Man Group plc Has $85.80 Million Stock Holdings in Assured Guaranty Ltd. (NYSE:AGO)

Man Group plc trimmed its holdings in shares of Assured Guaranty Ltd. (NYSE:AGO) by 0.2% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,038,970 shares of the financial services provider’s stock after selling 4,654 shares during the period. Man Group plc’s holdings in Assured Guaranty were worth $85,800,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of AGO. APG Asset Management N.V. boosted its stake in shares of Assured Guaranty by 27.2% during the 2nd quarter. APG Asset Management N.V. now owns 2,489,097 shares of the financial services provider’s stock worth $91,975,000 after buying an additional 532,400 shares during the last quarter. Robeco Institutional Asset Management B.V. boosted its stake in shares of Assured Guaranty by 23.5% during the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 2,618,852 shares of the financial services provider’s stock worth $110,197,000 after buying an additional 498,139 shares during the last quarter. Martingale Asset Management L P boosted its stake in shares of Assured Guaranty by 2,396.9% during the 1st quarter. Martingale Asset Management L P now owns 472,140 shares of the financial services provider’s stock worth $20,979,000 after buying an additional 453,231 shares during the last quarter. Kahn Brothers Group Inc. DE boosted its stake in shares of Assured Guaranty by 26.4% during the 2nd quarter. Kahn Brothers Group Inc. DE now owns 1,566,450 shares of the financial services provider’s stock worth $65,916,000 after buying an additional 326,930 shares during the last quarter. Finally, Balyasny Asset Management LLC boosted its stake in shares of Assured Guaranty by 377.2% during the 2nd quarter. Balyasny Asset Management LLC now owns 296,642 shares of the financial services provider’s stock worth $12,483,000 after buying an additional 234,477 shares during the last quarter. Institutional investors own 97.77% of the company’s stock.

NYSE:AGO traded up $0.13 during mid-day trading on Thursday, hitting $45.43. The stock had a trading volume of 19,019 shares, compared to its average volume of 536,061. Assured Guaranty Ltd. has a twelve month low of $36.13 and a twelve month high of $47.97. The stock has a market cap of $4.48 billion, a price-to-earnings ratio of 9.93 and a beta of 1.04. The company’s 50 day simple moving average is $43.89 and its 200 day simple moving average is $44.03. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.65 and a current ratio of 0.65.

Assured Guaranty (NYSE:AGO) last issued its earnings results on Wednesday, August 7th. The financial services provider reported $1.38 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.76 by $0.62. Assured Guaranty had a net margin of 46.89% and a return on equity of 7.24%. The business had revenue of $266.00 million during the quarter, compared to the consensus estimate of $222.39 million. During the same period last year, the business posted $0.66 EPS. Assured Guaranty’s revenue was up 20.9% on a year-over-year basis.

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 4th. Investors of record on Wednesday, August 21st were paid a $0.18 dividend. The ex-dividend date was Tuesday, August 20th. This represents a $0.72 annualized dividend and a yield of 1.58%.

AGO has been the subject of a number of recent research reports. BTIG Research restated a “buy” rating and set a $52.00 price objective on shares of Assured Guaranty in a research note on Sunday, August 11th. UBS Group increased their price objective on shares of Assured Guaranty from $47.00 to $50.00 and gave the stock a “buy” rating in a research note on Monday, August 19th. Finally, ValuEngine downgraded shares of Assured Guaranty from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st.

In other Assured Guaranty news, CEO Dominic Frederico sold 30,300 shares of the firm’s stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $43.70, for a total transaction of $1,324,110.00. Following the completion of the sale, the chief executive officer now directly owns 1,300,031 shares in the company, valued at $56,811,354.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Howard Albert sold 14,058 shares of the firm’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $44.27, for a total transaction of $622,347.66. Following the sale, the insider now owns 191,143 shares of the company’s stock, valued at $8,461,900.61. The disclosure for this sale can be found here. Insiders sold a total of 50,986 shares of company stock valued at $2,245,712 over the last quarter. 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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Institutional Ownership by Quarter for Assured Guaranty (NYSE:AGO)

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