Assured Guaranty (AGO) Releases Earnings Results, Beats Expectations By $0.75 EPS

Assured Guaranty (NYSE:AGO) posted its quarterly earnings data on Thursday. The financial services provider reported $1.47 earnings per share for the quarter, topping analysts’ consensus estimates of $0.72 by $0.75, Briefing.com reports. Assured Guaranty had a return on equity of 7.02% and a net margin of 37.52%. The business had revenue of $274.00 million for the quarter, compared to analyst estimates of $240.16 million. During the same quarter in the prior year, the company earned $1.29 earnings per share. The company’s revenue was down 56.0% on a year-over-year basis.

Shares of Assured Guaranty stock traded up $0.13 during trading hours on Friday, reaching $41.56. 1,579,932 shares of the company were exchanged, compared to its average volume of 862,504. Assured Guaranty has a 1 year low of $32.97 and a 1 year high of $43.40. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 0.19. The firm has a market capitalization of $4.46 billion, a P/E ratio of 10.16 and a beta of 1.30.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 5th. Stockholders of record on Wednesday, November 21st will be given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.54%. The ex-dividend date of this dividend is Tuesday, November 20th.

In related news, CEO Dominic Frederico sold 212,055 shares of the stock in a transaction on Tuesday, September 4th. The stock was sold at an average price of $40.82, for a total value of $8,656,085.10. Following the transaction, the chief executive officer now owns 1,180,680 shares of the company’s stock, valued at $48,195,357.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Russell B. Brewer II sold 29,362 shares of the stock in a transaction on Friday, September 21st. The shares were sold at an average price of $42.36, for a total value of $1,243,774.32. Following the completion of the transaction, the insider now directly owns 188,952 shares in the company, valued at approximately $8,004,006.72. The disclosure for this sale can be found here. Insiders have sold 380,734 shares of company stock worth $15,571,121 in the last ninety days. Corporate insiders own 2.62% of the company’s stock.

A number of large investors have recently bought and sold shares of AGO. Principal Financial Group Inc. increased its holdings in Assured Guaranty by 12,329.9% in the first quarter. Principal Financial Group Inc. now owns 2,151,733 shares of the financial services provider’s stock valued at $77,893,000 after buying an additional 2,134,422 shares during the last quarter. BlackRock Inc. boosted its stake in Assured Guaranty by 12.4% in the second quarter. BlackRock Inc. now owns 6,867,562 shares of the financial services provider’s stock valued at $245,377,000 after acquiring an additional 757,761 shares in the last quarter. Boston Partners boosted its stake in Assured Guaranty by 36.5% in the second quarter. Boston Partners now owns 1,856,469 shares of the financial services provider’s stock valued at $66,332,000 after acquiring an additional 496,860 shares in the last quarter. EJF Capital LLC acquired a new position in Assured Guaranty in the second quarter valued at $12,963,000. Finally, CarVal Investors LLC acquired a new position in Assured Guaranty in the second quarter valued at $11,302,000. 95.43% of the stock is currently owned by hedge funds and other institutional investors.

A number of analysts have recently weighed in on the company. Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $48.00 price objective on shares of Assured Guaranty in a research report on Friday, August 3rd. ValuEngine raised Assured Guaranty from a “sell” rating to a “hold” rating in a research report on Tuesday, September 4th.

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About Assured Guaranty

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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Earnings History for Assured Guaranty (NYSE:AGO)

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