Assured Guaranty (NYSE:AGO) Releases Earnings Results, Beats Expectations By $0.62 EPS

Assured Guaranty (NYSE:AGO) released its earnings results on Wednesday. The financial services provider reported $1.38 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.76 by $0.62, Briefing.com reports. Assured Guaranty had a net margin of 46.89% and a return on equity of 7.27%. The business had revenue of $266.00 million during the quarter, compared to analyst estimates of $222.39 million. During the same quarter in the prior year, the firm earned $0.66 earnings per share. The company’s revenue for the quarter was up 20.9% compared to the same quarter last year.

Shares of AGO traded up $0.20 during mid-day trading on Friday, reaching $45.87. The stock had a trading volume of 653,212 shares, compared to its average volume of 486,135. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.51 and a current ratio of 0.51. Assured Guaranty has a 52-week low of $36.13 and a 52-week high of $47.97. The company has a fifty day moving average of $43.45. The stock has a market capitalization of $4.34 billion, a price-to-earnings ratio of 9.41 and a beta of 1.06.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 4th. Investors of record on Wednesday, August 21st will be issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.57%. The ex-dividend date of this dividend is Tuesday, August 20th.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Steward Partners Investment Advisory LLC purchased a new stake in shares of Assured Guaranty in the second quarter valued at about $32,000. Rockefeller Capital Management L.P. grew its holdings in shares of Assured Guaranty by 1,700.0% in the second quarter. Rockefeller Capital Management L.P. now owns 936 shares of the financial services provider’s stock valued at $39,000 after purchasing an additional 884 shares during the period. Icon Wealth Partners LLC purchased a new stake in shares of Assured Guaranty in the first quarter valued at about $53,000. Advisor Group Inc. grew its holdings in shares of Assured Guaranty by 30.6% in the fourth quarter. Advisor Group Inc. now owns 2,690 shares of the financial services provider’s stock valued at $103,000 after purchasing an additional 630 shares during the period. Finally, Contravisory Investment Management Inc. purchased a new stake in shares of Assured Guaranty in the first quarter valued at about $171,000. 96.73% of the stock is owned by hedge funds and other institutional investors.

A number of research firms have recently issued reports on AGO. MKM Partners upped their target price on shares of Assured Guaranty to $65.00 and gave the stock a “buy” rating in a report on Friday, May 10th. ValuEngine lowered shares of Assured Guaranty from a “hold” rating to a “sell” rating in a report on Thursday, August 1st. Finally, BTIG Research began coverage on shares of Assured Guaranty in a report on Friday, August 2nd. They set a “buy” rating and a $52.00 target price for the company.

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.

Further Reading: Cost of Equity For A Business, Investors

Earnings History for Assured Guaranty (NYSE:AGO)

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