On August 24, 2023, it was reported that the California State Teachers Retirement System had reduced its stake in Assured Guaranty Ltd. by 3.7% during the first quarter of the year. The institutional investor now owns 72,364 shares of the financial services provider’s stock after selling 2,761 shares in the aforementioned period. At the end of the quarter, these shares were valued at approximately $3,638,000.
Assured Guaranty Ltd., along with its subsidiaries, operates in the credit protection products industry and offers its services to public finance, infrastructure, and structured finance markets both in the United States and internationally. The company operates through two segments: Insurance and Asset Management. It specializes in providing financial guaranty insurance, which safeguards debt instrument holders and other individuals against defaults in scheduled payments.
In addition to this news about its position reduction by California State Teachers Retirement System, Assured Guaranty also recently made an announcement regarding a quarterly dividend payment. The dividend is set to be paid on August 30th and will be available to shareholders of record as of August 16th. With an ex-dividend date of August 15th, this dividend amounts to $0.28 per share. This translates to an annualized dividend payout ratio of 21.96% and a dividend yield of approximately 1.95%.
While these developments may have caught the attention of investors or those interested in financial news from Assured Guaranty Ltd., it is important to approach such information with caution and conduct further research before making any investment decisions based solely on this information.
Please note that all information provided is accurate as of August 24, 2023 – the referenced date for this article.
Assured Guaranty Ltd.’s Credit Protection Products Gain Favor among Hedge Funds and Institutional Investors
Assured Guaranty Ltd., a leading provider of credit protection products in the United States and around the world, has recently caught the attention of several hedge funds and institutional investors. In the first quarter alone, Eagle Asset Management Inc., Federated Hermes Inc., VELA Investment Management LLC, Truist Financial Corp, and Royce & Associates LP all increased their holdings in Assured Guaranty.
Eagle Asset Management Inc., for instance, saw a significant increase of 59.1% in its holdings of Assured Guaranty stock. This translates to an additional 46,428 shares, bringing their total ownership to 124,936 shares valued at $6,280,000. Similarly, Federated Hermes Inc. acquired an additional 2,513 shares, increasing their stake in the company by 58.0%. VELA Investment Management LLC also saw a 9.2% boost in their ownership with the acquisition of 2,112 more shares worth $1,263,000.
Truist Financial Corp’s stake in Assured Guaranty grew by 5.3% as they acquired an additional 604 shares valued at $602,000 during the first quarter. Finally, Royce & Associates LP experienced a remarkable increase of 169.5%, adding a staggering 324,737 shares to their portfolio for a total ownership of 516,345 shares valued at $25,957,000.
All these investments combined highlight the confidence that hedge funds and institutional investors have placed in Assured Guaranty’s financial services offerings. As it stands now, approximately 88.24% of the company’s stock is owned by these entities.
From a market perspective on Thursday opening prices reveal that AGO stock opened at $57.51 per share – not far off from its one-year high of $67.13 but much higher than its one-year low of $45.21. These fluctuations in stock prices are not uncommon for financial service providers, which operate within a dynamic market influenced by various factors.
Assured Guaranty Ltd., through its subsidiaries, specializes in providing credit protection products to public finance, infrastructure, and structured finance markets. With a focus on offering financial guaranty insurance, the company aims to protect holders of debt instruments and other monetary obligations from defaults in scheduled payments.
In light of recent developments surrounding Assured Guaranty, StockNews.com has assumed coverage on the company and issued a “hold” rating for it. This research note provides investors with valuable insights as they navigate the market and make informed decisions regarding their investments.
As the company continues to attract attention from hedge funds and institutional investors, it is clear that Assured Guaranty’s credit protection products are highly regarded within the industry. With its strong performance, steady growth, and dedication to providing reliable financial solutions, Assured Guaranty Ltd. remains a key player in the market. Investors can look forward to further updates as this story unfolds.