Russell Investments Group Ltd. Reduces Stock Holdings in Assured Guaranty Ltd. (NYSE:AGO)

Russell Investments Group Ltd. trimmed its position in Assured Guaranty Ltd. (NYSE:AGO) by 6.8% during the 3rd quarter, HoldingsChannel reports. The firm owned 432,978 shares of the financial services provider’s stock after selling 31,751 shares during the period. Russell Investments Group Ltd.’s holdings in Assured Guaranty were worth $19,303,000 as of its most recent filing with the SEC.

A number of other large investors have also recently made changes to their positions in AGO. Amundi Pioneer Asset Management Inc. lifted its position in shares of Assured Guaranty by 48.7% during the 2nd quarter. Amundi Pioneer Asset Management Inc. now owns 345,833 shares of the financial services provider’s stock valued at $14,553,000 after buying an additional 113,226 shares in the last quarter. Capital Returns Management LLC lifted its position in shares of Assured Guaranty by 22.1% during the 2nd quarter. Capital Returns Management LLC now owns 568,694 shares of the financial services provider’s stock valued at $23,931,000 after buying an additional 102,976 shares in the last quarter. Robeco Institutional Asset Management B.V. lifted its position 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 valued at $110,197,000 after buying an additional 498,139 shares in the last quarter. Chicago Equity Partners LLC lifted its position in shares of Assured Guaranty by 102.3% during the 2nd quarter. Chicago Equity Partners LLC now owns 53,870 shares of the financial services provider’s stock valued at $2,267,000 after buying an additional 27,240 shares in the last quarter. Finally, Morgan Stanley lifted its position in shares of Assured Guaranty by 30.9% during the 2nd quarter. Morgan Stanley now owns 118,739 shares of the financial services provider’s stock valued at $4,996,000 after buying an additional 28,004 shares in the last quarter. 97.77% of the stock is currently owned by institutional investors and hedge funds.

NYSE AGO traded down $0.37 during trading hours on Friday, reaching $48.23. The company’s stock had a trading volume of 870,830 shares, compared to its average volume of 587,672. Assured Guaranty Ltd. has a 1 year low of $36.13 and a 1 year high of $49.86. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.18. The company has a market capitalization of $4.71 billion, a price-to-earnings ratio of 10.51 and a beta of 1.02. The firm’s 50-day moving average price is $45.94 and its 200-day moving average price is $44.28.

Assured Guaranty (NYSE:AGO) last released its earnings results on Thursday, November 7th. The financial services provider reported $0.79 EPS for the quarter, topping the consensus estimate of $0.76 by $0.03. Assured Guaranty had a net margin of 46.89% and a return on equity of 7.24%. The firm had revenue of $206.00 million for the quarter, compared to the consensus estimate of $212.55 million. During the same quarter in the previous year, the firm earned $1.47 earnings per share. The company’s quarterly revenue was down 25.1% compared to the same quarter last year.

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The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 4th. Investors of record on Wednesday, November 20th will be paid a dividend of $0.18 per share. The ex-dividend date of this dividend is Tuesday, November 19th. This represents a $0.72 annualized dividend and a yield of 1.49%.

A number of research firms have recently weighed in on AGO. ValuEngine cut Assured Guaranty from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. BTIG Research reaffirmed a “buy” rating and set a $52.00 price objective on shares of Assured Guaranty in a research report on Sunday, August 11th. Finally, UBS Group lifted their price objective on Assured Guaranty from $47.00 to $50.00 and gave the company a “buy” rating in a research report on Monday, August 19th.

In related news, CIO Andrew T. Feldstein purchased 12,238 shares of Assured Guaranty stock in a transaction on Wednesday, November 6th. The shares were bought at an average cost of $48.25 per share, for a total transaction of $590,483.50. Following the acquisition, the executive now owns 280,241 shares in the company, valued at approximately $13,521,628.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CIO Andrew T. Feldstein purchased 12,000 shares of Assured Guaranty stock in a transaction on Wednesday, October 2nd. The stock was bought at an average price of $43.29 per share, for a total transaction of $519,480.00. Following the completion of the acquisition, the executive now owns 12,000 shares in the company, valued at approximately $519,480. The disclosure for this purchase can be found here. Over the last quarter, insiders acquired 185,611 shares of company stock worth $8,557,931 and sold 50,986 shares worth $2,245,712. Insiders own 2.81% of the company’s stock.

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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Want to see what other hedge funds are holding AGO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Assured Guaranty Ltd. (NYSE:AGO).

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

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