Several matter pinch shares of Assured Guaranty Ltd. (NYSE:AGO) [Trend Analysis], as shares plunging -0.48% to $35.26 with a share volume of 1.06 Million. Assured Guaranty Municipal Corp. (AGM), an indirect subsidiary of Assured Guaranty Ltd. (AGO), released that the New York State Department of Financial Services has agreed its request to implement a stock redemption plan. Under the plan, AGM will repurchase shares from its direct parent, Assured Guaranty Municipal Holdings Inc., for about $300 million. AGL will use these funds predominantly to repurchase its publicly traded ordinary shares.
Share repurchases can be made from time to time in the open market or in privately negotiated transactions. As of close of business on November 25, 2016, AGL had about $325 million remaining under its current share repurchase authorizations. At September 30, 2016, AGM’s claims-paying resources totaled $5.7 billion (not comprising its investment in its associate Municipal Assurance Corp.) and its leverage ratios of outstanding par and outstanding debt service to claims-paying resources were 20.8 to 1 and 32.0 to 1, respectively. The stock is going forward its 52-week low with 64.90% and moving down from its 52-week high price with -0.65%. To have technical analysis views, debt to equity ratio of 0.20. The float short ratio was 2.89%, as compared to sentiment indicator; Short Ratio was 4.52.
Shares of The Allstate Corporation (NYSE:ALL) [Trend Analysis] runs in leading trade, it moving down -0.47% to traded at $72.04. The firm has price volatility of 0.77% for a week and 1.39% for a month. Its beta stands at 0.98 times. Levi & Korsinsky, LLP Notifies Shareholders of The Allstate Corporation of a Class Action Court Case and a Lead Plaintiff Deadline of January 9, 2017. The complaint alleges that during the Class Period defendants issued false and misleading statements and/or failed to disclose that the reason for the Firm’s sudden spike in its auto claims frequency, which defendants claimed was due to external events beyond the Firm’s control, comprising the weather and surged miles driven, was actually the result of Allstate’s growth in its auto policy business through higher risk drivers.
As a result of defendants’ false statements and/or omissions, Allstate stock traded at artificially inflated prices during the Class Period, reaching a high of $72.58 per share, and certain of the Firm’s insiders, comprising its CEO, were able to sell their Allstate shares at artificially inflated prices. Narrow down four to firm performance, its weekly performance was 0.03% and monthly performance was 6.58%. The stock price of ALL is moving up from its 20 days moving average with 3.48% and isolated positively from 50 days moving average with 4.57%.