Elm Ridge Management Lowers stake in Assured Guaranty Ltd. (AGO)

Assured Guaranty Ltd. (AGO) : Elm Ridge Management reduced its stake in Assured Guaranty Ltd. by 7.92% during the most recent quarter end. The investment management company now holds a total of 718,491 shares of Assured Guaranty Ltd. which is valued at $24,996,302 after selling 61,787 shares in Assured Guaranty Ltd. , the firm said in a disclosure report filed with the SEC on Nov 14, 2016.Assured Guaranty Ltd. makes up approximately 8.24% of Elm Ridge Management’s portfolio.

Other Hedge Funds, Including , Two Sigma Investments Lp added AGO to its portfolio by purchasing 17,535 company shares during the most recent quarter which is valued at $610,043.California State Teachers Retirement System boosted its stake in AGO in the latest quarter, The investment management firm added 2,600 additional shares and now holds a total of 292,128 shares of Assured Guaranty Ltd. which is valued at $9,590,562. Assured Guaranty Ltd. makes up approx 0.02% of California State Teachers Retirement System’s portfolio.Blackrock Group Ltd reduced its stake in AGO by selling 51,260 shares or 10.07% in the most recent quarter. The Hedge Fund company now holds 457,923 shares of AGO which is valued at $14,699,328. Assured Guaranty Ltd. makes up approx 0.01% of Blackrock Group Ltd’s portfolio.

Assured Guaranty Ltd. closed down -0.17 points or -0.49% at $34.74 with 7,95,801 shares getting traded on Monday. Post opening the session at $34.84, the shares hit an intraday low of $34.57 and an intraday high of $34.98 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

On the company’s financial health, Assured Guaranty Ltd. reported $3.83 EPS for the quarter, beating the analyst consensus estimate by $ 3.17 according to the earnings call on Nov 3, 2016. Analyst had a consensus of $0.66. The company had revenue of $566.00 million for the quarter, compared to analysts expectations of $283.94 million. The company’s revenue was up 53.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.12 EPS.

Assured Guaranty Ltd. is a holding company. The Company provides through its operating subsidiaries credit protection products to the United States and international public finance including infrastructure and structured finance markets. The Company markets its financial guaranty insurance directly to issuers and underwriters of public finance and structured finance securities as well as to investors. It conducts its financial guaranty business on a direct basis from the following companies: Assured Guaranty Municipal Corp. (AGM) Municipal Assurance Corp. (MAC) Assured Guaranty Corp. (AGC) Assured Guaranty (Europe) Ltd. (AGE) and Assured Guaranty Re Ltd. (AG Re). The Company insures obligations issued in the United States. It also offers credit protection through reinsurance. The Company insures and reinsures various types of United States public finance obligations and various non-United States public finance obligations.

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