Assured Guaranty (AGO) Hits New 52-Week Low at $33.50
Assured Guaranty Ltd. (NYSE:AGO) reached a new 52-week low during trading on Wednesday . The stock traded as low as $33.50 and last traded at $34.03, with a volume of 935400 shares trading hands. The stock had previously closed at $33.87.
Several equities research analysts have commented on AGO shares. UBS Group restated a “buy” rating and issued a $47.00 target price (down previously from $49.00) on shares of Assured Guaranty in a research note on Wednesday, October 4th. Keefe, Bruyette & Woods restated an “outperform” rating and issued a $47.00 target price on shares of Assured Guaranty in a research note on Wednesday, December 20th. Finally, MKM Partners restated a “buy” rating on shares of Assured Guaranty in a research note on Thursday, October 5th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $48.25.
The company has a market cap of $3,978.16, a P/E ratio of 4.90 and a beta of 1.64. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 0.19.
Assured Guaranty (NYSE:AGO) last posted its quarterly earnings results on Thursday, November 2nd. The financial services provider reported $1.29 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.78 by $0.51. The firm had revenue of $623.00 million for the quarter, compared to analyst estimates of $262.09 million. Assured Guaranty had a return on equity of 10.59% and a net margin of 45.38%. The business’s quarterly revenue was up 10.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.74 EPS.
Assured Guaranty declared that its board has authorized a stock buyback program on Thursday, November 2nd that authorizes the company to buyback $300.00 million in outstanding shares. This buyback authorization authorizes the financial services provider to reacquire shares of its stock through open market purchases. Shares buyback programs are generally a sign that the company’s leadership believes its shares are undervalued.
Several large investors have recently bought and sold shares of AGO. Tower Research Capital LLC TRC increased its position in shares of Assured Guaranty by 962.5% during the 2nd quarter. Tower Research Capital LLC TRC now owns 4,250 shares of the financial services provider’s stock worth $177,000 after purchasing an additional 3,850 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Assured Guaranty by 11.7% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,150 shares of the financial services provider’s stock worth $215,000 after purchasing an additional 539 shares during the last quarter. Quantum Capital Management acquired a new position in shares of Assured Guaranty during the 2nd quarter worth approximately $218,000. FineMark National Bank & Trust acquired a new position in shares of Assured Guaranty during the 3rd quarter worth approximately $259,000. Finally, 1st Global Advisors Inc. acquired a new position in shares of Assured Guaranty during the 2nd quarter worth approximately $414,000. 95.84% of the stock is currently owned by hedge funds and other institutional investors.
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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