Assured Guaranty Ltd. Declares Quarterly Dividend of $0.14 (AGO)
Assured Guaranty Ltd. (NYSE:AGO) announced a quarterly dividend on Wednesday, November 1st, NASDAQ reports. Stockholders of record on Wednesday, November 15th will be given a dividend of 0.142 per share by the financial services provider on Wednesday, November 29th. This represents a $0.57 dividend on an annualized basis and a dividend yield of 1.53%. The ex-dividend date of this dividend is Tuesday, November 14th.
Assured Guaranty has raised its dividend by an average of 9.1% annually over the last three years and has raised its dividend every year for the last 5 years.
Assured Guaranty (NYSE:AGO) last released its quarterly earnings results on Wednesday, August 2nd. The financial services provider reported $1.16 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.72 by $0.44. The company had revenue of $308.00 million during the quarter, compared to analyst estimates of $288.15 million. Assured Guaranty had a return on equity of 16.00% and a net margin of 61.25%. The firm’s revenue was down 22.2% on a year-over-year basis. During the same quarter last year, the business posted $1.03 earnings per share.
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Several analysts have issued reports on AGO shares. BTIG Research reissued a “buy” rating and issued a $49.00 price objective on shares of Assured Guaranty in a research note on Friday, July 14th. BidaskClub raised shares of Assured Guaranty from a “hold” rating to a “buy” rating in a research note on Friday, July 7th. MKM Partners reissued a “buy” rating on shares of Assured Guaranty in a research note on Thursday, October 5th. Finally, UBS AG reissued a “buy” rating and issued a $47.00 price objective (down previously from $49.00) on shares of Assured Guaranty in a research note on Wednesday, October 4th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $47.00.
About Assured Guaranty
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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