Assured Guaranty Ltd. (NYSE:AGO) Stake Increased by TCW Group Inc.
TCW Group Inc. lifted its stake in shares of Assured Guaranty Ltd. (NYSE:AGO) by 3.8% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 75,704 shares of the financial services provider’s stock after acquiring an additional 2,767 shares during the quarter. TCW Group Inc.’s holdings in Assured Guaranty were worth $3,363,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Norges Bank bought a new stake in Assured Guaranty during the 4th quarter valued at approximately $58,425,000. Robeco Institutional Asset Management B.V. boosted its stake in Assured Guaranty by 113.2% during the 1st quarter. Robeco Institutional Asset Management B.V. now owns 2,120,713 shares of the financial services provider’s stock valued at $94,223,000 after purchasing an additional 1,126,218 shares during the period. Aurelius Capital Management LP bought a new stake in Assured Guaranty during the 4th quarter valued at approximately $39,272,000. APG Asset Management N.V. boosted its stake in Assured Guaranty by 398.2% during the 4th quarter. APG Asset Management N.V. now owns 1,079,997 shares of the financial services provider’s stock valued at $36,165,000 after purchasing an additional 863,197 shares during the period. Finally, Northern Trust Corp boosted its stake in Assured Guaranty by 84.9% during the 4th quarter. Northern Trust Corp now owns 1,419,569 shares of the financial services provider’s stock valued at $54,341,000 after purchasing an additional 651,982 shares during the period. Institutional investors own 96.21% of the company’s stock.
Separately, MKM Partners increased their target price on Assured Guaranty to $65.00 and gave the company a “buy” rating in a research note on Friday, May 10th.
Assured Guaranty (NYSE:AGO) last announced its earnings results on Thursday, May 9th. The financial services provider reported $0.82 earnings per share for the quarter, beating the consensus estimate of $0.75 by $0.07. Assured Guaranty had a return on equity of 6.25% and a net margin of 41.81%. The firm had revenue of $234.00 million during the quarter, compared to the consensus estimate of $228.29 million. During the same quarter in the prior year, the company earned $1.33 EPS. The firm’s revenue for the quarter was down 20.1% compared to the same quarter last year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 5th. Investors of record on Wednesday, May 22nd were paid a dividend of $0.18 per share. The ex-dividend date of this dividend was Tuesday, May 21st. This represents a $0.72 annualized dividend and a yield of 1.72%.
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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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