Assured Guaranty (NYSE:AGO) announced its earnings results on Thursday. The financial services provider reported $1.47 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.72 by $0.75, Briefing.com reports. The firm had revenue of $274.00 million for the quarter, compared to the consensus estimate of $240.16 million. Assured Guaranty had a return on equity of 7.02% and a net margin of 37.52%. The business’s quarterly revenue was down 56.0% compared to the same quarter last year. During the same period in the previous year, the business earned $1.29 EPS.
Shares of AGO opened at $41.56 on Friday. The stock has a market cap of $4.48 billion, a price-to-earnings ratio of 10.20 and a beta of 1.30. Assured Guaranty has a 12 month low of $32.97 and a 12 month high of $43.40. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.56 and a current ratio of 0.56.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 5th. Shareholders of record on Wednesday, November 21st will be issued a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 1.54%. The ex-dividend date of this dividend is Tuesday, November 20th.
Several brokerages have commented on AGO. Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $48.00 target price on shares of Assured Guaranty in a report on Friday, August 3rd. ValuEngine raised Assured Guaranty from a “sell” rating to a “hold” rating in a report on Tuesday, September 4th.
In other Assured Guaranty news, CEO Dominic Frederico sold 118,294 shares of Assured Guaranty stock in a transaction dated Friday, August 31st. The stock was sold at an average price of $40.73, for a total transaction of $4,818,114.62. Following the transaction, the chief executive officer now directly owns 1,180,680 shares of the company’s stock, valued at approximately $48,089,096.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Robert Bailenson sold 16,723 shares of Assured Guaranty stock in a transaction dated Thursday, September 13th. The stock was sold at an average price of $40.42, for a total value of $675,943.66. Following the transaction, the chief financial officer now directly owns 252,786 shares in the company, valued at $10,217,610.12. The disclosure for this sale can be found here. Insiders have sold a total of 380,734 shares of company stock worth $15,571,121 over the last ninety days. Company insiders own 2.62% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the business. Private Advisor Group LLC bought a new position in shares of Assured Guaranty in the 3rd quarter worth about $222,000. Trilogy Capital Inc. bought a new position in shares of Assured Guaranty in the 2nd quarter worth about $200,000. Moody Aldrich Partners LLC bought a new position in shares of Assured Guaranty in the 3rd quarter worth about $248,000. Aviance Capital Partners LLC bought a new position in shares of Assured Guaranty in the 2nd quarter worth about $220,000. Finally, Signaturefd LLC raised its position in shares of Assured Guaranty by 82.0% in the 2nd quarter. Signaturefd LLC now owns 6,237 shares of the financial services provider’s stock worth $223,000 after acquiring an additional 2,811 shares in the last quarter. 95.43% of the stock is currently owned by hedge funds and other institutional investors.
Assured Guaranty Company Profile
Assured Guaranty Ltd., through its subsidiaries, provides credit protection products to public finance, infrastructure, and structured finance markets in the United States and internationally. It offers financial guaranty insurance that protects holders of debt instruments and other monetary obligations from defaults in scheduled payments.
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