty Ltd. has a 1-year low of $32.97 and a 1-year high of $43.07.

Assured Guaranty (NYSE:AGO) last announced 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). The company had revenue of $221.00 million during the quarter, compared to analysts’ expectations of $236.91 million. Assured Guaranty had a net margin of 37.52% and a return on equity of 7.02%. The company’s revenue for the quarter was down 28.2% compared to the same quarter last year. During the same period in the prior year, the business earned $1.16 earnings per share.

In related news, 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 value of $1,243,774.32. Following the sale, the insider now directly owns 188,952 shares of the company’s stock, valued at $8,004,006.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 transaction of $8,656,085.10. Following the completion of the sale, the chief executive officer now directly owns 1,180,680 shares in the company, valued at $48,195,357.60. The disclosure for this sale can be found here. Insiders sold 380,734 shares of company stock worth $15,571,121 over the last ninety days. 2.62% of the stock is currently owned by insiders.

Assured Guaranty Profile

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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Institutional Ownership by Quarter for Assured Guaranty (NYSE:AGO)

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