Franklin Resources Inc. Has $5 Million Holdings in Assured Guaranty Ltd. (NYSE:AGO)

Posted by Defense World Staff on Jun 3rd, 2023

Franklin Resources Inc. decreased its position in shares of Assured Guaranty Ltd. (NYSE:AGO – Get Rating) by 20.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 80,229 shares of the financial services provider’s stock after selling 20,237 shares during the period. Franklin Resources Inc. owned 0.13% of Assured Guaranty worth $4,995,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in shares of Assured Guaranty by 5.5% during the 1st quarter. Vanguard Group Inc. now owns 7,928,269 shares of the financial services provider’s stock worth $504,714,000 after purchasing an additional 410,594 shares during the last quarter. Philadelphia Financial Management of San Francisco LLC boosted its position in shares of Assured Guaranty by 59.2% in the third quarter. Philadelphia Financial Management of San Francisco LLC now owns 545,196 shares of the financial services provider’s stock valued at $26,415,000 after acquiring an additional 202,687 shares during the period. Millennium Management LLC grew its stake in shares of Assured Guaranty by 102.8% in the second quarter. Millennium Management LLC now owns 380,816 shares of the financial services provider’s stock worth $21,246,000 after acquiring an additional 193,081 shares during the last quarter. Invesco Ltd. increased its position in Assured Guaranty by 25.5% during the first quarter. Invesco Ltd. now owns 550,201 shares of the financial services provider’s stock worth $35,027,000 after acquiring an additional 111,713 shares during the period. Finally, BlackRock Inc. raised its stake in Assured Guaranty by 1.2% during the 1st quarter. BlackRock Inc. now owns 9,158,570 shares of the financial services provider’s stock valued at $583,035,000 after purchasing an additional 108,726 shares during the last quarter. 90.51% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms have recently issued reports on AGO. StockNews.com upgraded shares of Assured Guaranty from a “sell” rating to a “hold” rating in a report on Thursday, May 11th. Roth Capital reaffirmed a “buy” rating on shares of Assured Guaranty in a report on Wednesday, March 1st.

Assured Guaranty Stock Up 3.3 %

AGO opened at $53.38 on Friday. Assured Guaranty Ltd. has a fifty-two week low of $45.21 and a fifty-two week high of $67.13. The company has a market capitalization of $3.17 billion, a P/E ratio of 23.21 and a beta of 1.11. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.84 and a quick ratio of 0.84. The firm’s fifty day moving average price is $52.37 and its two-hundred day moving average price is $57.60.

Assured Guaranty (NYSE:AGO – Get Rating) last posted its earnings results on Tuesday, February 28th. The financial services provider reported $0.22 earnings per share for the quarter. The business had revenue of $292.00 million for the quarter. Assured Guaranty had a net margin of 19.69% and a return on equity of 4.60%. On average, analysts anticipate that Assured Guaranty Ltd. will post 4.6 EPS for the current year.

Assured Guaranty Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 31st. Investors of record on Wednesday, May 17th were given a dividend of $0.28 per share. The ex-dividend date of this dividend was Tuesday, May 16th. This represents a $1.12 annualized dividend and a dividend yield of 2.10%. Assured Guaranty’s dividend payout ratio (DPR) is presently 48.70%.

Assured Guaranty Company Profile

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Assured Guaranty Ltd. is a holding company, which engages in the provision of credit protection products to the U.S. and international public finance, and structured finance markets through its subsidiaries. It operates through the following segments: Insurance and Asset Management. The Insurance segment includes the company’s domestic and foreign insurance subsidiaries and their wholly-owned subsidiaries that provide credit protection products to the U.S.