Raymond James Financial Services Advisors Inc. Raises Stake in Assured Guaranty Ltd. (AGO)
Raymond James Financial Services Advisors Inc. raised its position in Assured Guaranty Ltd. (NYSE:AGO) by 5.3% during the first quarter, Holdings Channel reports. The fund owned 9,898 shares of the financial services provider’s stock after buying an additional 500 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in Assured Guaranty were worth $367,000 at the end of the most recent reporting period.
Other large investors have also added to or reduced their stakes in the company. Creative Planning raised its stake in Assured Guaranty by 36.7% in the first quarter. Creative Planning now owns 7,516 shares of the financial services provider’s stock worth $279,000 after buying an additional 2,016 shares during the last quarter. Advisors Asset Management Inc. boosted its position in shares of Assured Guaranty by 16.8% in the first quarter. Advisors Asset Management Inc. now owns 7,967 shares of the financial services provider’s stock valued at $296,000 after buying an additional 1,147 shares during the last quarter. Wexford Capital LP purchased a new position in shares of Assured Guaranty during the fourth quarter valued at $382,000. James Investment Research Inc. purchased a new position in shares of Assured Guaranty during the first quarter valued at $394,000. Finally, Trexquant Investment LP purchased a new position in shares of Assured Guaranty during the first quarter valued at $449,000. 99.32% of the stock is owned by institutional investors and hedge funds.
Assured Guaranty Ltd. (AGO) opened at 41.98 on Friday. The firm has a market cap of $5.11 billion, a PE ratio of 4.86 and a beta of 1.74. The stock’s 50 day moving average is $39.46 and its 200 day moving average is $39.10. Assured Guaranty Ltd. has a 12 month low of $23.42 and a 12 month high of $42.94.
The business also recently declared a quarterly dividend, which was paid on Wednesday, May 31st. Investors of record on Wednesday, May 17th were given a dividend of $0.1425 per share. This represents a $0.57 annualized dividend and a yield of 1.36%. The ex-dividend date of this dividend was Monday, May 15th. Assured Guaranty’s dividend payout ratio (DPR) is presently 6.57%.
Several brokerages have recently weighed in on AGO. BidaskClub raised shares of Assured Guaranty from a “sell” rating to a “hold” rating in a research report on Friday, June 9th. BTIG Research reissued a “buy” rating and set a $49.00 price target on shares of Assured Guaranty in a research report on Sunday, May 28th. Finally, Keefe, Bruyette & Woods reissued a “hold” rating and set a $42.00 price target on shares of Assured Guaranty in a research report on Thursday, April 6th.
In related news, insider Howard Albert sold 12,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 10th. The stock was sold at an average price of $39.19, for a total transaction of $470,280.00. Following the transaction, the insider now directly owns 169,314 shares of the company’s stock, valued at approximately $6,635,415.66. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 2.62% of the company’s stock.
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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