Assured Guaranty Ltd. (AGO) Posts Quarterly Earnings Results, Beats Estimates By $0.44 EPS
Assured Guaranty Ltd. (NYSE:AGO) released its quarterly earnings results on Wednesday. The financial services provider reported $1.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.72 by $0.44, Briefing.com reports. The business had revenue of $308 million during the quarter, compared to the consensus estimate of $288.15 million. Assured Guaranty had a return on equity of 16.27% and a net margin of 58.14%. The business’s revenue was down 22.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.03 EPS.
Shares of Assured Guaranty (NYSE AGO) traded down 0.75% on Thursday, reaching $44.76. 458,747 shares of the company traded hands. The firm has a 50-day moving average of $43.18 and a 200-day moving average of $40.29. The company has a market capitalization of $5.45 billion, a PE ratio of 5.18 and a beta of 1.67. Assured Guaranty has a 52-week low of $26.37 and a 52-week high of $45.73.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 30th. Investors of record on Wednesday, August 16th will be paid a $0.142 dividend. This represents a $0.57 annualized dividend and a yield of 1.26%. The ex-dividend date is Monday, August 14th. Assured Guaranty’s payout ratio is 6.57%.
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AGO has been the subject of several research reports. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $42.00 price target on shares of Assured Guaranty in a research note on Thursday, April 6th. BidaskClub raised Assured Guaranty from a “hold” rating to a “buy” rating in a research note on Saturday, June 17th. BTIG Research reaffirmed a “buy” rating and set a $49.00 price target on shares of Assured Guaranty in a research note on Sunday, May 28th. Finally, UBS AG reaffirmed a “buy” rating and set a $45.00 price target (up previously from $44.00) on shares of Assured Guaranty in a research note on Wednesday, May 17th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Assured Guaranty presently has a consensus rating of “Buy” and a consensus target price of $46.50.
In other news, insider Howard Albert sold 12,000 shares of the company’s stock in a transaction on Wednesday, May 10th. The stock was sold at an average price of $39.19, for a total transaction of $470,280.00. Following the completion of the sale, the insider now directly owns 169,314 shares of the company’s stock, valued at $6,635,415.66. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 2.62% of the company’s stock.
Large investors have recently made changes to their positions in the stock. Parallel Advisors LLC increased its stake in shares of Assured Guaranty by 2.3% in the first quarter. Parallel Advisors LLC now owns 3,788 shares of the financial services provider’s stock valued at $144,000 after buying an additional 84 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in shares of Assured Guaranty during the first quarter valued at approximately $205,000. Creative Planning increased its stake in shares of Assured Guaranty by 36.7% in the first quarter. Creative Planning now owns 7,516 shares of the financial services provider’s stock valued at $279,000 after buying an additional 2,016 shares in the last quarter. Greenleaf Trust bought a new stake in shares of Assured Guaranty during the second quarter valued at approximately $319,000. Finally, Advisors Asset Management Inc. increased its stake in shares of Assured Guaranty by 16.8% in the first quarter. Advisors Asset Management Inc. now owns 7,967 shares of the financial services provider’s stock valued at $296,000 after buying an additional 1,147 shares in the last quarter. 99.33% of the stock is owned by institutional investors and hedge funds.
Assured Guaranty Company Profile
Assured Guaranty Ltd. is a holding company. The Company, through its subsidiaries, provides credit protection products to the United States and international public finance, including infrastructure, and structured finance markets. It applies its credit underwriting judgment, risk management skills and capital markets experience primarily to offer financial guaranty insurance that protects holders of debt instruments and other monetary obligations from defaults in scheduled payments.
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