Assured Guaranty (NYSE:AGO) Issues Quarterly Earnings Results

by · The Cerbat Gem

Assured Guaranty (NYSE:AGO – Get Free Report) posted its quarterly earnings data on Thursday. The financial services provider reported $2.57 earnings per share for the quarter, topping the consensus estimate of $1.54 by $1.03, Zacks reports. Assured Guaranty had a return on equity of 7.18% and a net margin of 44.53%.The firm’s revenue for the quarter was down 23.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.42 EPS.

Assured Guaranty Price Performance

NYSE:AGO traded down $0.20 during trading hours on Thursday, hitting $81.72. The company’s stock had a trading volume of 421,456 shares, compared to its average volume of 324,244. The stock has a fifty day simple moving average of $82.30 and a 200-day simple moving average of $83.92. The company has a market capitalization of $3.89 billion, a P/E ratio of 9.03 and a beta of 0.98. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.75 and a quick ratio of 0.75. Assured Guaranty has a twelve month low of $74.09 and a twelve month high of $96.50.

Assured Guaranty Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 3rd. Investors of record on Wednesday, November 19th will be paid a $0.34 dividend. The ex-dividend date of this dividend is Wednesday, November 19th. This represents a $1.36 annualized dividend and a yield of 1.7%. Assured Guaranty’s dividend payout ratio (DPR) is 15.03%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on AGO. Wall Street Zen cut Assured Guaranty from a “hold” rating to a “sell” rating in a research report on Saturday, August 9th. Weiss Ratings restated a “buy (b-)” rating on shares of Assured Guaranty in a research report on Wednesday, October 8th. Zacks Research upgraded Assured Guaranty from a “strong sell” rating to a “hold” rating in a research report on Tuesday, October 7th. Finally, UBS Group decreased their price target on Assured Guaranty from $95.00 to $92.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 13th. Two investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $98.50.

Read Our Latest Analysis on Assured Guaranty

Insider Activity at Assured Guaranty

In related news, CEO Dominic Frederico sold 25,000 shares of the firm’s stock in a transaction dated Tuesday, September 23rd. The stock was sold at an average price of $83.83, for a total value of $2,095,750.00. Following the sale, the chief executive officer directly owned 1,287,803 shares of the company’s stock, valued at $107,956,525.49. This trade represents a 1.90% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, COO Robert Bailenson sold 40,000 shares of the firm’s stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $81.51, for a total value of $3,260,400.00. Following the completion of the sale, the chief operating officer directly owned 291,728 shares in the company, valued at $23,778,749.28. This trade represents a 12.06% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 81,827 shares of company stock valued at $5,645,401 over the last ninety days. 5.10% of the stock is owned by corporate insiders.

Institutional Trading of Assured Guaranty

Several large investors have recently bought and sold shares of AGO. Qube Research & Technologies Ltd boosted its stake in Assured Guaranty by 176.3% in the second quarter. Qube Research & Technologies Ltd now owns 366,644 shares of the financial services provider’s stock valued at $31,935,000 after buying an additional 233,966 shares in the last quarter. Raymond James Financial Inc. boosted its stake in shares of Assured Guaranty by 60.7% during the second quarter. Raymond James Financial Inc. now owns 481,707 shares of the financial services provider’s stock valued at $41,957,000 after purchasing an additional 182,004 shares in the last quarter. HRT Financial LP acquired a new stake in shares of Assured Guaranty during the second quarter valued at about $7,739,000. Jane Street Group LLC boosted its stake in shares of Assured Guaranty by 74.5% during the second quarter. Jane Street Group LLC now owns 129,202 shares of the financial services provider’s stock valued at $11,253,000 after purchasing an additional 55,162 shares in the last quarter. Finally, Quantinno Capital Management LP boosted its stake in shares of Assured Guaranty by 54.4% during the second quarter. Quantinno Capital Management LP now owns 135,397 shares of the financial services provider’s stock valued at $11,793,000 after purchasing an additional 47,716 shares in the last quarter. 92.22% of the stock is owned by institutional investors and hedge funds.

Assured Guaranty Company Profile

(Get Free Report)

Assured Guaranty Ltd., together with its subsidiaries, provides credit protection products to public finance, infrastructure, and structured finance markets in the United States and internationally. It operates through two segments: Insurance and Asset Management. The company offers financial guaranty insurance that protects holders of debt instruments and other monetary obligations from defaults in scheduled payments.

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