Assured Guaranty Ltd. (NYSE:AGO) to Issue $0.28 Quarterly Dividend

Assured Guaranty Ltd. (NYSE:AGOGet Free Report) declared a quarterly dividend on Wednesday, February 21st, Zacks reports. Stockholders of record on Wednesday, March 6th will be given a dividend of 0.28 per share by the financial services provider on Wednesday, March 20th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 1.22%. The ex-dividend date of this dividend is Tuesday, March 5th.

Assured Guaranty has increased its dividend payment by an average of 11.9% per year over the last three years and has raised its dividend annually for the last 13 consecutive years. Assured Guaranty has a payout ratio of 18.6% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Assured Guaranty to earn $7.20 per share next year, which means the company should continue to be able to cover its $1.24 annual dividend with an expected future payout ratio of 17.2%.

Assured Guaranty Stock Up 0.2 %

AGO stock opened at $91.81 on Monday. Assured Guaranty has a twelve month low of $45.21 and a twelve month high of $96.60. The company has a quick ratio of 0.91, a current ratio of 0.88 and a debt-to-equity ratio of 0.29. The stock’s 50 day moving average is $80.57 and its 200-day moving average is $69.51. The firm has a market capitalization of $5.09 billion, a PE ratio of 7.40 and a beta of 1.13.

Assured Guaranty (NYSE:AGOGet Free Report) last issued its quarterly earnings results on Wednesday, February 28th. The financial services provider reported $5.75 EPS for the quarter, beating analysts’ consensus estimates of $1.18 by $4.57. The company had revenue of $233.00 million during the quarter, compared to the consensus estimate of $196.15 million. Assured Guaranty had a return on equity of 11.82% and a net margin of 53.82%. Assured Guaranty’s revenue was up 20.7% on a year-over-year basis. During the same period last year, the business posted $0.22 earnings per share. Sell-side analysts expect that Assured Guaranty will post 6 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have issued reports on AGO. Keefe, Bruyette & Woods raised their target price on Assured Guaranty from $72.00 to $75.00 and gave the stock an “outperform” rating in a research report on Friday, November 17th. UBS Group raised their target price on Assured Guaranty from $64.00 to $102.00 and gave the stock a “neutral” rating in a research report on Friday.

Read Our Latest Research Report on AGO

Insider Activity at Assured Guaranty

In related news, CEO Dominic Frederico sold 20,484 shares of the business’s stock in a transaction dated Tuesday, December 5th. The stock was sold at an average price of $68.70, for a total transaction of $1,407,250.80. Following the completion of the transaction, the chief executive officer now directly owns 1,330,509 shares in the company, valued at $91,405,968.30. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other news, CEO Dominic Frederico sold 20,484 shares of the company’s stock in a transaction dated Tuesday, December 5th. The stock was sold at an average price of $68.70, for a total value of $1,407,250.80. Following the completion of the transaction, the chief executive officer now directly owns 1,330,509 shares in the company, valued at approximately $91,405,968.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Stephen Donnarumma sold 15,000 shares of the company’s stock in a transaction dated Friday, December 8th. The stock was sold at an average price of $69.96, for a total value of $1,049,400.00. Following the completion of the transaction, the insider now owns 94,774 shares of the company’s stock, valued at $6,630,389.04. The disclosure for this sale can be found here. In the last three months, insiders have sold 37,984 shares of company stock worth $2,634,801. 3.82% of the stock is owned by company insiders.

Institutional Investors Weigh In On Assured Guaranty

Several institutional investors have recently bought and sold shares of the stock. Lazard Asset Management LLC bought a new position in Assured Guaranty during the 4th quarter valued at approximately $27,000. Quantbot Technologies LP purchased a new stake in Assured Guaranty during the 1st quarter valued at $30,000. Belpointe Asset Management LLC boosted its stake in Assured Guaranty by 106.0% during the 1st quarter. Belpointe Asset Management LLC now owns 651 shares of the financial services provider’s stock valued at $33,000 after purchasing an additional 335 shares during the last quarter. Parkside Financial Bank & Trust boosted its stake in shares of Assured Guaranty by 28.7% in the 2nd quarter. Parkside Financial Bank & Trust now owns 1,117 shares of the financial services provider’s stock worth $62,000 after buying an additional 249 shares during the last quarter. Finally, State of Wyoming purchased a new position in shares of Assured Guaranty in the 4th quarter worth $95,000. 88.77% of the stock is currently owned by hedge funds and other institutional investors.

About Assured Guaranty

(Get Free Report)

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

See Also

Dividend History for Assured Guaranty (NYSE:AGO)

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