Assured Guaranty Ltd. (AGO) Shares Gap Down After Analyst Downgrade
Assured Guaranty Ltd. (NYSE:AGO) gapped down prior to trading on Wednesday after UBS AG lowered their price target on the stock from $49.00 to $47.00. The stock had previously closed at $39.88, but opened at $38.69. UBS AG currently has a buy rating on the stock. Assured Guaranty shares last traded at $37.58, with a volume of 3,396,275 shares changing hands.
AGO has been the subject of a number of other research reports. BidaskClub raised shares of Assured Guaranty from a “sell” rating to a “hold” rating in a report on Friday, June 9th. BTIG Research reaffirmed a “buy” rating and set a $49.00 target price on shares of Assured Guaranty in a research note on Friday, July 14th. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $42.00 target price on shares of Assured Guaranty in a research note on Tuesday, July 4th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Assured Guaranty presently has a consensus rating of “Buy” and an average target price of $47.00.
A number of hedge funds have recently made changes to their positions in the business. M Holdings Securities Inc. boosted its stake in Assured Guaranty by 7.7% during the second quarter. M Holdings Securities Inc. now owns 203,759 shares of the financial services provider’s stock worth $8,505,000 after buying an additional 14,594 shares during the period. 1st Global Advisors Inc. purchased a new position in Assured Guaranty during the second quarter worth about $414,000. Verition Fund Management LLC boosted its stake in Assured Guaranty by 145.9% during the second quarter. Verition Fund Management LLC now owns 22,634 shares of the financial services provider’s stock worth $945,000 after buying an additional 13,431 shares during the period. 361 Capital LLC purchased a new position in Assured Guaranty during the second quarter worth about $1,817,000. Finally, Tower Research Capital LLC TRC boosted its stake in Assured Guaranty by 962.5% during the second quarter. Tower Research Capital LLC TRC now owns 4,250 shares of the financial services provider’s stock worth $177,000 after buying an additional 3,850 shares during the period. 96.71% of the stock is owned by institutional investors.
The company has a market capitalization of $4.47 billion, a P/E ratio of 4.22 and a beta of 1.65. The firm has a 50-day moving average of $41.40 and a 200 day moving average of $40.78.
Assured Guaranty (NYSE:AGO) last posted its quarterly earnings data on Wednesday, August 2nd. The financial services provider reported $1.16 EPS for the quarter, beating the Zacks’ consensus estimate of $0.72 by $0.44. Assured Guaranty had a net margin of 61.25% and a return on equity of 16.00%. The company had revenue of $308.00 million during the quarter, compared to the consensus estimate of $288.15 million. During the same quarter in the prior year, the company posted $1.03 EPS. The company’s quarterly revenue was down 22.2% compared to the same quarter last year. On average, equities research analysts forecast that Assured Guaranty Ltd. will post $4.89 EPS for the current year.
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Assured Guaranty Company Profile
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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