Procyon Advisors LLC Sells 176 Shares of Assured Guaranty Ltd. (NYSE:AGO)

Procyon Advisors LLC lessened its holdings in Assured Guaranty Ltd. (NYSE:AGO) by 5.8% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,845 shares of the financial services provider’s stock after selling 176 shares during the quarter. Procyon Advisors LLC’s holdings in Assured Guaranty were worth $226,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of AGO. New Covenant Trust Company N.A. bought a new position in shares of Assured Guaranty in the first quarter worth about $35,000. Daiwa Securities Group Inc. bought a new position in Assured Guaranty in the 2nd quarter worth about $46,000. Versant Capital Management Inc increased its position in shares of Assured Guaranty by 55.7% during the second quarter. Versant Capital Management Inc now owns 1,054 shares of the financial services provider’s stock worth $81,000 after acquiring an additional 377 shares during the period. GAMMA Investing LLC raised its stake in shares of Assured Guaranty by 24.3% during the first quarter. GAMMA Investing LLC now owns 1,017 shares of the financial services provider’s stock valued at $89,000 after acquiring an additional 199 shares in the last quarter. Finally, Point72 Asset Management L.P. purchased a new stake in shares of Assured Guaranty in the second quarter valued at approximately $151,000. Hedge funds and other institutional investors own 92.22% of the company’s stock.

Analyst Upgrades and Downgrades

AGO has been the subject of a number of research analyst reports. Keefe, Bruyette & Woods raised Assured Guaranty from a “market perform” rating to an “outperform” rating and lifted their target price for the company from $87.00 to $92.00 in a research report on Tuesday, July 9th. Roth Mkm restated a “buy” rating and issued a $110.00 price objective on shares of Assured Guaranty in a report on Tuesday, July 9th. UBS Group dropped their target price on shares of Assured Guaranty from $102.00 to $84.00 and set a “neutral” rating on the stock in a report on Friday, August 9th. Finally, StockNews.com raised shares of Assured Guaranty from a “sell” rating to a “hold” rating in a research report on Friday, September 6th.

Insider Buying and Selling at Assured Guaranty

In other news, CEO Dominic Frederico sold 31,000 shares of the company’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $80.01, for a total transaction of $2,480,310.00. Following the transaction, the chief executive officer now directly owns 1,380,119 shares of the company’s stock, valued at approximately $110,423,321.19. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, Director Yukiko Omura sold 3,599 shares of the company’s stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $79.73, for a total transaction of $286,948.27. Following the transaction, the director now owns 19,285 shares in the company, valued at $1,537,593.05. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Dominic Frederico sold 31,000 shares of the stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $80.01, for a total transaction of $2,480,310.00. Following the completion of the transaction, the chief executive officer now directly owns 1,380,119 shares of the company’s stock, valued at $110,423,321.19. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 5.10% of the stock is owned by insiders.

Assured Guaranty Trading Up 2.0 %

Shares of NYSE:AGO opened at $85.12 on Thursday. The company has a market capitalization of $4.63 billion, a PE ratio of 6.57 and a beta of 1.10. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.30. Assured Guaranty Ltd. has a 12-month low of $59.01 and a 12-month high of $96.60. The business’s fifty day simple moving average is $79.23 and its 200-day simple moving average is $78.83.

Assured Guaranty (NYSE:AGO) last posted its earnings results on Wednesday, August 7th. The financial services provider reported $1.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.39 by $0.05. The company had revenue of $202.00 million for the quarter, compared to analyst estimates of $193.05 million. Assured Guaranty had a return on equity of 13.19% and a net margin of 61.17%. The firm’s quarterly revenue was down 43.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.60 earnings per share. As a group, equities research analysts predict that Assured Guaranty Ltd. will post 6.3 earnings per share for the current fiscal year.

Assured Guaranty Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 4th. Investors of record on Wednesday, August 21st were given a dividend of $0.31 per share. The ex-dividend date was Wednesday, August 21st. This represents a $1.24 dividend on an annualized basis and a yield of 1.46%. Assured Guaranty’s payout ratio is 9.58%.

Assured Guaranty Profile

Assured Guaranty Ltd., together with its subsidiaries, provides credit protection products to public finance, infrastructure, and structured finance markets in the United States and internationally. It operates through two segments: Insurance and Asset Management. The company offers financial guaranty insurance that protects holders of debt instruments and other monetary obligations from defaults in scheduled payments.