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Assured Guaranty Ltd. (NYSE:) CEO Dominic Frederico has sold a significant portion of his company shares, according to the latest filings with the Securities and Exchange Commission. The transactions, which took place on March 20, 2024, involved the sale of a total of 55,000 shares, resulting in proceeds of over $5 million.
The shares were sold in two separate transactions at varying prices. In the first sale, 32,933 shares were sold at an average price of $92.17, while the second sale saw 22,067 shares sold at an average price of $92.83. The sales took place within a price range of $92.00 to $93.18 per share, as indicated by the footnotes in the report. Following these transactions, Frederico still retains a substantial stake in the company, with direct ownership of 1,450,824.0034 shares.
Investors and market watchers often pay close attention to insider sales as they can provide insights into an executive’s view of the company’s current valuation and future prospects. However, such sales can occur for various reasons and do not necessarily indicate a lack of confidence in the company.
Assured Guaranty Ltd., with its trading symbol AGO, is known for its role in the surety insurance industry and has a significant presence in the financial sector. The company has been a stable player in the market, and these transactions represent a noteworthy change in the holdings of one of its top executives.
The details of the sales, including the price ranges and total value, are publicly available and provide transparency to shareholders and potential investors in regards to the movements of insider shares. As of now, there has been no official statement from Assured Guaranty Ltd. or CEO Dominic Frederico regarding the rationale behind the stock sale.
InvestingPro Insights
In light of the recent insider sales by CEO Dominic Frederico of Assured Guaranty Ltd. (NYSE:AGO), it’s important for investors to consider the company’s financial health and market performance. According to InvestingPro, Assured Guaranty has shown a strong shareholder yield, which is a positive indicator that may offset concerns regarding the CEO’s stock sale. This is further supported by the fact that the company has successfully raised its dividend for 12 consecutive years, showcasing a commitment to returning value to its shareholders.
From a valuation perspective, Assured Guaranty’s current P/E Ratio stands at 7.34, indicating that the company may be trading at a low earnings multiple compared to industry peers. Additionally, the stock is trading near its 52-week high, with a price percentage of 96.13% of this peak, reflecting investor confidence in the company’s performance.
With regard to company performance, Assured Guaranty has maintained a robust gross profit margin of 81.58% over the last twelve months as of Q4 2023, which speaks to the company’s efficiency and ability to manage costs effectively. Moreover, the company has experienced a significant price uptick over the last six months, with a 55.27% total return, highlighting strong market momentum.
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